Question: Some important factors to consider when pertaining to the amount of inventory a business has available to sell would be like seasonality and supplier lead

Some important factors to consider when pertaining to the amount of inventory a business has available to sell would be like seasonality and supplier lead times. For seasonality, increasing a certain item in inventory to prepare for the upcoming holiday seasons, in order to meet customers' demand and increase sales. For supplier lead times it can impact how soon you'll need to replenish inventory as it takes time for suppliers to deliver the inventory you will need. Disadvantages of low inventory would be lost sales and revenue if stockouts happen along with the possibility of lower customer satisfaction rates as you don't have what they want in stock. An issue of excess inventory would be having a risk of ending up buying too much of an unsellable item, leading to dead stock and unnecessary waste. I would choose the accounting manager to assist with reordering inventory because they have information about the business inventory as they have access to data in QBO. Allowing them to be informed about what better decisions to make in order to meet the business's financial goals

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!