Clearance refers to the action of reducing or eliminating excess or unwanted inventory levels within a company. It can be driven by various factors, such as the need to free up storage space, generate cash flow, address obsolete or expired products, or achieve quick sales for various reasons, such as the end of a season or the closure of a retail location.
Clearance may involve price reductions, special promotions, bulk sales, or other measures aimed at expediting the sale of products and reducing inventory. This can help companies minimize storage costs and avoid potential financial losses.
