{"id":9180,"date":"2022-04-05T06:59:18","date_gmt":"2022-04-05T06:59:18","guid":{"rendered":"https:\/\/www.mrpeasy.com\/blog\/?p=9180"},"modified":"2024-06-03T13:39:41","modified_gmt":"2024-06-03T13:39:41","slug":"inventory-optimization","status":"publish","type":"post","link":"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/","title":{"rendered":"Inventory Optimization Methods and Techniques"},"content":{"rendered":"\n<p>Inventory optimization is the act of balancing inventory costs, service levels, and the complexity of inventory management. While there is no single magical solution for keeping your stock optimized, different methods and techniques are brought together in ERP\/MRP systems.<\/p>\n\n\n\n<!--more-->\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"689\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/12\/Inventory-optimization-1024x689.jpg\" alt=\"\" class=\"wp-image-12716\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/12\/Inventory-optimization-1024x689.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/12\/Inventory-optimization-300x202.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/12\/Inventory-optimization-768x517.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/12\/Inventory-optimization.jpg 1379w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><em>You can also listen to this article: <\/em><\/p>\n\n\n\n<iframe loading=\"lazy\" title=\"Inventory Optimization Methods and Techniques\" allowtransparency=\"true\" height=\"150\" width=\"100%\" style=\"border: none; min-width: min(100%, 430px);\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?i=cji7w-123d1f8-pb&amp;from=pb6admin&amp;share=1&amp;download=1&amp;rtl=0&amp;fonts=Arial&amp;skin=1&amp;font-color=&amp;logo_link=episode_page&amp;btn-skin=3\"><\/iframe>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #343333;color:#343333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #343333;color:#343333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#What_is_Inventory_Optimization\" >What is Inventory Optimization?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#Inventory_Optimization_methods_and_techniques\" >Inventory Optimization methods and techniques<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#1_Inventory_tracking\" >1. Inventory tracking<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#2_Demand_forecasting\" >2. Demand forecasting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#3_Safety_stock\" >3. Safety stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#4_Reorder_point\" >4. Reorder point<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#5_Kitting\" >5. Kitting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#6_SKU_rationalization\" >6. SKU rationalization<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#7_Stocktaking\" >7. Stocktaking<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#8_Just-in-time\" >8. Just-in-time<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#Inventory_Optimization_with_ERPMRP\" >Inventory Optimization with ERP\/MRP<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#Key_takeaways\" >Key takeaways<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Inventory_Optimization\"><\/span>What is Inventory Optimization?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Inventory optimization is an umbrella term for a variety of\nmethods that are used to balance inventory costs, inventory management\ncomplexity, and goals related to product availability.<\/p>\n\n\n\n<p>Managing a large amount of <a href=\"https:\/\/www.mrpeasy.com\/blog\/stock-keeping-unit-sku-best-practices-for-inventory-classification\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">stock keeping units<\/a> and tracking their movements and performance is a difficult task on its own. Finding and maintaining the optimal inventory levels, however, may often seem like walking a tightrope over a gorge. That is where certain security nets and balancing tools come to your aid.<\/p>\n\n\n\n<p>These methods range from simply keeping a buffer stock of\nyour most important items to very complex, computer-aided systems that give you\na real-time overview of your inventory status and requirements.<\/p>\n\n\n\n<p>But in the end, the goal of all of those approaches is to\nmake sure that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>There are no <a href=\"https:\/\/www.mrpeasy.com\/blog\/stockout\/\" target=\"_blank\" rel=\"noreferrer noopener\">stockouts<\/a> or overstocking<\/li>\n\n\n\n<li>The service levels ensure customer satisfaction and reasonable lead times<\/li>\n\n\n\n<li>No excess cash is tied up in inventory<\/li>\n\n\n\n<li><a href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-costs\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Inventory costs<\/a> do not eat up the profits<\/li>\n\n\n\n<li>There is no accumulation of dead stock<\/li>\n<\/ul>\n\n\n\n<p>That means when inventory is well optimized, the overall operational costs of the company are reduced and service levels are high. On the other hand, ill-managed inventory can result in both low service levels and <a href=\"https:\/\/www.mrpeasy.com\/blog\/dead-stock\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">dead stock<\/a>, meaning that customers could be lost while some goods could also be spoiled.<\/p>\n\n\n<div class=\"banner-v2\">\n    <p class=\"banner-v2__desc\">Avoid stock-outs and overstocking with MRPeasy<\/p>\n    <a class=\"banner-v2__link\" href=\"https:\/\/www.mrpeasy.com\/sign-up\/\" target=\"_blank\" data-ga-event=\"blog_signup_banner_blue\">Try for free<\/a>\n<\/div>\t\t<style>.banner-v2 {\n    float: right;\n    display: flex;\n    flex-direction: column;\n    justify-content: center;\n    align-items: center;\n    padding: 40px 32px;\n    gap: 16px;\n    width: 356px;\n    height: 205px;\n    background: linear-gradient(199.68deg, #6084E5 13.17%, #5FA7DD 82.1%);\n    border-radius: 4px;\n    margin-left: 12px;\n    margin-bottom: 12px;\n    margin-top: 15px;\n}\n\n@media (max-width: 767.98px) {\n    .banner-v2 {\n         width: 100%;\n         height: 173px;\n         margin-bottom: 0;\n         margin-left: 0;\n    }\n}\n\n.single__content p.banner-v2__desc {\n    margin: 0 !important;\n}\n\np.banner-v2__desc {\n    width: 292px;\n    font-style: normal;\n    font-weight: 700;\n    font-size: 22px;\n    line-height: 29px !important;\n    text-align: center;\n    color: #FFFFFF;\n    margin: 0 !important;\n    order: 0 !important;\n}\n\n.single__content a.banner-v2__link {\n    color: #FFFFFF !important;\n}\n\n.single__content a.banner-v2__link:hover {\n    color: #003557 !important;\n}\n\na.banner-v2__link {\n    display: flex;\n    justify-content: center;\n    align-items: center;\n    width: 181px;\n    height: 51px;\n    padding: 18px 0;\n    border-radius: 4px;\n    background: #003557;\n    font-weight: 700;\n    font-size: 16px;\n    color: #FFFFFF !important;\n    text-decoration: none !important;\n    order: 1 !important;\n}\n\n.banner-v2__link:hover {\n    background: white;\n    color: #003557 !important;\n}<\/style>\n\t\t\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Inventory_Optimization_methods_and_techniques\"><\/span>Inventory Optimization methods and techniques<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>To avoid the aforementioned business nightmares, companies\nuse a combination of various methods, techniques, and tools to optimize their\ninventory. None of these are magical solutions that instantly solve your\ninventory management troubles, but through disciplined implementation and\nexecution, they can bring on immense benefits over time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Inventory_tracking\"><\/span>1. Inventory tracking<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The first point of order in inventory optimization is <a href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-tracking\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">inventory tracking<\/a>. Without exactly knowing what you have in stock and how your items move, it is impossible to start optimizing them. That is why all items need to be assigned a specific stock keeping unit code, stock lot numbers need to be assigned to stock, some individual items need serial numbers, etc. This all helps you track your inventory and get an accurate overview of what is going on in the stockroom.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Demand_forecasting\"><\/span>2. Demand forecasting<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>By looking at the historical data, you can forecast roughly how much of your products will be sold at any period in case of regular demand. As such, <a href=\"https:\/\/www.mrpeasy.com\/blog\/demand-forecasting\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">demand forecasting<\/a> is essential when trying to optimize your inventory. Although by using forecasting, you can prepare your company for regular demand as well as seasonal changes in demand \u2013 helping you prevent stock-outs as well as overstocking \u2013, unforeseeable fluctuations require another approach.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Safety_stock\"><\/span>3. Safety stock<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Safety stock is a buffer of goods that is used to respond to unforeseen fluctuations in demand or in the case of supplier unavailability. Also known as just-in-case inventory, <a href=\"https:\/\/www.mrpeasy.com\/blog\/safety-stock\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">safety stock<\/a> provides you with the means to continue production and deliveries when there are disruptions in the supply chain. That is why lately many companies that had previously opted for the just-in-time inventory model are reconsidering their policy of not keeping extra stock.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Reorder_point\"><\/span>4. Reorder point<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Reorder point is a simple yet effective method for preventing stock-outs without stocking excessive amounts of inventory. It is based on the premise of determining a certain level of inventory that would trigger a replenishment. That means when inventory drops lower than the <a href=\"https:\/\/www.mrpeasy.com\/blog\/what-is-reorder-point-and-reorder-point-formula\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">reorder point<\/a>, it is time to place another order. Of course, reorder points should never be arbitrary, rather they should be determined by taking lead times, demand, and the available safety stock into account.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Kitting\"><\/span>5. Kitting<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A valuable tool for optimizing both raw material inventory as well as products is <a href=\"https:\/\/www.mrpeasy.com\/blog\/kitting\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">kitting<\/a>. In the case of material kitting, parts and materials required for making a product are bundled together to minimize picking time. Product kitting, however, means bundling various items that are often bought together, such as musical instruments and equipment, dining tables and chairs, or hygienic products like shampoos and shower gels. That way, companies can attach slower-selling items to fast-selling items, increase their inventory turnover, and avoid the accumulation of dead stock.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_SKU_rationalization\"><\/span>6. SKU rationalization<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SKU rationalization basically means cleaning up your product catalog of items that do not sell. Many businesses continuously add items to their product mix, inflating their catalog along with their inventory. And in many cases, the performance of a company\u2019s products will not be static. That is why <a href=\"https:\/\/www.mrpeasy.com\/blog\/sku-rationalization\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">SKU rationalization<\/a> is needed \u2013 to weed out underperforming SKUs, reduce inventory costs, and free up cash that is tied up in inventory.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_Stocktaking\"><\/span>7. Stocktaking<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Regular <a aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mrpeasy.com\/blog\/stocktake\/\" target=\"_blank\" rel=\"noreferrer noopener\">stocktakes<\/a> are a critical part of keeping your inventory shipshape. Even if you have implemented <a href=\"https:\/\/www.mrpeasy.com\/inventory-management-software\/\" target=\"_blank\" rel=\"noreferrer noopener\">inventory management software<\/a>, occasional inventory counts help increase inventory accuracy, identify unaccounted-for shrinkage, detect and prevent theft, and eliminate inaccuracy in accounting. Stocktakes are also the only surefire way to discover forgotten inventory that has not been properly tracked.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_Just-in-time\"><\/span>8. Just-in-time<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Just-in-time is a manufacturing and inventory management methodology that aims to absolutely minimize inventory. Its central premise is to work closely with suppliers and make sure that the ordered goods arrive just as production is scheduled to begin or just as the goods are due to be shipped to the customer. When using <a href=\"https:\/\/www.mrpeasy.com\/blog\/just-in-time-manufacturing\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">just-in-time<\/a>, inventory does not have to be stored in huge warehouses, inventory obsolescence is not a risk, and overall efficiency can be improved while costs can also be minimized.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Inventory_Optimization_with_ERPMRP\"><\/span>Inventory Optimization with ERP\/MRP<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Implementing an ERP\/MRP system for <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mrpeasy.com\/inventory-management\/\" target=\"_blank\">inventory management<\/a> gives you the chance to automate a huge portion of the processes related to the aforementioned inventory optimization methods. This kind of software is designed to help you in standardizing your processes and give you an accurate overview of what goes on in your inventory. They allow you to track your inventory and create accurate forecasts based on the historical data gathered by the software as well as to assess the performance of your SKUs for SKU rationalization. Reorder points and safety stocks can be assigned to your goods to avoid stock-outs and shortages while kitting can be used both for raw materials and to bundle your finished products. Just-in-time can be used in some systems thanks to their backward scheduling functionality. All in all, an ERP\/MRP system is the best option if you are looking to reduce inventory management complexity while also drastically improving the efficiency of your processes. Today, these types of <a rel=\"noreferrer noopener\" aria-label=\"inventory optimization software (opens in a new tab)\" href=\"https:\/\/www.mrpeasy.com\/inventory-optimization-software\/\" target=\"_blank\">inventory optimization software<\/a> are available for companies of any size at no great cost so often it makes sense to implement one as soon as possible.<\/p>\n\n\n<div class=\"banner-v1\">\n    <div class=\"banner__text\">\n        <div class=\"banner-v1__title\">Easily optimize your inventory and cut unnecessary costs<\/div>\n        <div class=\"banner-v1__desc\">MRPeasy automatically compiles inventory-related reports and statistics so you could make well-informed business decisions.<\/div>\n        <div><a class=\"banner-v1__link\" href=\"https:\/\/www.mrpeasy.com\/sign-up\/\" target=\"_blank\" data-ga-event=\"blog_signup_banner_white\">Try for free<\/a><\/div>\n    <\/div>\n    <div class=\"banner__img\">\n        <img decoding=\"async\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/themes\/mrpeasy\/assets\/images\/banner.svg\" alt=\"banner\">\n    <\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_takeaways\"><\/span>Key takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Inventory optimization is an umbrella term for a\nvariety of methods that are used to balance inventory costs, inventory\nmanagement complexity, and goals related to product availability.<\/li>\n\n\n\n<li>There are many different methods and techniques\nthat help companies optimize their inventory.<\/li>\n\n\n\n<li>The most important goals of inventory\noptimization are to ensure there are no stock-outs or overstocking, the service\nlevels ensure customer satisfaction and reasonable lead times, no excess cash\nis tied up in inventory, inventory holding costs do not eat up the profits, and\nthere is no accumulation of dead stock.<\/li>\n\n\n\n<li>Companies can make use of inventory optimization\ntechniques such as inventory tracking, demand forecasting, safety stock,\nreorder point, kitting, SKU rationalization, regular stocktaking, and\njust-in-time.<\/li>\n\n\n\n<li>All of these approaches bring on benefits on\ntheir own, but you can make the most of them by using them together within an\nERP\/MRP system.<\/li>\n<\/ul>\n\n\n\n<p><em>You may also like: <a href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-turnover-ratio\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Inventory Turnover Ratio \u2013 Formula and Tips for Improvement<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inventory optimization is the act of balancing inventory costs, service levels, and the complexity of inventory management. While there is no single magical solution for keeping your stock optimized, different methods and techniques are brought together in ERP\/MRP systems.<\/p>\n","protected":false},"author":7,"featured_media":12716,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[96,94],"tags":[9,283,50,804,803,520,66],"class_list":["post-9180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inventory","category-tips","tag-inventory","tag-inventory-control","tag-inventory-management","tag-inventory-management-software","tag-inventory-optimization","tag-inventory-tracking","tag-mrpeasy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Inventory Optimization Methods and Techniques - MRPeasy<\/title>\n<meta name=\"description\" content=\"Inventory optimization is the act of balancing inventory costs, service levels, and the complexity of inventory management.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inventory Optimization Methods and Techniques - MRPeasy\" \/>\n<meta property=\"og:description\" content=\"Inventory optimization is the act of balancing inventory costs, service levels, and the complexity of inventory management.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/\" \/>\n<meta property=\"og:site_name\" content=\"Blog for Manufacturers and Distributors\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-05T06:59:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-03T13:39:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/12\/Inventory-optimization.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1379\" \/>\n\t<meta property=\"og:image:height\" content=\"928\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madis Kuuse\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Madis Kuuse\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/\"},\"author\":{\"name\":\"Madis Kuuse\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/e40f89c6de450b1e878b72492dfcce1d\"},\"headline\":\"Inventory Optimization Methods and Techniques\",\"datePublished\":\"2022-04-05T06:59:18+00:00\",\"dateModified\":\"2024-06-03T13:39:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/\"},\"wordCount\":1284,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/12\/Inventory-optimization.jpg\",\"keywords\":[\"inventory\",\"Inventory Control\",\"inventory management\",\"inventory management software\",\"inventory optimization\",\"inventory tracking\",\"MRPeasy\"],\"articleSection\":[\"Inventory\",\"Manufacturing Tips\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/\",\"url\":\"https:\/\/www.mrpeasy.com\/blog\/inventory-optimization\/\",\"name\":\"Inventory Optimization Methods and Techniques - 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