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INVENTORIES | 9 Months Ended
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Jul. 29, 2023
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES As of the dates indicated, inventories are comprised of the following (in thousands):
| July 29, 2023 |  | October 29, 2022
Raw materials | $ | 771,955 |  |  | $ | 664,916 |
Work-in-process | 51,763 |  |  | 18,232 |
Finished goods | 333,544 |  |  | 258,584 |
Deferred cost of goods sold | 77,521 |  |  | 41,084 |
Gross inventories | 1,234,783 |  |  | 982,816 |
Reserve for inventory excess and obsolescence | (42,261) |  |  | (36,086) |
Inventories, net | $ | 1,192,522 |  |  | $ | 946,730 |
The increase in raw materials inventory is related to the steps Ciena has taken to mitigate the impact of supply chain constraints on its business and customers in recent prior periods and a global market shortage of semiconductor components. The increase in finished goods inventories resulted primarily from planned fulfillment of customer advance orders for which some deliveries have been rescheduled. 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 nine months of fiscal 2023, Ciena recorded a provision for inventory excess and obsolescence of $18.8 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 -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
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