Unsold inventory and avoiding dead stock can be a thorn in the side for many businesses. Dead stock is this dormant monster, costing you money and taking up precious space. Our blog will guide you through understanding what dead stock really means, its causes, and effective solutions to tackle it.
Keep reading – there’s much to uncover!
Key Takeaways
Dead stock refers to unsold inventory that never makes it off the shelves, tying up funds and consuming valuable space within a business. It’s crucial for companies to differentiate between dead stock and obsolete stock, as each requires unique management strategies.
Key causes of dead stock include overbuying or overproduction, faulty market forecasting, inefficient inventory systems, market trends and seasonality affecting demand, and undetected product quality issues.
To prevent dead stock accumulation, businesses should improve their demand forecasting techniques, streamline their Stock-Keeping Units (SKUs), optimise order volumes with just-in-time deliveries to reduce excesses, and implement cutting-edge inventory optimisation software for real-time tracking.
Effective solutions for managing existing dead stock involve bundling products for promotions to enhance sales appeal and engaging in creative merchandising strategies that revitalise interest in older items that haven’t sold well previously.
With careful analysis of underlying causes and strategic actions such as improving technology use in inventory management alongside optimising purchasing habits based on accurate data can mitigate the financial impact of dead stock on retail businesses.
Defining Dead Stock in Retail and Inventory Management
Dead stock in retail and inventory management refers to merchandise that has never been sold or used by consumers, remaining indefinitely on warehouse shelves. It’s the unsold surplus that clutters storage rooms and ties down capital, hindering a business’s ability to adapt and invest in new opportunities.
The Characteristics of Dead Stock
In retail, dead stock embodies the products on shelves and in warehouses that simply do not sell. This type of inventory is problematic as it consumes space, tying up funds that could be invested more effectively elsewhere.
Imagine garments gathering dust or electronic gadgets becoming outdated; both scenarios illustrate items becoming less desirable over time. Moreover, these goods may represent seasonal trends or specific events which have passed – think Halloween costumes in December, an obvious example of why they no longer attract buyers.
Holding onto excess inventory can drastically inflate costs for a business. It’s not just about the first costs money the loss of immediate sales but also the ongoing expenses like storage fees and insurance premiums.
Every square foot occupied by stagnant stock represents wasted potential for storing products with higher turnover rates. Furthermore, idle goods often face obsolescence risks such as spoilage or technological redundancy – smartphones superseded within months by newer models serve as a prime case in point.
Managing this efficiently requires astute attention to consumer demands and prudent purchasing practices to avoid accumulation of dead stock altogether.
Dead Stock vs. Obsolete Stock
Understanding the nuances between dead stock and obsolete dead stock analysis is crucial for decision-makers within any business. Their differences can significantly impact inventory management strategies and financial outcomes.
| Aspect | Dead Stock | Obsolete Stock |
|---|---|---|
| Definition | Unsellable inventory not due to obsolescence, often due to overordering or damage | Items no longer in demand or relevant, typically due to changes in market trends or technology |
| Characteristics | Includes overstocked, damaged, or seasonal items | Refers to out-of-date products or those surpassed by newer models |
| Financial Impact | Ties up capital, incurs storage costs, and leads to negative cash flow | Unlike dead stock, is unlikely to be sold and may need to be disposed of or recycled |
| Causes | Result from overbuying or inefficiencies in inventory management | Arise from market shifts, technological advancements, or changes in consumer preferences |
| Solution Strategies | Liquidation, bundling for promotions, clearance sales | Re-designing or repurposing, returning to supplier if possible, recycling |
Dead stock and obsolete stock both represent challenges, yet their management requires distinct approaches. Careful analysis and strategic actions can mitigate the financial and operational impact they pose to businesses.
Why Dead Stock Is a Liability for Businesses
Dead stock represents a silent drain on company resources, eroding profitability by occupying valuable space and tying up investment without yielding returns. As it lingers unnoticed or unaddressed in inventory, dead stock can significantly impede the financial health and operational efficiency of any retail business.
Capital Tied Up in Non-Moving Inventory
Having capital tied up in non-moving stock restricts a business’s ability to invest in new products, marketing campaigns, or expansion strategies. Imagine your funds stuck in a frozen state, locked within stacks of items gathering dust instead of contributing to your cash flow and growth.
This is the stark reality for directors overseeing warehouses filled with dead stock.
Shifting these funds from dormant resources to dynamic assets could be transformative. Each unsold item represents trapped money that could otherwise bolster profitable ventures or enhance operational efficiency.
The pressing challenge lies in deploying effective inventory management systems to minimise such financial strain, setting the stage for improved demand forecasting and refined ordering practices as we delve into ongoing storage costs.
Ongoing Storage Costs
Dead stock not only gobbles up valuable space in your warehouse but also leads to a substantial rise in storage expenses. As unsold items linger, they restrict room for more profitable products, causing an unwelcome uptick in holding costs.
Each square foot taken by dead inventory is space that could otherwise generate income; it’s essential to consider this opportunity cost.
Managing these ongoing costs requires meticulous inventory control and vigilant monitoring of supply chain efficiency. Eliminating excess stock avoids the incremental growth of obsolete inventory that complicates logistics and inflates warehouse budgets.
Remember, every item sitting idle on your shelves represents tied-up capital that hampers your company’s ability to invest in areas with potential high returns.
Risk of Damage and Expiry
Items held in stock are vulnerable to a myriad of potential mishaps, including possible damage or passing their expiry date. Such events aren’t just minor annoyances; they represent real financial losses for your company.
Merchandise could get damaged while being moved around the warehouse or due to environmental factors like humidity or temperature fluctuations. Even worse, perishable goods have an inherent risk as they might expire before ever reaching a customer’s hands, leaving you with no option but to dispose of them at your own cost.
Managing inventory effectively demands keen attention to safeguarding against these risks. This requires strategies that ensure efficient turnover and minimise the time items spend in storage.
Protective measures also play an essential role – from robust packaging practices that prevent damage during handling and transport, to climate-controlled environments for sensitive products.
On top of this is maintaining accurate records so that any item nearing its sell-by date can be promptly identified and actions can be taken before it becomes unsellable, reducing both waste and financial loss.
Lost Opportunities and Negative Cash Flow
Holding on to dead stock not only ties up capital that could be invested elsewhere, but also leads to negative cash flow. Every unsold item represents a missed chance to earn revenue; it monopolises warehouse space that could house best-sellers and more profitable products.
Imagine the financial boost your business would get from reallocating resources trapped in these stagnant stocks into areas with higher sales velocity.
Moreover, as time marches on without these items moving, the opportunity costs mount. Funds locked in non-performing goods mean less liquidity for market investments and innovation – key factors in maintaining competitive edge.
Managers must recognise this hidden drain on resources and take decisive action to mitigate its impact before turning attention towards understanding the root causes of dead stock accumulation.
The Root Causes of Dead Stock
Uncovering the root causes of dead stock is essential for any business; delving into this aspect reveals the underlying issues that, once addressed, can significantly improve inventory turnover and overall financial health.
Overbuying and Overproduction
Overbuying and overproduction are two of the biggest contributors to companies avoid dead stock after. Directors should be aware that making decisions to purchase or produce more goods than needed often results in items that just don’t sell.
This excess inventory not only wastes precious resources but also occupies valuable space that could be used for products with a higher turnover rate.
These practices can harm a company’s bottom line by tying up capital in non-moving stock, leading to increased storage costs and decreased liquidity. It is essential for businesses to strike a balance between having enough inventory on hand and avoiding an overstocked warehouse filled with products that may become obsolete before they leave the shelves.
Addressing overbuying and overproduction proactively ensures you have just the right amount of product on hand without risking excess.
Inefficient Inventory Management Systems
Inefficient inventory management systems often pave the way to a surplus of dead stock. It’s the result of inaccurate forecasting and erratic ordering practices that ignore consumer demand and sales trends.
Despite technological advancements, many businesses still grapple with outdated processes that overestimate how much product they need or fail to adjust to market shifts quickly enough.
This not only ties up valuable capital in non-moving inventory but also inflates carrying costs – a double hit on profitability.
A cluttered array of SKUs can signal an alarm for inefficient and poor inventory management controls leading directly to dead stock issues. Without precise tracking and analysis, items easily fall through the cracks, becoming forgotten until they are no longer viable for sale.
Every unsold item represents squandered revenue potential and increases opportunity costs as resources could have been allocated more effectively elsewhere in the business. Effective management strategies must be employed to prevent this from happening; otherwise, companies risk their ability to stay competitive and maintain healthy cash flow levels essential for operations.
Market Trends and Seasonality
Shifting from inventory management systems, understanding market trends and seasonality can significantly impact stock levels. Changes in consumer behaviour often follow predictable patterns throughout the year.
For instance, warm clothing flies off the shelves during winter, but swimsuits sell better in summer. Directors need to ensure their businesses adapt to these fluctuations by adjusting inventory ahead of time.
This proactive approach prevents the accumulation of dead stock as products go out of season.
Retailers who overlook seasonal demand shifts risk being saddled with unsellable items. Aligning purchasing strategies with seasonal trends requires careful analysis and timely action.
Use data-driven insights to anticipate changes in customer preferences and adjust stock orders accordingly. By optimising reorder points and maintaining a lean SKU count, companies can minimise excess inventory while meeting consumer needs throughout the year’s varying cycles.
Product Quality Issues
Product quality issues often lurk behind the scenes, contributing silently to dead stock challenges. Damaged products accumulate dead stock not only reflect poorly on a company’s brand image but also increase holding costs and erode profit margins.
Directors should be acutely aware that such defects in quality can lead to overordered items and incorrect deliveries – factors which feed directly into unwanted inventory accumulation.
Proactive measures must address these quality concerns head-on to prevent them from spiraling into larger operational problems. Regular audits, stringent supplier standards, and robust quality control systems are essential tools in maintaining product integrity.
These steps ensure customer satisfaction remains high while keeping dead stock at bay. With attention now turning towards efficient inventory management systems, it’s crucial for businesses to integrate solutions that can mitigate the impact of product quality issues on overall sales performance.
Inaccurate Market Forecasting
Moving beyond product quality issues, another significant challenge lies in the realm of market forecasting. Predicting consumer demand is tricky; get it wrong, and you’re left with dead stock cluttering your storage space.
Many businesses find themselves caught off-guard by shifts in consumer preferences or emerging trends because their forecasts were off mark. A robust approach to market research can mitigate this risk, ensuring that stock levels align more closely with actual customer interest.
A common misstep for directors is to rely on outdated forecasting methods or incomplete data sets, leading to surplus inventory that no one wants. Better forecasting requires a keen eye on market dynamics and an understanding of customer behaviours.
Utilising advanced analytics tools and incorporating real-time sales data can dramatically improve accuracy in anticipating what will sell. This proactive strategy not only prevents dead stock accumulation but also positions your company to respond swiftly to changing market conditions.
Strategies to Prevent Dead Stock Accumulation
To safeguard your business from the costly repercussions of dead stock, it’s imperative to adopt robust prevention strategies that align with your operational dynamics – delve further to discover how you can protect and move safety stock to enhance your inventory health.
Improve Demand Forecasting Techniques
Efficient inventory management not only keeps your store organised but also sharpens demand forecasting. By using track inventory and analysing sales patterns and market data, businesses can predict future product needs with greater accuracy.
This makes it easier to adjust orders and production schedules accordingly, reducing the risk of dead stock accumulation. Adopting cutting-edge inventory management software serves as a powerful tool in this process, enabling real-time tracking and analysis for smarter purchasing decisions.
Regularly reassessing your inventory forms the backbone of accurate demand forecasting. It allows directors to monitor inventory levels and identify which items are flying off the shelves and which are gathering dust – critical insights for informed restocking.
Additionally, staying attuned to emerging market trends is invaluable for anticipating customer behaviour changes before they impact stock levels. Coupling strong market research with a flexible supply chain puts businesses in an excellent position to handle shifts in customer demand swiftly and efficiently.
Streamline Stock-Keeping Units (SKUs)
Building on enhanced demand forecasting, streamlining SKUs is another pivotal step in combating dead stock. By reducing the number of different products you stock, you can improve the accuracy of your own inventory management system.
Focus on keeping high-performing items and eliminating those that consistently underperform. This simplification leads to a more manageable inventory, allowing for quicker response times to market changes and customer preferences.
To further refine your SKU management, evaluate each product’s contribution to sales and profit margins. Discontinue or merge SKUs with minimal impact to consolidate your offerings and free up resources.
A leaner selection not only reduces the likelihood of dead stock but also optimises warehouse space and improves cash flow by concentrating on items that sell well.
Optimise Order Volumes and Lead Times
To cut down on dead stock, it’s critical to get order volumes right. Strike a balance between having enough stock to meet demand and avoiding excess that could become dead inventory.
Employing just-in-time delivery systems can help achieve this by ensuring products arrive as they are needed, rather than sitting in storage. By analysing sales data and trends, directors can set more accurate order quantities that reflect what their customers really want.
Shortening lead times also plays a pivotal role in reducing the dead stock inventory and risks. Work closely with suppliers to create a supply chain that responds rapidly to market changes. This agility allows for quick adjustments to inventory levels, minimising the chance of overstocking.
Keep your ordering practices consistent and avoid the trap of bulk purchases unless you have clear evidence of guaranteed sales. Implementing these strategies effectively requires robust automated inventory management systems which facilitate timely reordering and prevent stockouts or seasonal overruns.
Implement Inventory Optimisation Software
Embrace the power of inventory optimisation software to form your front line against dead stock woes. This savvy tool equips you with the means for vigilant tracking, offering an eagle-eyed view over every piece of your inventory puzzle in a real-time spectacle.
You’ll revel in the capability it lends you – navigating through aisles of data with ease, pinpointing potential trouble spots before they bloom into costly errors.
Optimising inventory becomes less daunting as this technology aids in sidestepping common pitfalls such as dead stock bad take outs and spoilage. Directorial decision-making sharpens, empowered by live updates that guide swift action ensuring resources are committed where most impactful – keeping dead stock firmly at bay and bolstering your business’s resilience against unforeseen market fluctuations.
Effective Solutions for Managing and Liquidating Dead Stock
Addressing the issue of dead stock requires a multifaceted approach, with both management and liquidation strategies tailored to transform this financial burden into potential gains.
Adopting effective measures can not only recover some of the invested capital but also free up valuable storage space, paving the way for more profitable inventory.
Bundle Products for Promotions
Creating bundles from dead stock items can turn a challenge into an opportunity. Consider combining slower-moving products with bestsellers to make irresistible offers that encourage customers to purchase more.
This tactic not only clears out inventory but also increases the perceived value of each sale, potentially boosting overall profits. It’s about making smart pairings that align with your target market’s preferences and needs.
Implementing product bundling strategies demands creativity and an understanding of consumer behaviour. By crafting exclusive packages or limited-time promotions, you leverage urgency and exclusivity to drive sales.
This approach helps free up valuable warehouse space while revitalising interest in products that may have lost their appeal as standalone items. Keep your eye on combinations that complement each other well; these are often more successful at capturing customer attention and improving the bottom line for your business.
Engage in Creative Merchandising and Refresh Strategies
Bundling products isn’t the only way to tackle dead stock. Think outside the box with creative merchandising and refresh strategies. Transform your retail space by highlighting unique product stories, trendy or seasonal items and creating eye-catching displays that draw attention to older inventory.
Experiment with different themes or seasonal overlays to make these items feel new and desirable again.
Use strategic placement of dead stock products alongside best-sellers: this exposes them to more shoppers, potentially increasing their chance of purchase. Incorporate engaging visuals or interactive elements in-store, leveraging tactics such as flash sales or limited-time offers online to create a sense of urgency.
These efforts can revive interest in products that previously went unnoticed, turning what once was dead stock into profitable assets for your company.
Organise Clearance Sales and Discounts
Moving beyond refreshing your product displays and merchandising, consider leveraging clearance sales and discounts as a tactical approach to address dead stock challenges. Implementing this strategy not only helps free up valuable warehouse space but also recovers part of the investment tied up in non-moving inventory.
Directors should focus on strategically pricing items to create an attractive offer that captures customer interest while still maintaining a margin that mitigates total loss.
By organising targeted, clearance sale events or offering periodic discounts, you can effectively liquidate overordered goods, clear damaged stock, or shift leftover seasonal items before they become obsolete.
This proactive measure keeps inventory moving and prevents the stagnation of capital in products that no longer contribute positively to cash flow or business operations. Engaging with customers through these enticing price reductions also reinforces brand loyalty and can stimulate additional purchases of new stock alongside discounted items.
Explore Return or Buyback Agreements with Suppliers
Clearance sales and discounts may sometimes fall short in solving the dead stock conundrum. In these instances, forging return or buyback agreements with suppliers offers another avenue for directors to effectively tackle excess inventory.
These strategic agreements allow businesses to negotiate the return of unsold items, enabling them to recover part of their investment and clear up space for more profitable products.
Crafting a smart partnership with suppliers that includes a buyback clause provides an additional layer of security against the unpredictability of consumer demand. By incorporating such terms into supplier contracts, companies can ensure they are not left carrying the financial burden alone.
This proactive approach not only improves cash flow but also solidifies supply chain relations and reinforces robust inventory management practices.
Donate to Charity for Corporate Social Responsibility
Donating dead stock to charity is more than just clearing inventory; it’s a strategic move towards corporate social responsibility. This approach not only frees up warehouse space and resources but also strengthens your brand’s standing in the community.
By supporting charitable causes, companies can demonstrate their commitment to societal values and earn goodwill from customers and stakeholders.
Engaging in these philanthropic activities positions your business as a leader in corporate citizenship, enhancing public perception and potentially leading to increased customer loyalty.
Next, consider the benefits of utilising online marketplaces for expanding the reach of your product liquidation efforts.
Utilise Online Marketplaces for Wider Exposure
After considering charitable donations as a means to manage dead stock with CSR in mind, extending your reach through online marketplaces stands as an equally strategic measure. These platforms offer you immediate access to a global customer base hungry for diverse and value-driven products.
With each listing, your dead stock transforms from idle inventory into potential revenue streams without the constraints of geographical boundaries.
By tapping into e-commerce giants or niche online stores, you can showcase your excess items where active shoppers are already searching for their next purchase. This not only speeds up the inventory turnover but also brings down holding costs substantially.
Your business gains visibility and vitality by positioning products in front of millions who may never set foot in a brick-and-mortar location. Through these digital shelves, every unsold item gets another chance at finding its perfect match while mitigating financial losses for your company.
Consider Liquidation Retailers or Auctions
Moving beyond online marketplaces, engaging with liquidation retailers or auction houses offers a strategic avenue for offloading dead stock. These platforms specialise in selling excess inventory, providing businesses with the opportunity to recoup some of their investment on non-moving items.
Liquidation retailers bring the advantage of reaching dedicated bargain hunters and discount shoppers looking for deals.
Partnering with auction sites can also inject speed into the clearance process, exposing your dead stock report to a wide audience quickly and efficiently. Through these channels, dead stock transforms from dormant capital into recovered funds that can support more productive areas within your company.
It’s crucial to collaborate effectively with these vendors, ensuring that your products are represented accurately and conditions are set clearly to make the most out of every sale.
Leveraging Technology to Combat Dead Stock
Harnessing advanced technology stands at the forefront of eradicating dead stock issues, empowering businesses with robust tools to streamline inventory management and mitigate wastage.
Through intelligent systems that offer real-time insights and predictive analytics, companies can transform their approach to stock control, ensuring resources are invested in profitable inventory.
The Role of Inventory Management Software
Inventory management software proves invaluable in tackling the persistent challenge of eliminating dead stock everywhere. It equips businesses with sophisticated tools to align inventory levels closely with actual demand, greatly reducing the risk of surplus stock that eventually becomes unsellable.
Real-time data and analytics provided by these systems support sharper forecasting accuracy, enabling decision-makers to anticipate market changes and adjust their strategies accordingly.
The software tracks key performance indicators (KPIs) meticulously, highlighting problem areas that could lead to an excess SKU count – a notorious culprit behind dead stock. By optimising ordering practices through automated processes and intelligent analysis, it ensures that purchasing decisions are both strategic and economically sound.
In essence, inventory management systems offer a seamless approach to maintain lean inventories as they underpin all efforts to minimise capital tied up in non-moving inventory while maximising business agility and market responsiveness.
Data-Driven Inventory Planning and Analysis
Transitioning from the pivotal role of inventory management software, we delve into the heart of precision and foresight with data-driven inventory planning and analysis. Directors keen on maintaining a lean operation understand that in today’s retail landscape, gut feelings are no match for hard data.
Inventory management software unleashes its full potential when harnessed to analyse past sales trends, predict future demands accurately, and balance stock levels accordingly. By monitoring key performance indicators (KPIs) and employing business intelligence tools, these systems offer a clear view of what items are flying off shelves and which ones are stagnant.
Harnessing this intel translates directly into smarter purchasing decisions. Instead of overstocking or underordering, companies can align their inventory purchases with verified market needs, reducing the risk of dead stock accumulation.
Real-time tracking across multiple channels ensures that every item is accounted for – nothing goes unnoticed or unanalysed. Such granular control equips businesses to react swiftly to any change in consumer behaviour or unexpected shifts in demand ensuring capital isn’t tied up needlessly but instead flows where it counts most: towards growing your company’s profitability and efficiency.
Ensuring Inventory Visibility and Accessibility
Having full visibility of your inventory means knowing what items you have in stock, where they are located, and just how much inventory is at hand at any given time. This crucial element of inventory management keeps dead stock to a minimum by aligning actual stock levels with predicted demand.
Inventory management software is key here; it offers real-time tracking and advanced forecasting tools that enable directors to make smart purchasing decisions based on accurate data.
Making sure your inventory is accessible goes beyond just knowing its current location. It involves structuring storage systems for easy retrieval and keeping items organised so teams can swiftly locate products when fulfilling orders or restocking shelves.
Accessible inventory ensures that every item has the chance to be sold before it turns into dead stock – protecting your capital investment and maintaining healthy cash flow within the company.
Accounting for Dead Stock: Financial Implications
Understanding the financial implications of dead stock is pivotal for businesses aiming to maintain a healthy balance sheet. Properly accounting for these non-selling items can mitigate adverse effects on profitability and ensure accurate valuation of inventory assets.
How to Recognise and Write Off Dead Stock
Recognising dead stock involves identifying inventory that has not sold within a certain timeframe and is unlikely to sell in the future. This shift dead stock can be highlighted by items gathering dust on shelves or simply occupying storage space without turnover.
It’s essential to regularly review sales data, monitor stock levels, and assess trends to pinpoint these non-performing assets accurately.
Writing off dead stock typically requires adjusting your financial records to reflect the loss of potential income from these goods. Start by valuing the inventory realistically at market value or lower, then remove it from your accounting books as an expense.
This process helps clean up your balance sheet and provides a clearer picture of your company’s actual assets and liabilities. Ensure consistency with tax regulations when writing off any inventory to maintain compliance with legal standards.
Impact on Balance Sheet and Profitability
Dead stock can place a heavy burden on your company’s balance sheet. Sitting unsold, these items remain listed as assets; however, their value to the business is questionable, avoiding dead stock effectively inflating the inventory figures without contributing to profit generation.
Regular write-offs become necessary to align the balance sheet with realisable values – actions that directly reduce overall net income.
Each fiscal period resonates with this challenge as carrying costs for storage, insurance and capital depletion chip away at profitability. Without movement or conversion into sales revenue, dead stock acts as a tie-up of liquid assets which could have been invested in more profitable ventures or operational expenses.
Effective management strategies are essential for reversing this trend and bolstering financial health.
Conclusion
In summary, grasping what dead stock is paves the way for smarter inventory control and improved financial health in retail businesses. By recognising its causes, companies can take decisive action to prevent future buildup.
Implementing robust strategies effectively turns this challenge into an opportunity for growth and efficiency. Harnessing the power of inventory management technology becomes a game-changer, ensuring products move swiftly from shelf to checkout.
For every business director, mastering dead stock management marks a crucial step towards sustainable profitability and success.
FAQs
1. What exactly is dead stock in a store?
Dead stock in a store refers to items that have never been sold or used, often staying in the inventory for too long and not contributing to income.
2. Why do companies end up with dead stock?
Companies may have dead stock due to overordering, changes in customer trends, poor market research, or having products with a short shelf life that they can’t sell before expiry.
3. Can you give me examples of what might be considered dead stock?
Examples of those selling dead stock include outdated fashion items like trainers and shoes that are no longer popular, electronics superseded by newer models, and seasonal goods unsold after an event has passed.
4. How can businesses prevent accumulating dead stock?
Businesses can avoid accumulating dead stock by using strategies such as just-in-time (JIT) inventory management, analysing sales data through machine learning tools to forecast future demand more accurately.
5. What strategies exist for dealing with existing dead stock?
To deal with existing deadstock, businesses might consider options such as clearance sales, bundling them with other products at discounted price or liquidating them through discount outlets or third-party sellers like Trademe or Shopify stores.
6. Is managing dead stock important from a financial perspective?
Yes! Managing your stale inventory effectively prevents waste and loss of investment which could otherwise impact employee wages and business’s financial statements negatively if left unchecked.
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