How can I effectively purge excess inventory from my site?

I have over 6,000 products on my site. We are using around 20 different vendors. Some of our inventory is not tracked. Some are. Any practical suggestions on how to purge inventory?

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I am interested in the slow moving products. Do you have a recommended time on items that would be considered slow moving? 1 year? 5 years? I know it’s industry specific but is there is a general rule?

Also, I have tons of products that are not tracked. Should I enable tracking for them?