Provided are a method, a non-transitory computer-readable storage device and an apparatus for managing use of a shared memory buffer that is partitioned into multiple banks and that stores incoming data received at multiple inputs in accordance with a multi-slice architecture. A particular bank is allocated to a corresponding slice. Received respective data packets are associated with corresponding slices based on which respective inputs they are received. Determine, based on a state of the shared memory buffer, to transfer contents of all occupied cells of the particular bank. Writes to the bank are stopped, contents of occupied cells are transferred to cells of one or more other banks associated with the particular bank's slice, information is stored indicating where the contents have been transferred, and the particular bank is returned to a shared pool after transferring is completed.