Perfect Order: Delivering The Right Products At The Right Time In The Right Quantity
Red Hat News, April 21st, 2023
Within inventory management, perfect order refers to the ability to deliver the correct product to the customer, in the right quantity, at the right time, in the right condition, with the right documentation and at the right cost.
Essentially, it means meeting customer demand without errors or delays to the highest degree possible. Inventory management encompasses procedures and processes that directly or indirectly affect the bottom line ordering, receiving, storing, tracking and accounting for all of the goods a business sells. It is a key element of supply chain management and is critical to any business that sells physical goods or is responsible for maintenance, repair and operations (MRO) supplies.