Does it seem like the sluggish economy is dragging everything down? Business growth and expansion are stalled, production is down, consumption is down. I hear that businesses are trying to move ahead without increasing their costs, but that whole process is getting old. We all seem to be waiting for a change, but that change is slow in coming. Is it even possible to get creative about change, or is everyone just burned out?
What will trigger a change, and will we be prepared for that change when it happens? One consideration for many companies is inventory management. There's a juggling act that goes on between tying up money in inventory and keeping cash on hand to handle ongoing expenses and emergency situations. Mary Ellen Biery of Sageworks shares some ideas about how to manage inventory in touch economic times.