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The concept of inventory, stock or work in process (or work in progress) has been extended from manufacturing systems to service businesses [1] [2] [3] and projects, [4] by generalizing the definition to be "all work within the process of production—all work that is or has occurred prior to the completion of production". In the context of a ...
This is a list of obsolete technology, superseded by newer technologies. Obsolescence is defined as the "transition from available to unavailable from the manufacturer in accordance with the original specification." [1] Newer technologies can mostly be considered as disruptive innovation. Many older technologies co-exist with newer alternatives ...
Inventory obsolescence occurs when retailers and other vendors hold stocks for anticipated future sales which turn out to be too slow to materialise. Holding excessive levels of stock or over-predicting potential demand increase the risks of products becoming obsolete and have a detrimental effect on the organisation's cash flow.
One strategy used to combat DMS is to buy additional inventory during the production run of a system or part, in quantities sufficient to cover the expected number of failures. This strategy is known as a lifetime buy. An example of this is the many 30- and 40-year-old railway locomotives being run by small operators in the United Kingdom.
An end-of-life product (EOL product) is a product at the end of the product lifecycle, which prevents users from receiving updates, indicating that the product is at the end of its useful life (from the vendor's point of view).
If the inventory has decreased in value below historical cost, then its carrying value is reduced and reported on the balance sheet. The criterion for reporting this is the current market value . Any loss resulting from the decline in the value of inventory is charged to " cost of goods sold " (COGS) if non-material, or "loss on the reduction ...
Inventory: Inventory refers to an excess in products and materials that are unprocessed. It is a problem because the product may become obsolete before the customer requires it, storing the inventory costs the company time and money, and the possibility of damage and defects increases over time.
Another definition of NOS is new original stock, referring to aged original equipment parts that remained in unsold inventory. This inventory may sell at a premium in a vintage or collectables market, such as among antique vehicle collectors where enthusiasts seek to repair their vehicles with original parts.