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Quoted Inventory - Need solutions to keep from Overselling

I am new to inventory management.  At any given time our inventory in the quote stage is much greater than our on-hand inventory.   Capital is usually an issue, along with warehouse space.  So, do you guys have any tips for keeping a good pulse on what product is in quote stage, vs what is on hand?   I understand that I can run a Sales Outstanding Quotes report and see what SKU's are in quote stage.  However, are there any practical workflows anyone would be willing to share? 

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