Dead inventory meaning7/7/2023 You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Just upload your form 16, claim your deductions and get your acknowledgment number online. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.Įfiling Income Tax Returns(ITR) is made easy with Clear platform. By doing so, you cannot recoup losses but at least create a good impression on customers and fulfil your corporate social responsibility.Ĭlear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Donate: You can also donate the dead stock.One can tap new customers by using different sales channels. Try to sell using a different sales channel: You can try out a different sales channel such as an online marketplace such as Amazon or Flipkart to sell your products.This may enable you to recoup some losses. Even if he doesn’t give a full refund, he may purchase the dead stock at a certain percentage of the original price. Returning the goods to the supplier: One option is to return such goods to the supplier.It will also free up the warehouse space, which could be used for stacking more popular products. You can also provide a gift to keep the customers motivated to buy such goods. Offering a discount or a gift: You can at least get rid of the dead stock and minimise the loss by offering a discount.Try to bundle the dead stock with popular items which are going to be sold anyway. It means selling the dead stock with a related item at a lower price than customers would pay individually for such things. Bundling goods: One can get rid of dead stock by bundling it with another product.Some of the ways to handle dead stock efficiently in business are: Solution to handle dead stock efficiently in businessĭead stock is a problem that cannot be nullified, but it can be kept to a minimum level. Also, if it is sold at a discount, you may not meet the break-even point or generate profits. Loss of money: The biggest disadvantage of dead stock is the loss of money invested in buying such stock.Less space for popular stocks: As the dead stock occupies the valuable warehouse shelf space, less space is available for fast-moving inventory.Reshuffling, counting, timely disposal, etc., results in increased employee costs. Increased employee salary: More stock on shelves results in increased inventory management.The more cash a company has tied up in inventory, the less it can meet other important obligations. Increased carrying cost of inventory: Carrying cost includes storage space, labour cost and insurance.Some of the disadvantages of dead stock are:
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