Peter F. Drucker said that "the purpose of business is to create and keep a costumer." However, as an Organisation, what customers should we be creating and which ones should we keep?
The greatest value of a manufacturing business is in its inventories. In this era of high competition it is essential to maximize customer service and minimize operating and financial costs to achieve the best results. The inventory is a strategic asset to this end. If I have what my customers need when they ask me, I do business, but when I do not have it or do not know if I have it, I can hardly meet my goals.