Tell me do you have regular visibility into excess and obsolete stock, and is it linked to targeted action plans to sell off or reduce this inventory?
Submitted by: Muhammad
Typically, excess and obsolete stock stems from ineffective sales forecasting, planning or using a business model that fails to factor in product complexity and life cycles correctly. Inventory leaders establish processes to determine why excesses are being created and then develop a plan of action to sell it off. In some instances, the fear of the write-off has led to a large buildup over time of obsolete inventory.
Submitted by: Muhammad
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