Meaning
Effective handling of excess resources is crucial for any organization’s financial health and operational efficiency.Definition
Surplus Management refers to the strategic process of identifying, storing, reallocating, or disposing of excess inventory, assets, or resources within an organization. It aims to prevent waste and optimize asset value.Key Objectives
The primary goals include minimizing waste, reducing holding costs, optimizing resource utilization, and improving financial performance.Benefits
Key benefits are enhanced operational efficiency, significant cost savings, improved cash flow, and reduced environmental impact.Author
