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This factor can be monitored by purchasing when they place new PO
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.
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
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.
REQUIRED AGED FOR AGING STOCK SHOULD BE STRICKLY MANAGED
