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The supply chain disruptions of the past several years have forced most businesses to revisit their inventory management philosophies and systems. Across every industry, more effective and advanced methods of managing inventory have emerged, which are shaping the way organizations do business and create a positive customer experience. Here are some of the ongoing challenges in inventory management and the top inventory management trends shaping the future.

The landscape of modern warehouse management is rapidly evolving, driven by the increased demands of a global supply chain combined with technological advancements. Today’s warehouses have evolved from places that store products into complex systems that require efficient management of inventory, order fulfillment, and logistics to meet the changing requirements of business partners and consumers alike.

Most manufacturing businesses would agree that space is always a limited resource. Even when you have a large footprint, you’ll undoubtedly fill it up quickly. But is the space on your production floor optimized? If your manufacturing or production floor is running short on space, there are ways to rethink your setup and your operations to win back some valuable square footage.

Increasing online sales also means an increase in the importance of reverse logistics. According to Deloitte, online purchases are being returned three times more often than purchases made at physical stores. This unprecedented level of consumer returns poses many challenges for businesses and the supply chain. 

As return rates skyrocket, sellers must rethink how they approach their processes. Retailers can save significantly on the costs of handling all these returns–if they prioritize streamlining their reverse logistics processes.