Goodyear Tire & Rubber Co (GT)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 5.45 | 4.36 | 4.59 | 6.00 | 4.96 | |
| DOH | days | 66.99 | 83.73 | 79.44 | 60.86 | 73.58 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.45
= 66.99
The days of inventory on hand (DOH) for Goodyear Tire & Rubber Co. has shown fluctuating trends over the past five years.
In 2023, the company had 81.52 days of inventory on hand, marking an improvement from the previous year where it was 98.41 days. This decrease suggests that the company was able to manage its inventory more efficiently in the most recent year.
In 2022 and 2021, the DOH figures were 98.41 days and 95.81 days, respectively, indicating a higher level of inventory on hand compared to 2023. This could suggest potential inefficiencies in inventory management during those years.
In 2020, the DOH was 76.02 days, showing a lower level of inventory on hand compared to 2021 and 2022. This might indicate that the company made efforts to streamline its inventory levels during that period.
In 2019, the DOH was 89.69 days, falling between the highs of 2021 and 2022 and the lows of 2020 and 2023.
Overall, the fluctuation in the days of inventory on hand for Goodyear Tire & Rubber Co. over the past five years highlights the importance of effective inventory management strategies to optimize operational efficiency and financial performance.