BioLife Solutions Inc (BLFS)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 2.46 | 3.32 | 3.24 | 4.67 | 5.42 | 4.32 | 4.31 | 2.20 | 1.99 | 1.08 | 1.00 | 2.00 | 2.13 | 3.53 | 3.12 | 2.70 | 2.18 | 3.50 | 3.36 | 4.03 | |
| DOH | days | 148.62 | 109.82 | 112.73 | 78.10 | 67.28 | 84.42 | 84.75 | 165.84 | 183.80 | 337.61 | 364.65 | 182.66 | 171.30 | 103.50 | 116.87 | 135.39 | 167.51 | 104.22 | 108.59 | 90.58 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.46
= 148.62
Days of Inventory on Hand (DOH) measures the number of days it takes for a company to convert its inventory into sales. A lower DOH indicates a more efficient inventory management system.
Analyzing the data for BioLife Solutions Inc, we observe fluctuating trends in the DOH over the past few years. In the most recent quarter, the DOH was 148.62 days, indicating an increase from the previous quarter. This suggests that the company may be carrying excess inventory or facing challenges in selling its products efficiently.
Comparing the current DOH to historical data, we see that BioLife Solutions Inc has experienced significant variability in inventory turnover. For instance, in March 2021, the DOH was relatively high at 364.65 days, indicating potential inventory management issues. However, the company made improvements in inventory turnover by reducing the DOH to 67.28 days by the end of December 2022.
Overall, BioLife Solutions Inc may benefit from further analysis of its inventory management practices to ensure optimal levels of inventory, efficiently convert inventory to sales, and maintain a balance between carrying costs and stockouts.
Peer comparison
Dec 31, 2023