How do you handle obsolete or slow-moving inventory?

Your Answer

How To Answer This Question?

When answering this question, emphasize your strategic approach to inventory management. Discuss specific methods you use to identify obsolete or slow-moving inventory, such as regular inventory audits or using inventory management software. Explain the steps you take to address these issues, like discounting items, bundling them with faster-moving products, or finding alternative uses for them. Provide examples from your past experience where you successfully managed slow-moving inventory, highlighting the positive impact on the company's bottom line. For instance:

"In my previous role, I conducted monthly inventory audits to identify slow-moving items. I implemented a discount strategy to clear out these items, which not only freed up warehouse space but also improved cash flow. Additionally, I worked with the marketing team to bundle slow-moving products with popular items, increasing overall sales."