ฃMin/Max Inventory Replenishment Settings
IKEA relies on a minimum/maximum settings inventory replenishment process. This system responds to reorder points within the inventory, setting accurate reordering triggers for the minimum products available before reordering, as well as the maximum amount of a particular product to be ordered. These are based on business intelligence for inventory and the ongoing analysis of stock performance.
An online inventory management system such as DataQlick comes with powerful business intelligence tools that enable you to understand your inventory performance even if you’re not an expert, as well as to set minimum and maximum order values for individual items in stock.