Obsolete stock, also known as dead inventory or excess inventory, refers to inventory that is at the end of its product life cycle. This stock has not been sold or used for an extended period of time and is not expected to be sold in the future. Any company can deal with cases of inventory obsolescence as the times change and so is the customer demand.
The causes of obsolete inventory may vary. One of the main reasons could be an overall decline in demand for the goods produced by a company. Another reason could be the intense competition in the industry, where it’s difficult to catch up with the competitors.
Whatever the reason is for the obsolete stock or deadstock in the warehouses, you should be quick to get rid of it! Because it will dramatically affect the business profitability. Sometimes having no stock at all would be a better option than keeping it in the warehouse for a long time.
Usually, the sale of unsold goods is linked to wholesale clearance, but we put this market in the 21st century. Eastlink, the B2B maritime marketplace allows suppliers and shipyards/companies to digitalize the sale of their excess inventory.
Eastlink comes as a help for the trade relationships between companies and, more specifically, for handling the sale of their excess inventory.
Online sales through Eastlink ensure:
• Increased sales speed and volumes traded by offering products to a more extensive network of buyers;
• increased commercial reach;
• A higher turnover by selling the obsolete stock
• reduced number of intermediaries to ensure that the seller collects maximum revenue;
• Transparency through the entire selling process;
In other words, companies should manage obsolete stock sales proactively rather than passively and focus on optimizing profitability.
Get rid of your obsolete stock by accessing www.eastlink.eu
See related projects
Budget: € 42750.00
Budget: € 9500.00
Budget: € 8500.00