How costly is poor inventory maintenance?

Asked a year ago

Hey, I see a lot of advice suggesting Shopify tools and apps that help with inventory management. What is the potential extra cost I am paying for having poor inventory maintenance currently? Thanks in advance

Abeeha Qasmi

Wednesday, January 25, 2023

Inventory costs are often the largest expense for a business. It's essential to track how much you spend on inventory and how much you sell. If you don't keep tabs on your inventory management and maintenance, you won't know when to order more and when to cut back on your stock. Simply put, when your inventory is poorly managed, it can lead to unnecessary costs accounting for inventory obsolescence, missed opportunities for stock, and over/ underproduction.

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