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Insight

Time to Reduce Orders in The Apparel Industry?

Nike recently downgraded its growth expectations, projecting sales to rise only ~1% this fiscal year along with cost-cutting initiatives underway. Given Nike's industry bellwether status, this signals cooling demand could spread across apparel, ushering in a growth moderation period after over a decade of expansion. For apparel businesses,

Wooden blocks with "M" "R" "P" written on top.

Materials Requirements Planning Explained

Materials management is a foundational pillar for seamless production. MRP is a system that emerged to manage materials efficiently, planning how much and when materials are needed for production. Let's take a closer look at the concept and benefits of MRP, and see how it can help companies

A typewriter with "ARTIFICIAL INTELLIGENCE" written paper.

Reducing Uncertainties in Consumer Demand With Technology

“A stitch in time saves nine” is an old English proverb that summarizes the evergreen life lesson about the value of taking proactive steps to solve small problems before they become bigger. One stitch now, the saying implies, can prevent the need for nine later. The same logic applies to

A souvenir shop in Cairo, Egypt.

Making Sure Overstocking Doesn’t Strangle Your Profits

Tips and Tools for Balancing Inventory Management In August 2023, Under Armour reported a substantial 38% increase in its inventory levels, and profit levels took a hit. Too many leftover undies, in short (or, shall we say, shorts?), undercut their underwear profit. This spike in stock shook its stock, knocking

Worker processing raw materials in a plant.

Leaner, Meaner and Greener: Mastering the Art of Lean Manufacturing

Adding Efficiency and Resilience in Industrial Processes and Inventory Management Everyone can benefit from a healthy diet, slimming down to the essentials, and cutting out excesses while keeping trim and staying strong. What’s good for your body is true for manufacturing operations too. Rooted in Toyota’s revolutionary auto

Financial audit documents.

Inventory Audits as Arbiters of Accuracy

Tools and Techniques for Crafting a Credible Financial Narrative The term 'audit' is derived from the Latin audire, meaning 'to hear,' reflecting a time when accounts were announced out loud. Today, inventory audits tend to be a bit quieter. Still, they silently ensure stock quantities align

A barista working behind a coffee shop counter.

Inventory Management Best Practices for Small Business Growth

Enhancing Your Operational Efficiency with Effective Stock Control Efficient inventory management is the unsung hero of small business success. It’s a bit like the heroic character of Forrest Gump—overlooked and underestimated, yet somehow managing to be in the right place at the right time. Like Forrest’s knack