Best strategies to reduce inventory waste?

Managing inventory effectively is essential for reducing waste and saving costs. Businesses should analyze demand patterns and maintain accurate stock levels to prevent overproduction or shortages. Technology and automation play a key role in optimizing inventory management. By applying supply chain solutions, companies can track stock in real-time, forecast demand more accurately, and align purchasing with actual requirements. Regular audits and supplier collaboration further reduce excess inventory. This approach ensures operational efficiency, cuts unnecessary costs, and promotes sustainability, while also improving customer satisfaction by ensuring products are available when needed.