Inventory turnover is a key measure of success for procurement teams. It measures how quickly you are able to move through your inventory and replace it with new products or services. High inventory turnover is a sign that your organisation is able to efficiently manage the supply chain processes and benefit from cost savings through bulk purchases. To improve inventory turnover, start by analysing current levels of stock and identifying any issues which may be causing delays. Look for innovative solutions such as automation or data-driven decision making to boost efficiency. Additionally, working closely with suppliers to ensure timely delivery and negotiating better payment terms to reduce cash flow problems can help increase your inventory turnover rate.