obsolescence

(noun)

The state of being obsolete—no longer in use; gone into disuse; disused or neglected.

Related Terms

Examples of obsolescence in the following topics:

  • Noncash Items

    • A machine bought in 2012, for example, will not be worth the same amount in 2022 because of things like wear-and-tear and obsolescence.

  • Inventory Turnover Ratio

    • A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
    • A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.

  • Receipts