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What Is Inventory Accuracy?

Understand how Inventory Accuracy fits into the supply chain

Inventory accuracy is the day-to-day knowledge of on-hand inventory to ensure operational efficiency and an orderly flow of information in and out of systems. One way to increase inventory accuracy is to utilize an industry technology program such as a warehouse management system (WMS). A WMS provides day-to-day operational efficiency through electronic data interchange links with customer enterprise resource management systems. This creates an orderly flow of information back into the customer's systems, providing them with access to timely status updates, improving accuracy and efficiency.