Slow Moving Inventory: How to Deal with It (Part 2)

Slow Moving Inventory

You have determined your slow moving inventory items, now what? 

Stock that sits in your warehouse and does not sell or sells extremely slowly costs you money!  The space and the capital they take up can be better utilised on faster moving products.  Once you have identified your slow moving inventory, you have to put a plan in to action to reduce your slow moving merchandise quickly and efficiently.

Some of the simplest methods to reduce stock consist of ‘Special Offers’, where the pricing is reduced to try and turn over the stock as quickly as possible.  There are however a few other methods that you can try before you go this route.  How are the items marketed?

Continue reading Slow Moving Inventory: How to Deal with It (Part 2)

Slow Moving Inventory: How to Deal with It (Part 1)

slow moving inventory - liquidationOnce 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.

Continue reading Slow Moving Inventory: How to Deal with It (Part 1)