Manage Excess Stock with Effective Liquidation Workflow

Identify Excess Stock

Type: Fill Checklist

The Identify Excess Stock business workflow step involves determining which stock items are in surplus quantity. This process is essential for optimizing inventory levels and preventing overstocking. The workflow typically begins with a thorough analysis of existing stock quantities against projected sales figures. Next, the team identifies products that have exceeded their optimal stocking levels based on historical data and market trends. They may also consider factors such as product obsolescence, seasonal fluctuations, and supplier lead times to determine which items are likely to remain in excess stock for an extended period. Once excess stock is identified, the next steps in the workflow would involve deciding on actions such as liquidating or repurposing these items to minimize waste and maximize value.