Ufp Industries Inc (UFPI)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 7.97 | 8.05 | 7.50 | 7.67 | 7.66 | |
| DOH | days | 45.80 | 45.33 | 48.64 | 47.56 | 47.64 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 7.97
= 45.80
The days of inventory on hand (DOH) for Ufp Industries Inc have shown some variability over the past five years. In 2023, the DOH was 45.80 days, slightly higher than the previous year's 45.33 days. This indicates that, on average, Ufp Industries held its inventory for approximately 45.80 days before selling it in 2023.
Compared to 2021 and 2022, there was a slight improvement in inventory management efficiency in 2023 as the DOH decreased. However, when considering a longer-term perspective, the DOH in 2023 was still lower than in 2021 when it was 48.64 days.
Overall, Ufp Industries Inc has been able to maintain a relatively stable level of inventory turnover over the past five years, with fluctuations within a narrow range. It is essential for the company to continue monitoring and optimizing its inventory management practices to ensure efficient operations and maximize profitability.