Essay On Dead Stock
Assignment
On
Integrated Materials Management
Topic: Practical problems in management of Dead Stock, Surplus Stock and Scraps- Systems and Procedures for disposal and control
Submitted By, Surya Dileep MBA B-1365
Practical problems with dead stock, surplus stock and scraps
Dead stock, surplus stock and scraps require critical decision making in inventory management. Dead stock mostly occurs when there is no proper communication and need assessment resulting in too much of stocks. Surplus stock is otherwise known as excess stock which is the additional
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Scraps also consume space and become a source of additional cost due to wastes. The administration of scraps and scrap handling become a burden to managers and utilize their quality time.
Systems and procedures for disposal and control of dead stock, surplus stock and scrap
A robust inventory management system provide best operating procedures, methods for disposal of dead stock , analyze past records and adapt to present trends. Problem of handling dead stocks can be avoided by following these steps:
• Employ information Technology for Inventory Management which reduces manual inventory control interventions and increase the efficiency of Supply Chain
• Maintain real time records of inventory movements
• Update stock levels on real time both in inventory and store
• Maintain stocks in the inventory based on the economic order quantities and minimum accepted stock levels
• Distributors can go to the sales force and get inputs on what customer expects
• Dead stock has to be moved immediately out of the
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