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Insight

Boxes stored in a warehouse.

Why inventory builds up and how to fix it

'A necessary evil' refers to something that is inherently harmful, yet unavoidable. From a management perspective, inventory is often considered a necessary evil. Reducing and eliminating it as much as possible can improve business performance, but inevitably, some amount of products must be stored in warehouses for sales.

Workers inside the warehouse.

Sharing Inventory: Collaborative inventory management strategies to reduce inventory burden

Incessantly accumulating inventory is a pain in the neck, interfering with smooth business operations. However, what if this inventory could be shared? The trend of inventory sharing, where companies form cooperative relationships and share inventory, has emerged as a new trend in the commerce industry. What is this 'inventory

A young entrepreneur concerning about the rising return rate

How to Manage the Return Rate Effectively

Amidst fierce competition in the marketplace, many e-commerce companies employ various differentiation strategies to surpass their competitors and secure consumer preferences. One such strategy is implementing a hassle-free return policy. Unfortunately, frequent consumer returns often pose challenges to achieving positive business outcomes. How can companies effectively manage returns to maintain

Young women who seek happiness through self-indulgent consumption.

'Me-Commerce' Strategy for Retail

In today's market, there is a growing trend among individuals who prioritize brands that align with their personal preferences rather than following the mainstream. These individuals are willing to invest in their hobbies without being overly concerned about costs. This is the essence of the "Me-conomy"

The accumulated containers

Navigating Inventory Challenges: The Impact of Supply Chain Uncertainty and Inflation

In recent years, businesses have encountered difficulties in managing their inventory. Various factors, ranging from supply chain uncertainties to substantial inflation and changes in consumer behavior due to the pandemic, have had a significant impact on companies' inventory levels. What is the relationship between supply chain uncertainties, inflation, and

A male employee looking at a dashboard full of data analyzed by AI

Enhancing Efficiency in Inventory Management with AI

AI's popularity, sparked initially in part by 'AlphaGo', continues to sweep the industry with the emergence of ChatGPT. This generative AI, recognized for its limitless potential, is gaining popularity across various business domains. Moreover, AI technologies, constantly advancing, are actively being applied in diverse business areas.

A note with "Just In Time Production Strategy" with a pen, graph, calculator, and spreadsheet on a wooden table

Reducing Inventory Costs Dramatically with JIT (Just-in-Time) Approach!

Are you familiar with "Just-in-Time" (JIT)? This term signifies the concept of timely execution and extends beyond everyday use to encompass production processes and inventory management techniques. JIT, an abbreviation for Just-in-Time or Just-in-Sequence, highlights these precise production methods. What is Just-In-Time Approach? "JIT pertains to product