If You Stock It, They will Come: A look into the “right” amount of inventory to carry.
Do you follow a field of dreams mentality, “If you stock it they will come”? Hoping that by just having the inventory available someone will buy it? Or do you try a minimalist approach, stock the bare necessities, and everything else is special order? We are continually challenged to provide better customer service, while at the same time reducing costs. When talking about inventory, improving customer service usually means improving order fill rates and on time deliveries.