Retail inventory management practices need fine-tuning
🌐 It’s no secret that retailers have been stockpiling huge amounts of goods to meet the growing consumer demand - but that story has been rapidly changing. Now, retailers across the globe are finding themselves swamped with too much inventory as demand shrinks due to the rapid inflation rate and economic concerns. Companies are being forced to reevaluate inventory management practices in order to ensure the massive inventory glut isn’t a lost cause. However, these amendments will only be effective if international suppliers are also on board. Transforming the supply chain will require efforts from every sector.
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