Managing declining demand for a product requires proactive inventory management strategies aimed at minimizing inventory holding costs and maximizing profitability. One approach is to implement promotional activities, such as discounts or bundle offers, to stimulate demand and encourage sales. Adjusting pricing strategies, such as implementing dynamic pricing or tiered pricing structures, can also help align product pricing with market demand and increase competitiveness. Liquidating excess inventory through clearance sales or liquidation channels can help clear out slow-moving or obsolete inventory and free up valuable warehouse space. Repurposing products for alternative markets or applications can help tap into new customer segments and extend the product lifecycle. Additionally, optimizing production schedules and inventory levels based on demand forecasts can help prevent overproduction and reduce excess inventory accumulation. By implementing these strategies, businesses can effectively manage declining demand for a product, minimize inventory holding costs, and maximize profitability.