What is the term for stock that is no longer needed by a business?

The correct term for stock that is no longer needed by a business is "redundant stock." Redundant stock refers specifically to inventory that exceeds the current requirements of the business, often because of changes in demand, production overruns, or strategic shifts in focus. Identifying and managing this type of stock is crucial for operational efficiency and cost management, as it can lead to increased holding costs and affect the overall financial health of the organization.

In contrast, "overstock" typically refers to anything that exceeds the expected levels of stock but does not necessarily imply that it is obsolete or unneeded. "Excess stock" can sometimes be used interchangeably with overstock, but it may not specifically indicate that the stock is obsolete. "Inventory" is a broader term that encompasses all items that a business holds for the purpose of resale or production, including both needed and redundant stock.