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What is the first important factor we should monitor to control Aging Stock ?

This factor can be monitored by purchasing when they place new PO

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Question added by Ahmed AbdAlla SCM MBA , Procurement , Logistics & Warehouse Manager , Samsung Electronics
Date Posted: 2014/04/16

planning is the important factor ,planning things can make perfect

NIZAR PUTTENKUNNU
by NIZAR PUTTENKUNNU , Group Finance Manager , Refa Gifts Markets LLC & Group of Companies

Stock no. of days to be considered.  If the aging of the stocks exceeds the considerable stock no. of days, needs to be taken proper action.

Manoharan Vallamunji Kasinathan Vallamunji
by Manoharan Vallamunji Kasinathan Vallamunji , Purchase Engineer (Supply Chain Management) , ITR MIDDLE EAST

1) FIFO must be maintained during sales.

2) Proper training need to be given to WH team abt the produce and its self life.

3) Procurement team need to educate the Dispatch team abt the  Sl ( Ex- in this  first efour digit indicate the year, next two indicates month, next two indicate date, next two indicates hr and next two indicate Min) the they will follow the FIFO

4) Inventory need to be minimised for self life items.

5) More care should be given to self life items

Sriram Anantharaman
by Sriram Anantharaman , Warehouse Supervisor , Crown Worldwide

There are many factors associated to this:

1. If the stock levels and re-order quantity are not defined.

2. If the stacking and labelling not done properly and FIFO method not followed then the company ends up having ageing stock.

3. Due to improper access of stock.

farhan saleem
by farhan saleem , Mechanical Project Engineer , sendan intl co

REQUIRED AGED FOR AGING STOCK SHOULD BE STRICKLY MANAGED

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