[SupplyChainBrain] Overproduction, Waste Account for $163 Billion in Annual Inventory Losses
Overproduction, Waste Account for $163 Billion in Annual Inventory Losses
Nearly 8% of stock perishes or is discarded and, in fact, 4.3% of stock spoils in the supply chain before it even reaches the shelf.
Overproduction is an issue many companies have but few sufficiently budget or have a solid plan to address. When a company produces too much, the effects are seen in both their sustainability reporting and their profits.
As with all supply chain issues, resolution comes from better data, and better data only comes from better track-and-trace solutions.