Compiere Forecast – Obsolete Inventory
Obsolete inventory is a term that refers to inventory that is at the end of its product life cycle. This inventory has not been sold or used for a long period of time and is not expected to be sold in the future. This type of inventory has to be written down and can cause large losses for a company.
For e.g., the Garden World Inventory team is the team responsible for validating the stock report for sales and will come to a conclusion which product is least sold or not sold for a long period of time. Then they are responsible for getting rid of the goods. Those details are captured in the below screen Fore cast Obsolete inventory, which will actually be beneficial for the Tenant Garden world. Forecast of product quantity by period.
The above data says that the on-hand quantity remains the same for the tenant garden world without a single stock being sold after analysis of the sale order transaction report for the past one month the report seems to be empty. So the Inventory user has decided to add the Product to the Forecast obsolete and it should be removed totally from the stock.
