How to handle offcut inventory material?

We have the following challenge:

·         A company buys a wooden board with the following dimensions 4M x 2M x 20MM.

·         A client of theirs requires a board of 1M x 1M x 20MM.

·         The company cuts 1M x 1M out of their 4M x 2M board leaving a L-shaped off-cut.

·         How can the off-cut be dealt with in inventory. Each off-cut is unique in shape so creating a new inventory item is cumbersome and will clutter the item master.

·         Our thinking is along the lines of creating a 20MM off-cut item and assigning to it the usable dimensions (i.e. the two potential overlapping rectangles that make up the L-shape). This might overstate inventory but will provide user friendly information for users who check the off-cut inventory the next time a small board is required.