Obsolete inventory is one of the largest components of inventory cost and often is larger and more costly than executives are willing to admit. Many suggest optimistically (and often sheepishly) that ...

The accounting treatment of obsolete items can have a dramatic effect on the financial statements of any business. Therefore, it is important for every owner to understand the principles of accounting ...

High-tech products evolve at breakneck speed, which can be a good thing for consumers who want the latest and greatest. But it also means products can quickly become marginalized (requiring sellers to ...

In the pandemic era, the growth of the global economy is already moving at a slow pace. An obsolete supply chain may slow down your business further. Generally, an existing supply-chain function may ...

Though executives and analysts can't pinpoint the percentage of components that will sour before demand picks up, they have acknowledged that some parts will become obsolete while waiting for a buyer.

To be able to account for inventory write-off, you need to know basic accounting. If you are not keeping books and records on a general ledger that has journal entries, then your small business does ...

Lean Six Sigma can reduce waste in any corporation. Taking a closer look at the high and low level causes of supply chain issues can illuminate where issues are. Proper usage of LSS techniques can ...

If tossing spoiled products into the dumpster and paying suppliers’ restocking fees is costing your business money, here’s how to polish your inventory management approach and operate more sustainably ...

If you were to rank the most common inventory mistakes, failure to forecast demand — which results in excess inventory — would certainly be near the top of the list. For many companies, the move to ...

Jilin Chemical Industrial has reported the largest annual net loss by an H share, 1.81 billion yuan (about HK$1.69 billion), due to huge provisions against obsolete inventory and uncollected ...