#133 New Inventory Management System, Data Analysis and Over-analysis (22/12/2024)

Welcome back to my weekly journal. 2024 has passed in chaos and busyness. As we approach December , you'll see in my journals this month that I've talked about inventory management systems, gradually systematizing my work, and handing things over to colleagues. This stems from a phone call I had with a senior colleague at the end of November . I felt it was really necessary to start off-the-job in daily operations, and my colleagues have been helping me implement it. So I've started to "get serious" about it.

Of course, it will take some time for everyone to adapt to the implementation, and the transition period will definitely be painful. But this is something that we must face and solve in the long run. This will make the company's operations more efficient , which I think is necessary, especially when things are going smoothly, time can be freed up to do something more important.

For example, the inventory management system we mentioned a week or two ago has been implemented more completely this week and is being used daily. There are still some details that aren't perfect, and some colleagues may still be a little confused, but things are gradually getting smoother. For customers, this means they have a better chance of finding the color and size they want in-store, and even if something is out of stock, colleagues can clearly tell them which store still has it or when it might be available for them to pick up, making the shopping experience much better.

Indeed, while we are adding different product styles, one thing that cannot be ignored is that we need to manage 200-300 different items, which is really challenging, especially for a newcomer like me who has no experience in the business world. It is a journey that forces me to grow rapidly.

If this electronic inventory management system is successfully implemented, it will save me a lot of time, because this year I have been dealing with these inventory problems in an extremely chaotic and unsystematic way.

Data analysis and over-analysis

You often hear about different company management teams trying to use data analysis to understand sales fluctuations and make corresponding business decisions. This is indeed a necessary approach, but excessive analysis is not ideal. Sometimes, there are many things and details we don't know, so if we become overly obsessed with data analysis, we may not be able to see the big picture, and we might make wrong decisions and waste time.

I really enjoy studying the stories of different companies, whether they succeeded or failed, or learning lessons from their histories. While nothing is perfect, we can at least try to avoid making the same mistakes and improve ourselves.

Sometimes I get impatient, but impatience is often the reason a company fails. Successful companies take things one step at a time; the process doesn't stop, and they don't become complacent, but they also don't rush into taking risks. They prioritize stability and then make gradual progress. Therefore, we must focus on doing our best now and take it one step at a time.