The Industrial Revolution and advances in science and technology have caused an unprecedented rise in the production of industrial goods. When products made to meet demand cannot be sold, they remain in inventory. If inventory isn’t managed properly, the ability to fulfill purchase requests quickly declines, which harms both producers and consumers. Depreciation is an accounting method that accounts for the decrease in value over time and includes these losses in production costs. So far, the global economy has experienced repeating cycles of booms and recessions. One of the main triggers is inventory. Inventory is a crucial factor that can lead to business failure, but effective inventory management can help promote greater business success. - Joseph’s “just my thoughts”
Here a product is being made by only three countries, South Korea, China, and Japan. It's not a semiconductor but a nail clipper. You might think that a nail clipper is not a big deal, but it's not as simple as that. Nail clippers are a combination of all sorts of advanced technologies. In the 1980s, South Korea could produce submarines and battleships, but they did not possess the technology to produce nail clippers. When the upper and lower teeth are in mesh, the chink must be 0.1 to 0.2 millimeters. When perfect engagement, the nail is not cut properly on the contrary, the outrange of this tolerance, is cut out coarsely. Today, thanks to technological advances, South Korea has been able to narrow this chink to between 0.05 and 0.08 millimeters. South Korea, to achieve this goal, produces a special steel called "15CM" through POSCO which is specially made for this nail clipper. Many different advanced technologies are combined in this tiny nail clipper. Don't ...