Running a business is about closing deals, completing order and delivering the materials in order to earn profits, though an inevitable part of business is also dealing with the excess inventory. This overstock may result from a number of heads such as closeouts, changes in packaging, cancellation of orders, liquidations, bankruptcies and other unforeseeable aspects. While excess inventory creates a burden on the business owner, it also comprises of cost of storage and runs the risk of decrease in the original value of the merchandise. Moreover, the risk of the stock lot becoming outdated is always there.
However, not all is as gloomy as it sounds. There are some outstanding yet simple ways of getting rid of the excess stock, especially surplus textile. Take a look.
Put Up The Stock For Sale To An Inventory Liquidator
For any merchandise that is piling up in the warehouse, an ideal option is to get in touch with professional inventory liquidators. The liquidators easily purchase such inventory and sell it in parts, usually at a discounted rate. Though it is a seemingly attractive way, do not forget to consider the following points
· In lieu of making a profitable deal, your brand name shouldn’t be compromised.
· Your current sales channel and supply chains should not be put into jeopardy.
· There may be additional costs involved in delivering the stock to the buyer.
Sell The Stock Online
While e-commerce, specifically with respect to textile industry may not be the most popular sales channel, it is however making a steady progress in India. While Quickr and E-bay are apt for selling single items, Stock lot suppliers with larger quantities can easily get in touch with portals like www.textilestock.com and sell off their excess inventory to third parties.
Sell Off The Merchandise In Form Of Bundles
In line with bulk orders and purchases, a seller can conveniently bundle up numerous products and/or services and put them up for sale at an overall discount. Mostly, buyers view this kind of a deal as greater value for their money and hence readily pick these up. Moreover, such a deal helps to sell of the better part of the stock in one go.
Give It Away as Reference GiftWhile you can always clear your stock by gifting it to dealers in exchange for references, this can act as a great channel to bring in new clients. Although, this may not help in getting instant cash benefits, but will surely help boost the business in the longer run.
Use it as quality samplesAgain, not a sure shot way of earning liquid money, but again, using supplier’s stock surplus of textile fabrics as quality samples for new clients can take the process of closing a deal to a whole new level.
Article originally posted on: Article Base