Calculate and interpret the inventory turnover rate for a specific period to assess inventory efficiency.
Task: Calculate the inventory turnover rate and provide a brief interpretation of the result. Context: - Inventory cost of goods sold (COGS) for the period: [cost_of_goods_sold_value] - Average inventory value for the period: [average_inventory_value] Format: Provide the turnover rate as a number and a short explanation of what it indicates.
Classify your inventory using ABC analysis to identify high-value items, optimize stock management, and improve efficiency.
Suggest basic strategies to optimize spare parts inventory for a small operation to reduce holding costs.
Formulate a comprehensive medical supply chain strategy to optimize procurement, inventory, and distribution for healthcare organizations.
