You're facing excess inventory and low demand. How can you minimize the financial impact?
Got strategies for tackling excess inventory with low demand? Dive in and share your savvy solutions to soften the financial blow.
You're facing excess inventory and low demand. How can you minimize the financial impact?
Got strategies for tackling excess inventory with low demand? Dive in and share your savvy solutions to soften the financial blow.
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To minimize the financial impact of excess inventory and low demand, offer discounts or promotions to move stock, adjust production to prevent further overstocking, and explore alternative sales channels. Also, consider repurposing or recycling unsold items to reduce losses.
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Supply chain optimization is a key tool for minimizing financial losses due to excess inventory and low demand. The first step is to review demand forecasting by implementing more flexible models based on real-time data (Demand-Driven MRP or Lean). In parallel, it is worth focusing on sales through alternative distribution channels, including secondary markets, auctions, and discount platforms. It is also necessary to negotiate with suppliers to revise contract terms and supply volumes, and implement consignment models. The disposal of illiquid balances can be minimized through repackaging or product modification for other segments.
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