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Inventory Aging Report And Why Organizations Should Have It
By: ann george
Inventories and stocks are an imperative part of businesses and it is crucial to keep a track of them for making better decisions and strategies. Generating accurate and timely inventory aging reports can bring a massive shift in your business growth. When handled properly, inventory aging reports can aid in getting rid of outdated goods which opens up prospects for more sales resulting in satisfied customers. To know better about inventory aging reports, let's go through the details shared below.
What is an inventory aging report
An inventory aging report or stock aging report represents the key metrics on the status of inventories utilized in the firms. In essence, it is a list of the inventory goods arranged by how long they have been in stock. The aged inventory report is the simplest tool for identifying slow-moving or obsolete inventory that needs to be revalued in order to accurately compute your cost of goods sold. The insights from inventory aging reports enable business owners to predict some of the potential occurrences that could affect the firm in business.(read
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