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  "documentTitle": "Stryker Corp. (SYK)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2022-04-06 00:00:00",
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      "text": "A former employee with knowledge of Stryker's supply chain told us the Company had inventory problems leading up to COVID-19. Spruce Point observes that Stryker has made multiple subtle revisions to its inventory accounting policy related to valuation.",
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      "text": "By lowering inventory cost assumptions, the effect would be lower Cost of Goods Sold and increased Gross Margins.",
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      "text": "Stryker had a big inventory problem anyway, before COVID, where we were sitting on piles and piles of inventory in certain business segments. But then after COVID struck and it was very important that we saved cash flow and that we try not have too much inventory in the system.",
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      "text": "\"Stryker had a big inventory problem anyway, before COVID, where we were sitting on piles and piles of inventory in certain business segments. But then after COVID struck and it was very important that we saved cash flow and that we try not have too much inventory in the system.\" — Former Stryker Supply Chain Professional",
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      "kind": "source-note",
      "text": "Source: Stryker 2018, 2019, 2020 10-K",
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      "text": "Comparison of inventory accounting policy language across 2018-2021, highlighting the shift from 'market' to 'net realizable value'.",
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      "text": "Signs of Inventory Problems: Multiple Revisions To Inventory Accounting Policy",
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