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When calculating basic stock, it is important to factor in lead-time, the length of time between reordering and receiving a product. Insufficient inventory implies lost sales and costly time-consuming back orders. On the other hand, excess inventory could mean higher storage costs or increased insurance expenses.
The following article provides tips to entrepreneurs on how to maintain adequate levels of inventory to ensure increased business success.
Source: entrepreneur.com
Added on November 25, 2008
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