Occidental Petroleum Corporation (OXY)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		2.44	2.27	2.27	2.04	4.33
DOH	days	149.40	160.45	161.00	179.01	84.37

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.44
= 149.40

The days of inventory on hand (DOH) for Occidental Petroleum Corp. have fluctuated over the past five years, reflecting changes in the company's inventory management efficiency. In 2023, the DOH stood at 236.85 days, which was slightly higher compared to the previous year's 229.62 days. This indicates that the company held its inventory for a longer period in 2023 before it was sold or used, possibly due to changes in demand, production levels, or supply chain disruptions.

Looking back, in 2021, the DOH was 243.07 days, which was higher than the current year. In contrast, in 2020, the DOH was significantly higher at 287.70 days, reflecting a prolonged holding period for inventory. The year 2019 saw the lowest DOH at 189.24 days, suggesting more efficient inventory management compared to the other years.

Overall, Occidental Petroleum Corp. has experienced variations in its DOH metric, signaling changes in inventory stocking practices and operational efficiency. It may be important for the company to closely monitor and optimize its inventory levels to achieve a balance between meeting demand and controlling costs.