When you're making a decision to invest, you're also making the decision to not invest in another option. What implications does this have for you?
Opportunity Cost is the true cost of a business decision. Every inventory investment or optimization effort costs money but the concept of Opportunity Cost also evaluates the loss of economic benefits that your business could have received if it had not made the investment decision.
Analyzing inventory data to evaluate Opportunity Cost can help you formulate a more successful inventory investment strategy.
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