Inventories are not enoughby ps
What data and information should be taken care of managing vendor inventories is usually no secret as audit literacy progresses. Irrespective of how well kept your inventory information is, its full economic impact can often be first unfolded if it is matched (A) with internal or external expert vendor and legal knowledge and (B) an organizational culture of learning. (A) because there remain so many pitfalls which can only be identified and overcome by people who have gathered extensive amounts of experience dealing with information on a specific vendor. (B) because checking on results is only half the battle if no adequate action is taken – e.g. acquiring new, or modifying and reinforcing existing knowledge, behaviors, skills, values, preferences and/or synthesizing different types of information in regard to the different vendors – on an organization wide level.
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