What are the Functions of Obsolescence Monitoring in the Inventory Management Process?

[Suba]

In inventory management, Obsolescence Monitoring is a systematic process to monitor the inventory of merchandise that will expire, become unsaleable, become damaged, changes in product trends, models, etc. In practice, the inventory obsolescence monitoring system does not only rely on manual operations but is often assisted by RFID (Radio Frequency Identification) which is installed on each type of item so that it can be monitored remotely, so that stock can always be monitored accurately and more precisely.

Some of the functions or benefits of obsolescence monitoring that I know are that it will prevent losses due to damaged goods, next is your turn?

 

[Augusta]

Monitoring how long items have been in stock helps identify items that are approaching obsolescence due to their age.