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INVENTORIES | 3 Months Ended
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Jan. 28, 2023
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES As of the dates indicated, inventories are comprised of the following (in thousands):
| January 28, 2023 |  | October 29, 2022
Raw materials | $ | 846,564 |  |  | $ | 664,916 |
Work-in-process | 18,422 |  |  | 18,232 |
Finished goods | 300,684 |  |  | 258,584 |
Deferred cost of goods sold | 51,319 |  |  | 41,084 |
Gross inventories | 1,216,989 |  |  | 982,816 |
Reserve for inventory excess and obsolescence | (38,900) |  |  | (36,086) |
Inventories, net | $ | 1,178,089 |  |  | $ | 946,730 |
The increase in raw materials inventory is related to the steps Ciena is taking to mitigate the impact of current supply chain constraints in the context of the global market shortage of semiconductor components. Ciena writes down its inventory for estimated obsolescence or unmarketable inventory by an amount equal to the difference between the cost of inventory and the estimated net realizable value based on assumptions about future demand, which are affected by changes in Ciena’s strategic direction, discontinuance of a product or introduction of newer versions of products, declines in the sales of or forecasted demand for certain products, and general market conditions. During the first three months of fiscal 2023, Ciena recorded a provision for inventory excess and obsolescence of $5.5 million, primarily related to a decrease in the forecasted demand for certain Networking Platforms products. Deductions from the provision for excess and obsolete inventory relate primarily to disposal activities.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
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