They were often ordering quantities of items that they were not using, losing money on unnecessary orders. It had been a challenge to manage inventory levels and order only what they needed when they needed it.
They can now see whether they need to purchase something or if they can manufacture it in house, based on historical supply and demand. This resulted in greater efficiencies, on-time orders and happier customers across the board.
Download Spreadsheets-The Corporate Secret Killer & What to Do About It to better understand its inherent errors, how to manage quality control & overconfidence, with detailed solutions on improving spreadsheets in financial reporting.
Artificial intelligence is being applied to business tasks and expanding to more areas every day. How will this affect the future of managing your business?
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