5 Inventory Mistakes That Are Silently Killing Nigerian SMEs

Inventory mismanagement is the silent killer of Nigerian SMEs. Studies suggest that over 60% of business failures in Nigeria have a significant inventory mismanagement component...

Mistake #1: No Reorder Point System

Running purely on gut feel about when to reorder is the most common and most damaging mistake.

Mistake #2: Ignoring Dead Stock

Dead stock ties up capital. A monthly dead stock review and clearance strategy is essential.

Mistake #3: No Supplier Lead Time Data

If you don't know how long your supplier takes to deliver, you'll always be caught short.

Mistake #4: Manual Stock Counts Only

Monthly physical counts are simply not enough. Real-time tracking is the standard now.

Mistake #5: No Variance Analysis

The gap between theoretical and physical stock is where theft and waste hide.