Boost Profits by Eliminating Products
Many product-oriented businesses have grown by introducing new offerings. Over time their product lines grow long. Some items sell a lot while sales of others dwindle but the product is still available for purchase. It may sound counter-intuitive, but trimming your product line you can increase your profitability.
You have cash tied up in inventory can be used for something else in the business that is more profitable or urgent
The product gets too close to its shelf life and either cannot be sold or must be sold at a significant discount