Got Excess Inventory? Look how to move it out
Be it any business, having extra inventory lying around is not only bad in fact it is very negative for your trade. A stagnant inventory is not there to just take up special space of a warehouse rather it also block your cash flow. And I don’t think that I need to reveal what happens when cash flow is disturbed. In case you have excessive inventory around you, you have to be into it to get it moving and make it the best try ever.
Here are a few tips to help do away with excess inventory.
Look for the reasons
The foremost thing that you have to do is find a reason - why burdened with excessive inventory in your retail store or your warehouse. Once you are done finding the reasons, your duty is to resolve the issue so that the mistake does not get repeated again. Additionally when you have a small business, its very important to check on every single operation of the business. To shift your current excessive inventory, it is better if you try marketing your stuff in a way that’s different and is attractive. Like one can get into advertising in a different tone of voice. This will actually optimize the value of your product.
Offer Discounts in Bulk
Observe your customer’s attitude towards the things and look out for the plan that works better with them. Based on this only, one can offer bulk discounts. Now these bulk discounts may work in plenty of ways – either one can bundle up complementary products or one can provide quantity discount offers. Meanwhile observe keenly what works with your business.
Get in touch with Liquidator
It may that you are in dire need of money and cannot wait for longer time to move the excess inventory out of warehouse. In this situation one can contact liquidator and sell it off to them in bulk. These agents will further sell this stock on your behalf. Liquidators do not only mean finding a person physically, one can take assistance of online businesses or there are plenty of websites doing this efficiently. But before doing all this and starting with the process first of all make sure that you know the exact value of your inventory and also decide how much is the amount you are willing for out of it.
Eventually if you are looking forward to optimize your inventory management process, Uprow is one of the exclusive and efficient service provider. The software has got sophisticated solutions which ensure that you are stocking up the exact amount of stock while optimizing the complete inventory and ordering process. Get in touch to know more about the software and its functionalities.