Solar Inventory management needs to help improve demand planning and liquidity/cash flow. It also needs to help accomplish distributed storage and match labor availability to sales orders and inventory levels. The best techniques for solar inventory management are the Reorder point formula, Consignment and Safety Stock.
Regardless, the safest bet is to limit the amount of inventory you carry that’s not directly for a sale order that you have in your hand. So, one of the key objectives of inventory planning is to help preserve your capital by limiting the amount of “yet-to-be-sold” inventory. When it comes to solar inventory, Storage is a non-negligible cost.
The best techniques for solar inventory management are the Reorder point formula, Consignment and Safety Stock. Solar Inventory includes inventory management of solar modules, solar cells, PV materials, solar paste, silicon wafers, frames, backsheets, junction boxes, PV glass, PV Equipment, PV connectors and racking & mounting.
Solar inventory can also get devalued because of frequent price drops. Sales cycles are not very predictable because demand is closely linked to consumers’ energy bills, price volatility and incentives provided by governments. Solar Inventory management needs to help improve demand planning and liquidity/cash flow.
The volatile nature of the solar industry makes Solar Inventory management a challenging task. Excess solar inventory can very quickly be made obsolete by new technology. Solar inventory can also get devalued because of frequent price drops.
Marius Mordal Bakke, a senior supply chain analyst at Rystad Energy, emphasized his concerns about the declining prices of solar PV modules in the market and the challenges associated with destocking older modules, which were procured at higher costs. He underscored the necessity for the industry to adapt to shifting market dynamics.
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