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How Luxury Conglomerates Manage Excess Inventory and Lessons to Learn

Excess inventory has long been a key topic for retailers and in particular luxury brands — it is very difficult to accurately forecast and match demand and supply for individual goods, as people’s tastes may differ from what has been produced. In order to preserve your brand and its value

Hands of a young Asian businessman Man putting coins into piggy bank and holding money side by side to save expenses.

Understanding the Accounting Implications of Inventory: Why Proper Valuation Matters

Looking to understand which inventory method best to use for your business? It is important to think about this clearly before making any rash decisions, because correct inventory valuation methods and recording of inventory discrepancies can significantly impact key financial metrics. Cost of Goods Sold Let's first look

Young asian girl holding a wallet.

How to Set a Price

One of the most important aspects of businesses is pricing a product or service. Many managers or business owners do not realize that pricing can be a major driver of growth and profitability, which is ultimately what matters in a business. In this article, we will do a deep dive

OpenAI CEO Sam Altman attends the artificial intelligence(AI) Revolution Forum in Taipei on September 25, 2023.

OpenAI's Sam Altman has a $7 Trillion Ambition

Who Is Sam Altman? Sam Altman is the founder and CEO of OpenAI, the company behind ChatGPT, an AI chatbot that produces human-like responses to queries. He founded the company in 2015 with Elon Musk and others to develop a large language model (LLM) that could evolve into AGI (Artificial

Large group of cardboard boxes in a warehouse.

Retailers Returning to Just-in-Time Inventory Management

Retailers are shifting back to “just-in-time” (JIT) inventory management strategies after moving away from them to "just-in-case" strategies during the recent years of pandemic disruptions and unstable supply chains, as the Wall Street Journal reported recently. JIT involves keeping inventory levels as lean as possible to minimize holding

Oil field site, in the evening, oil pumps are running.

How Oil Price Impacts the Supply Chain

Oil is the pulsing vein of supply chains — when crude prices spike, your costs convulse. As transportation fuel, manufacturing feedstock, and agriculture input, this global commodity intertwines with your budget. Sudden dips and surges in the oil market translate into wild swings in expenses. Shipments, production, inventory — all shaken by

Artificial intelligence depicted in blocks of a lateral image of a human face.

Will AI Replace Your Job? How AI will Enhance Inventory Management Without Replacing Workers

Artificial intelligence (AI) has often been hyped as having the potential to automate away human jobs. With advancements in computer vision AI that can "see" and generative AI that can write and design, concerns have grown about AI making large segments of the workforce obsolete. However, a recent