noun an amount of something left over when requirements have been met; an excess of production or supply over demand
adjective more than what is needed or used; excess
In economics, surplus refers to the excess of production or supply over demand, leading to lower prices and potential waste.
In manufacturing, surplus production can lead to overstock or excess inventory that needs to be addressed to maintain efficiency.
In agriculture, surplus can refer to excess produce or crops that are not needed for immediate consumption.
In accounting, surplus is the amount by which income exceeds expenditures or liabilities.
In nonprofit organizations, surplus funds can be used for future projects or to build reserves for unexpected expenses.
In retail, surplus inventory can lead to clearance sales or markdowns to sell excess stock.
In supply chain management, surplus can refer to excess capacity or inventory that needs to be optimized or reduced.
In inventory management, surplus inventory is excess stock that needs to be managed to prevent waste or obsolescence.
In government budgeting, surplus refers to a situation where revenue exceeds expenditures, leading to a budget surplus.
In the publishing industry, a surplus of manuscripts may lead to a competitive selection process for publication.
A surplus of clients seeking therapy services may require a psychologist to prioritize appointments and referrals.
A surplus of funds in a company's budget may prompt an accountant to recommend strategic investments or savings.
A surplus of inventory may indicate inefficiencies in production or changes in consumer demand for a manufacturer.
A surplus of unsold products may require a retailer to implement marketing strategies or clearance sales to reduce excess stock.
A surplus of students in a classroom may necessitate the use of additional teaching resources or the creation of smaller group activities.
A surplus of ingredients in a restaurant kitchen may inspire a chef to create daily specials or new menu items to utilize the excess supplies.
A surplus of materials in a construction project may lead an engineer to revise plans or find alternative uses for the extra resources.
A surplus of cases assigned to a lawyer may require efficient time management and delegation to ensure all clients receive adequate representation.
A surplus of patients in a hospital may result in longer wait times or the need for additional medical staff to accommodate the increased demand.