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.