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to reduce of inventory value we should focus on
Non-moving item at the beginning then on the slow moving item , and analyzing and studying the quantity that we have of each item if it cover our needs or it more than it , and for the damaged items we should rid of it first powell
slow moving item
Rid of the obsolete and damaged items will reduce the excess inventory.
In my opinion, most of the activities are inter-related. As you concentrate on obsolete items to dispose off, you will have the space available to store the fast moving items. So procurement of fast moving items is related with the disposal of obsolete items.
Since fast moving items are usually getting in and out on continous basis, this will not reduce the inventory on long term basis. The only way to reduce is to concentrate on slow moving and damaged items. Obsolete in any case have to be disposed off.
Provided, the damaged items are fast moving items, these will be replaced by new items once repaired and sold.
generally, slow moving items are kept at low levels.
Slow moving items. Obsolete and damaged items are considered when identifying inventory turn around.
If you do that to reduce the inventory value, you must to focus on high value items then take your necessary actions.
If you do that to reduce the inventory location, you must to focus on items which taking big space.
In all cases, you must to elemenate the slow moving items, the obsolete items, and the damaged items immediately
Priority should be given for for Damaged and obsolete inventory. must dispose as soon as possible.
These are profit stuck at warehouse. plan a strategy to sell slow moving items faster. by doing so you can mange inventory efficiently
All items. Wants to give more attention on slow/non moving items.
All item.
But i have a quick doubt why are preparing schedule for obsolete inventory? If your talking about ock means obsolete item in stock means okay.
Obslete items should be disopsed immediately
