The Right ERP KPIs To Better Manage Inventory and Quality Control
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In today's competitive market, efficient inventory and stringent quality control are paramount for business success. An ERP for inventory and production management in India can be a game-changer , providing the data-driven insights needed to optimize these critical areas. However, simply having an ERP isn't enough; you need to track the right Key Performance Indicators (KPIs) to truly leverage its power. Inventory management is more than just counting stock. It's about ensuring the right products are available at the right time, minimizing holding costs, and preventing stockouts. An effective ERP system can track various KPIs to achieve these goals. Key Inventory KPIs: Inventory Turnover Ratio: This measures how quickly inventory is sold and replaced. A high turnover indicates efficient inventory management. Stockout Rate: This KPI tracks the percentage of orders that cannot be fulfilled due to insufficient stock. Minimizing this rate ...