INCREASE EFFICIENCY IN INVENTORY MANAGEMENT  

In 2015, inefficient inventory management led to losses of 1.75 trillion dollars in the retail sector worldwide. On average, these losses represented 11.7% of companies' turnover.
Efficient inventory management should be able to reduce overstock and stock-out situations, prevent returns, take demand forecasting into account and respond immediately to customers.

Alongside the challenges of the new digital economy, there is also the need to meet the legal requirements of Decree-Law no. 98/2015, since, from 2016, most companies in Portugal have been required to implement the Permanent Inventory System (SIP).

Checklist for the Permanent Inventory System

Since the beginning of 2016, more companies have been required to implement the Permanent Inventory System (SIP). However, many SMEs have been facing challenges because, due to limited resources or a lack of training, they have not put in place some of the processes needed to comply with the SIP and accurately value each unit of stock.

For companies covered by Decree-Law no. 98/2015, we have prepared a checklist of the essential actions to start getting your company ready for the SIP.