For those who own big warehouses, it is very likely that many usually find it both difficult and overwhelming to manage all their stock. Sometimes, a person may find themselves with inadequate stock and risk losing customers to their competitors when they exhaust all their merchandise. Other times a person may have excess stock and risk some becoming a dead stock in case they are unable to sell their entire merchandise. There are a few things people can do to properly manage their deadstock suppliers, among them are the following.
Go Through the Previous Sales History
More often than not, this technique normally works where a dead stock seems common with specific goods. Therefore, checking the previous order numbers could help bring a difference in the way a person handles their future purchases. At least a person would know what level not go beyond, and what level of excess stock they should keep as a backup. A person would also stop purchasing certain goods when they realize that such items usually end up becoming a dead stock every time.
Confront Suppliers
First of all, establishing a good healthy rapport with suppliers is important in many ways. If a person finds that some of their goods have not moved for a long time, they can ask whether they can return that particular merchandise in exchange for something almost similar. Also the location might not be favorable for such items, so the goods might end up being supplied to other different places where they may have a high demand. It is also very likely that a person would probably get a refund should their supplier choose to move forward with the above deal.
Run a Clearance Sale
This method may not be viable for everyone, as it involves selling the merchandise at a significant discount. Sometimes, a person can even sell them at a much lower price than what they bought them for. Also, in the most extreme cases, a person may consider giving them for free if a customer purchases something in the store.
Final Thoughts
It is not good for a person to worry about their goods becoming a dead stock after they fail to sell all their merchandise. There are a few things people can try to effectively handle their deadstock suppliers. However, each method may be suitable for different goods than others and a person’s location is also another big factor. In other words, handling such large stock requires a person to be quite knowledgeable and be ready to cover all expenses for everything to go smoothly.
