I've had a similar wish/hope. I've lost track of the number of times I've been sent to the floor for something and not found it, only to see the last time it sold was months ago, had no recent delivery date and yet we had "10 on hand" (or some such lowish #), with some # also on the floor.You'd think Target would have a system in place for stuff like this. Kind of like an audit but for things that haven't sold in X amount of weeks or been received in longer. If a list was generated of all items that haven't been received or sold in, say, one month we could then at the store level say "yes it's here maybe this location doesn't need to sell it anymore" or "no it's not here and that's why it hasn't sold". It'd cut down on infs and allow for a better rotation of products.
I think my record was an item that was last sold 1000+ days prior to someone ordering it online for an OPU, no recent delivery and nothing located in back. Interestingly enough I did find it on the sales floor (thank goodness for RFID tags.....).
The market team lead at my store did work at another chain where there was such a report generated for things that hadn't sold in some length of time, I think it's something like 4 or 6 weeks, so someone can try and track down why items on the list haven't sold.