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Surplus Inventory Management
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Before throwing away obsolete or surplus inventory, old or unwanted equipment, furniture, computers, or off-spec waste, consider whether the products might have value to a second user. Investigating alternatives to disposal can reduce carting costs, earn your business revenue or a tax credit, and divert valuable resources from entering the landfill. Consider the following:

Obsolete or surplus inventory and off-spec waste represent the by-products of overpurchasing, poor inventory management and production planning, or error. Of little value (if any) to you and your customers, these by-products must often be discarded as waste.

Although reuse and recycling opportunities often exist for surplus inventory or off-spec waste, such as the reuse program NYC WasteMatch, is better to avoid creating future waste by establishing better purchasing, inventory, or production guidelines. Follow these money-saving ways to improve all-around inventory and product management:

Inspect materials before accepting shipments. Stop damaged, spoiled, or off-spec material or equipment from entering your business.

Talk to your vendors about taking back surplus, discontinued, or outdated products.

Participate in extisting end-of-life take-back programs. These programs are a component of Extended Producer Responsibility, a movement where manufacturers assume greater physical and financial responsibility for the environmental impacts of their products throughout their life cycle. Products typically covered by take-back programs include computes, electronics, rechargeable batteries, carpeting, and ceiling tiles.

Contact recycling vendors for possible revenue-generating opportunities.

Schedule routine inventory checks and rotate inventory accordingly.

Closely re-examine processes where off-spec waste is occuring. Off-spec products or packaging may occasionally occur, but they should not be viewed as an inherent component of production. Whether the problem stems from human or mechanical error, investing staff time or hiring a consultant to get to the root of the problem can save you money.

Establish a centralized purchasing system. Making all purchases go through one department can eliminate overpurchasing and reduce costs through bulk purchasing.

If your business has multiple facilities and cannot track purchasing through a centralized system, ask your vendors to help track your inventory purchases. It is integral to your vendor’s business to know what they are selling, how often, and to whom.

ALSO SEE:
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All businesses are required by New York State law to recycle unwanted computers and monitors with an electronics recycler

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