What is the desired goal for inventory accuracy stated in the APICS dictionary?

The desired goal for inventory accuracy, as stated in the APICS dictionary, is 95-99%. This high standard reflects the importance of maintaining accurate inventory records for effective supply chain management. Achieving this level of accuracy is critical because it helps organizations minimize stockouts and overstock situations, leading to improved customer satisfaction and reduced costs associated with excess inventory.

In addition to promoting operational efficiency, a target accuracy of 95-99% fosters better decision-making and enhances the overall effectiveness of inventory management practices. Organizations that consistently maintain this level of accuracy are better positioned to respond promptly to market demands and fluctuations, ensuring that they have the right products available at the right time.