Do you own or manage a company that
holds stocks for selling or for production?
Then you should know you face two major costs: (1) the cost of holding it, and (2) the cost of placing an order or re-setting up.
Both costs work in such a way that you need to balance them; there is a trade-off: stock too much and your holding costs will eat your profits, keep your ordering frequency at high levels and your ordering costs will increase.
If your demand can be considered fairly constant, and you want just to optimise the procurement process of a single product (Stock-keeping unit, SKU), then you can benefit from using our new Android App, for just £0.99.
If you want more information please check these notes on inventory management.