Inventory obsolescence is the impact of time on a business’s unsold products and materials. As technology advances, outdated items become less attractive to buyers, resulting in a loss of value for businesses. Inventory obsolescence can be caused by many factors, including changing trends, economic downturns, or seasonal shifts. Whatever the cause, companies must take steps to protect their profits from deteriorating stock that becomes obsolete over time. This could include selling items at discounted prices, donating them to charity, or recycling them for parts. It’s vital for companies to stay ahead of the curve when it comes to inventory obsolescence – taking proactive steps now can help mitigate potential losses down the road.