You're dealing with excess inventory and rising storage costs. How can you safeguard your export margins?
When dealing with surplus stock and increasing storage fees, safeguarding your export margins requires strategic planning and efficient execution. Consider these actionable steps:
How do you handle excess inventory and storage costs in your business? Share your strategies.
You're dealing with excess inventory and rising storage costs. How can you safeguard your export margins?
When dealing with surplus stock and increasing storage fees, safeguarding your export margins requires strategic planning and efficient execution. Consider these actionable steps:
How do you handle excess inventory and storage costs in your business? Share your strategies.
-
To manage excess inventory and storage costs, we use demand forecasting to optimize stock levels, implement just-in-time inventory practices, and negotiate flexible storage solutions. We also offer discounts, bundle products, or explore new markets to clear surplus stock. Regular audits help identify slow-moving items early, allowing timely action to minimize holding costs.
-
To manage excess inventory and storage costs, we use demand forecasting to optimize stock levels, implement just-in-time inventory practices, and negotiate flexible storage solutions. We also offer discounts, bundle products, or explore new markets to clear surplus stock. Regular audits help identify slow-moving items early, allowing timely action to minimize holding costs.
-
To manage excess inventory and storage costs, we use demand forecasting to optimize stock levels, implement just-in-time inventory practices, and negotiate flexible storage solutions. We also offer discounts, bundle products, or explore new markets to clear surplus stock. Regular audits help identify slow-moving items early, allowing timely action to minimize holding costs.
-
Reduce Inventory Holding Costs Negotiate Lower Storage Fees: Discuss revised terms with your warehouse provider or consider third-party logistics (3PL) services with competitive rates. Use Just-in-Time (JIT) Inventory: Reduce stock levels and only store what you need for immediate fulfillment. Sell Excess Stock Quickly: Offer discounts, bundle deals, or bulk sales to offload excess inventory.
-
1. Sharpen your forecasting model leveraging qualitative and quantitative data. 2. Negotiate improved terms with vendors to push out orders within an agreed upon window of time. 3. Negotiate vendor consignment for raw materials. 4. Renegotiate storage terms and find alternative warehouse options. If cost control is an issue, it may be time to consider owning and staffing your own warehouse facility. 5. If B2B, work a deal with your most strategic customers that financially makes sense for them and your business. If B2C, consider discount/bundle strategies.