This rare noun denotes the process of using something up until it's depleted or consumed. Classical sources use it for getting rid of excess or for the consumption and depletion of resources. The context in Colossians suggests items that perish or are used up through consumption. Paul employs it in his critique of human regulations, noting that such commands concern things that 'all perish with use'—they're about perishable, consumable items that have no lasting spiritual significance.