OKR template to lower unvalued inventory by 10%
The OKR titled "Lower unvalued inventory by 10%" involves reducing non-usable or non-essential stock. The first outcome is to implement disposal or revaluation strategy for half of the items identified, involving evaluating their market value, identifying potential buyers or recyclers, and initiating negotiations or disposal processes.
The second outcome is to identify the top 20% of unvalued items within a fortnight. Achieving this requires ranking items based on certain criteria, establishing criteria for determining their value, and assessing the inventory for potential unvalued items.
The third outcome is a monthly reduction of 5% in the unvalued inventory. To achieve this, the strategies involve increasing sales promotions to remove the unvalued stock, conducting regular audits to spot obsolete inventory, and better management of stock levels.
The cumulation of these steps will lead to a 10% reduction in unvalued inventory. This will improve inventory management, increase useful stock, and reduce costs associated with storing unvalued items.
The second outcome is to identify the top 20% of unvalued items within a fortnight. Achieving this requires ranking items based on certain criteria, establishing criteria for determining their value, and assessing the inventory for potential unvalued items.
The third outcome is a monthly reduction of 5% in the unvalued inventory. To achieve this, the strategies involve increasing sales promotions to remove the unvalued stock, conducting regular audits to spot obsolete inventory, and better management of stock levels.
The cumulation of these steps will lead to a 10% reduction in unvalued inventory. This will improve inventory management, increase useful stock, and reduce costs associated with storing unvalued items.
Lower unvalued inventory by 10%
Implement disposal or revaluation strategy for 50% of identified items
Evaluate current market value for selected items- Identify potential buyers or recyclers for 50% of identified items
- Initiate negotiations or disposal process
- Identify top 20% of unvalued items within two weeks
- Rank items based on set criteria
- Establish criteria for determining item value
- Assess inventory for potential unvalued items
- Achieve 5% reduction in unvalued inventory every month
- Increase sales promotions to eliminate unvalued inventory
- Conduct regular audits to identify obsolete inventory
- Implement a better management system for stock levels