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Need to focus on which item to reduce excess Inventory ? 1. First Moving item 2. Slow moving item 3. Obsolete item 4. Damage item 5. All item

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تم إضافة السؤال من قبل Mohammad Shamsuzzaman Shamo , Senior Manager , BRAC
تاريخ النشر: 2014/04/27
Abd alwahab Alqaramseh
من قبل Abd alwahab Alqaramseh , Material Section Head , CEGCO

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

ALI ABDULLAH HASAN AL-KHAFAJI
من قبل ALI ABDULLAH HASAN AL-KHAFAJI , Warehouse & Logistics Manager , Earth link Telecom

 Rid of the obsolete and damaged items will reduce the excess inventory.

Kashan Syed
من قبل Kashan Syed , Assistant Financial Controller , Tech Group PJSC

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.

Mubashir Shahzad
من قبل Mubashir Shahzad , Oracle Functional Consultant/ERP Business Analyst , Jaffer Business System

generally, slow moving items are kept at low levels.

 

Mohammad Tohamy Hussein Hussein
من قبل Mohammad Tohamy Hussein Hussein , Chief Executive Officer & ERP Architect , Egyptian Software Group

Slow moving items. Obsolete and damaged items are considered when identifying inventory turn around.

Amr Essam
من قبل Amr Essam , Managing Director , Egytrafo Group

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

mohamed shahabdeen lantra
من قبل mohamed shahabdeen lantra , Director , SOUTH ASIA TRADING COMPANY PVT LTD

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 

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

All items.  Wants to give more attention on slow/non moving items.

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

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.

MOHAMMED NAYEEMULLA KHAN
من قبل MOHAMMED NAYEEMULLA KHAN , DY MANAGER Warehouse/Logistics , TOWERVISION INDIA PVT LTD

Obslete items should be disopsed immediately

هل تحتاج لمساعدة في كتابة سيرة ذاتية تحتوي على الكلمات الدلالية التي يبحث عنها أصحاب العمل؟