You're facing high demand during peak sales. How do you decide what inventory to restock first?

1 Sales Data

Analyzing your sales data is the first step in making informed restocking decisions. Look at historical sales figures to identify which items sold the most during similar peak periods. This gives you a clear picture of customer preferences and helps you forecast demand. Consider not only the quantity of items sold but also the rate at which they sell out. High-velocity items, which are products that sell quickly, should be at the top of your restocking list to avoid missed sales opportunities due to stockouts.

2 Customer Feedback

Listening to your customers provides valuable insights that sales data alone might not reveal. Pay attention to customer inquiries about products that are out of stock or requests for items they hope to see in your store. This feedback can guide you in prioritizing inventory that may not be the top seller but has a dedicated customer base. By ensuring these products are available, you foster customer loyalty and satisfaction, which is essential during peak sales times.

3 Profit Margins

While it's important to keep bestsellers in stock, you also need to consider the profitability of each item. Prioritize restocking items with higher profit margins , as these contribute more to your bottom line. It's a strategic move that can help maximize your earnings during peak sales periods. However, balance this by maintaining a diverse range of products to meet different customer needs and preferences.

4 Supplier Reliability

The reliability of your suppliers is crucial when deciding what to restock first. Prioritize items from suppliers with a proven track record of timely and consistent deliveries. This ensures that you can replenish your inventory quickly and meet customer demand without delay. Building strong relationships with reliable suppliers can give you a competitive edge, especially when supply chains are strained during peak sales.

5 Storage Constraints

Consider your storage space when deciding which items to restock. Larger or perishable items that require special storage conditions should be managed carefully to avoid overstocking and potential waste. Optimize your storage by prioritizing items that turn over quickly and require less space. This not only helps in managing your inventory efficiently but also reduces holding costs, contributing to better overall profitability.