Inventory Management Strategy to Reduce Losses

This study investigates effective inventory management strategies to reduce losses, focusing on small and medium-sized enterprises (SMEs). Using a mixed-methods approach, the research integrates qualitative and quantitative data to explore the impact of technological integration, human factors, and adaptive strategies. Structured surveys and semi-structured interviews were conducted with key personnel from 100 SMEs across various industries. Quantitative data were analyzed using statistical techniques, and qualitative insights were obtained through thematic analysis. Advanced technologies such as RFID, blockchain, and machine learning significantly improve inventory accuracy and efficiency, reducing discrepancies and losses. The research highlights the crucial role of human factors, including the training and development of inventory management staff. Additionally, the study emphasizes the importance of adaptive strategies, such as developing flexible supply chain networks and leveraging real-time data, in managing global supply chain complexities. These findings align with existing theories and empirical evidence, providing a robust framework for effective inventory management. This research offers valuable insights for both academic and practical applications. It underscores the necessity of integrating technological and human elements to optimize inventory management, particularly for SMEs. The findings guide policymakers and practitioners in developing scalable, cost-effective inventory management solutions tailored to smaller businesses. Future research should explore inventory management strategies in diverse contexts and continue examining the interplay between human factors and technological advancements.