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Every product has a life cycle, starting with its introduction to the market, growing slowly, gaining popularity, reaching maturity, and eventually disappearing. This theory, known as the Product Life Cycle (PLC), is analogous to a person's life. Understanding PLC is crucial for various aspects of a business. Knowing

Effective inventory management is a complex process that requires ongoing assessment of supply and demand factors affecting inventory levels. Economic shifts, inflation, and pandemics like COVID-19 can all disrupt consumer sentiment and cause supply chain disruptions. Additionally, the emergence of e-commerce environments has made it challenging to maintain stable demand

For those new to inventory management, it's common to feel overwhelmed. In this post, we'll provide beginners with valuable insights to make inventory management less daunting. ABC Inventory Analysis: Step-by-Step Step 1: Understanding the Background A company's products can be classified into "bestsellers&

A fledgling business owner, A, is preparing for a sales business and is trying to start his real business by placing an order with a manufacturer. As he has not yet established a stable distribution channel, he plans to produce only a small amount of products and monitor the sales

In our previous series on how to “Master Confusing Inventory Management Lingo” (Part 1), we introduced some of the most commonly used yet misunderstood inventory management terminologies such as Safety Stock, Reserve Stock, and Inventory Maintenance Cost. If you find yourself asking, “How can I put better inventory management into