Apple is famous for its innovation and design. But few people know that the way Apple handles inventory is also a factor that led to success. As a matter of fact, Apple’s Supply Chain has led Gartner's Supply Chain Top 25list since 2013.
Tim Cook, the current CEO of Apple, a company that reached 260.17 billion in revenues in 2019, was before the company’s Chief Operations Officer. He had joined Apple in 1998, the same time Steve Jobs re-entered the company, and he transforms Apple’s messy operations into a success, becoming COO in 2005 and CEO in 2011.
Tim Cook believes that when it comes to technology such as smartphones, tablets and laptops, inventory deprecates very, very quickly, losing 1-2% of its value each week - “inventory is fundamentally evil” he says.