{"id":15599,"date":"2024-01-03T11:41:00","date_gmt":"2024-01-03T06:11:00","guid":{"rendered":"https:\/\/www.vue.ai\/blog\/?p=15599"},"modified":"2024-01-24T11:58:38","modified_gmt":"2024-01-24T06:28:38","slug":"what-is-excess-inventory-and-how-can-it-be-managed","status":"publish","type":"post","link":"https:\/\/www.vue.ai\/blog\/ai-in-retail\/what-is-excess-inventory-and-how-can-it-be-managed\/","title":{"rendered":"What is Excess Inventory and How Can it be Managed?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69eb43485982f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69eb43485982f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/what-is-excess-inventory-and-how-can-it-be-managed\/#what-is-excess-inventory\" title=\"What is Excess Inventory ?\">What is Excess Inventory ?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/what-is-excess-inventory-and-how-can-it-be-managed\/#why-does-excess-inventory-exist\" title=\"Why Does Excess Inventory Exist?\">Why Does Excess Inventory Exist?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/what-is-excess-inventory-and-how-can-it-be-managed\/#what-are-the-disadvantages-of-excess-inventory\" title=\"What Are the Disadvantages of Excess Inventory?\">What Are the Disadvantages of Excess Inventory?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/what-is-excess-inventory-and-how-can-it-be-managed\/#excess-inventory-and-inventory-turnover\" title=\"Excess Inventory and Inventory Turnover\">Excess Inventory and Inventory Turnover<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/what-is-excess-inventory-and-how-can-it-be-managed\/#excess-inventory-and-wasted-resources\" title=\"Excess Inventory and Wasted Resources\">Excess Inventory and Wasted Resources<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/what-is-excess-inventory-and-how-can-it-be-managed\/#is-excess-inventory-good-or-bad\" title=\"Is Excess Inventory Good or Bad?\">Is Excess Inventory Good or Bad?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/what-is-excess-inventory-and-how-can-it-be-managed\/#excess-inventory-management\" title=\"Excess Inventory Management\">Excess Inventory Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/what-is-excess-inventory-and-how-can-it-be-managed\/#how-do-i-sell-excess-inventory\" title=\"How Do I Sell Excess Inventory?\">How Do I Sell Excess Inventory?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">3<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-is-excess-inventory\"><\/span>What is Excess Inventory ?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Excess inventory<\/strong> is a product that has not yet been sold and that exceeds the projected consumer demand for that product.<\/p>\n\n\n\n<p>It usually represents some type of mismanagement of stock demand due to factors such as over-buying, inaccurate projections, cancelled orders, a bad economy, unforeseen weather changes,&nbsp;unpredictable consumer demand&nbsp;or late or early delivery of goods.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"why-does-excess-inventory-exist\"><\/span>Why Does Excess Inventory Exist?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Excess inventory can be the result of a number of disruptions in the product cycle. These factors can be broken down into three categories:<\/p>\n\n\n\n<ul><li>60% Shipment delays \u2013 Delays due to factors like processing times, order frequency and international regulations.<\/li><li>25% Technical challenges \u2013 Issues caused by system integration, purchase orders, <a href=\"https:\/\/en.wikipedia.org\/wiki\/Electronic_data_interchange\">EDI<\/a> processing and lack of visibility into business.<\/li><li>15% Other factors \u2013 For example returns or quality requirements.<\/li><\/ul>\n\n\n\n<p>Consumer behavior and market trends can also play a significant role in creating excess inventory. In the&nbsp;retail&nbsp;and&nbsp;home goods&nbsp;industries, it can occur as soon as the seasonal trends change.&nbsp;<\/p>\n\n\n\n<p>In industries that deal with fast-moving&nbsp;consumer goods&nbsp;where demand is hard to predict, it is often caused by a miscalculation in customer demand, leading to companies over-stocking in slower-moving items.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-are-the-disadvantages-of-excess-inventory\"><\/span>What Are the Disadvantages of Excess Inventory?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Excess inventory presents a&nbsp;number of issues&nbsp;relating to&nbsp;waste, storage, and additional costs. However, the two main&nbsp;disadvantages of this&nbsp;are:<\/p>\n\n\n\n<ul><li><strong> Excess inventory ties up cash flow.<\/strong><\/li><\/ul>\n\n\n\n<p>A company acquires inventory for the purpose of reselling the merchandise at a profit turning that inventory into cash that can be used to pay the day-to-day expenses of the company. It decreases this cash flow by holding the cash in goods form and preventing it from being put to use elsewhere.<\/p>\n\n\n\n<ul><li><strong>Excess inventory represents a loss of revenue.<\/strong><\/li><\/ul>\n\n\n\n<p>Excess merchandise loses value the longer it is held in stock, as the demand for that product diminishes, and it takes \u201cshelf space\u201d away from a newer product with perhaps a higher profit margin. Additionally, holding costs for excessive inventory such as warehousing, insurance, and taxes, further diminish profits.&nbsp;Having excess products with an expiration date represents an even bigger loss as these items are no longer viable once the date has passed and will have to be disposed of entirely \u2013 without any return on investment.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"excess-inventory-and-inventory-turnover\"><\/span>Excess Inventory and Inventory Turnover<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Inventory turnover measures how quickly a business is selling inventory and how this compares against industry averages. A low turnover suggests poor sales and therefore excessive inventory, whilst a higher turnover indicates strong sales, big discounts, or indeed both.<\/p>\n\n\n\n<p>Working out your inventory turnover is a good way of establishing what items are reducing your cash flow and unnecessarily costing your business.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"excess-inventory-and-wasted-resources\"><\/span>Excess Inventory and Wasted Resources<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When a product sits idly on a shelf or in a warehouse, it represents a&nbsp;waste of all the resources&nbsp;that went into making it. More so, when&nbsp;it&nbsp;cannot be sold due to factors such as expiration or damage, it has to be disposed of. The disposal of inventory not only represents a waste of all the money and energy that went into production, but is also often incredibly damaging to the environment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"is-excess-inventory-good-or-bad\"><\/span>Is Excess Inventory Good or Bad?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Not only does excess inventory restrict cash flow, but it also loses the company money each day. When hundreds of thousands of dollars are tied up in inventory, it\u2019s a big deal for a company and can tremendously impair the business\u2019s growth. Needless to say, it can heavily restrict a business, and is therefore typically a negative.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"excess-inventory-management\"><\/span>Excess Inventory Management<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Effective&nbsp;excess <a href=\"https:\/\/www.vue.ai\/solutions\/excess-inventory-management\/\">inventory managemen<\/a>t&nbsp;is achieved by having the right technology in place. With a centralized system of record enabling inventory information to be viewed, accessed and updated from anywhere, brands gain&nbsp;improved visibility&nbsp;and control over their inventory. Leveraging both current and historical data on inventory performance will also yield better inventory management results by providing insights that inform more effective management decisions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how-do-i-sell-excess-inventory\"><\/span>How Do I Sell Excess Inventory?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>This is where&nbsp;off-price&nbsp;can help. To help gain back money that would otherwise be tied up in excessive inventory or spent on holding costs, it can be sold off-price.&nbsp;Due to the number of factors impacting a&nbsp;supply chain,&nbsp;it is an inevitable part of&nbsp;most industries, but&nbsp;by optimizing inventory&nbsp;through&nbsp;selling excessive products&nbsp;on to off-price retailers, brands can recover revenue that would otherwise be lost, thereby helping them to hit their margins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">3<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span> What is Excess Inventory ? Excess inventory is a product that has not yet been sold and that exceeds the projected consumer demand for that product. It usually represents some type of mismanagement of stock demand due to factors such as over-buying, inaccurate projections, cancelled orders, a bad economy, unforeseen weather changes,&nbsp;unpredictable consumer demand&nbsp;or late  &#8230;<\/p>\n","protected":false},"author":23,"featured_media":15601,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1162,1471],"tags":[1507,1470,1472,1473,1508],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Excess Inventory ? : Complete Guide (2024) (Updated) | Vue.ai<\/title>\n<meta name=\"description\" content=\"Excess inventory is a product that has not yet been sold and that exceeds the projected consumer demand for that product.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vue.ai\/blog\/ai-in-retail\/what-is-excess-inventory-and-how-can-it-be-managed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is Excess Inventory ? 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