As inventory challenges rise, food and beverage companies have a growing hunger to manage it. Fortunately, using big data for pivotal aspects of the process can support success. Big data analytics can be the key to not only lower carrying, expediting and shipping costs, but also higher revenues. The market rewards those who achieve inventory success with higher profits.
Inventory is not just a cost; it can be the foundation for success in both lower costs and higher revenues. But only if it’s in the right place at the right time in the right quantity; and that is not easy for fast-moving food and beverage companies. It does not need to be a guessing game; big data is the key.