Once you have been selling online for a period of time, you inevitably end up with some slow moving inventory. What’s slow moving inventory? It is the stock that just doesn’t move or moves very slowly in comparison to your other stock items. These items take up valuable space as well as retain the capital you expended in purchasing the items. Sometimes, as the items age, they can become even less valuable and result in further losses. Your business growth could be hampered and even totally stifled by having too many slow moving inventory items. So what can be done to reduce the problem?
What is slow moving inventory?
Slow moving inventory item for you might not be the same for a different seller. Also, how you define your slow movers could differ too. Here are a few basic ways of determining a slow moving inventory item.