Solving excess inventory problems effectively with automated solutions

The two most significant and?strategic issues?that retailers across segments face today revolve around?predicting shopper interests?in a particular product and?forecasting supply chain disruptions?in an interconnected world.?

Both of these issues manifest as an?excess inventory problem. This problem is born because businesses want to err on the side of caution by having excess inventory to meet customer demands and circumvent fluctuating global markets.?

Getting rid of this inventory post-sale period takes time and effort, involving multiple people, spreadsheets, and back-and-forth communication.?

The need of the hour is an?intelligent excess inventory solution that can automate most of the workload. This is exactly what Vue.ai’s excess inventory management tool, INTURN, does. It gives brands a?comprehensive view of their inventory and allows them to sell it off-price to specific retailers, maximizing recovery while minimizing operational costs.

INTURN: Vue.ai's smart excess inventory management solution

INTURN offers businesses key features that help them make the most out of the tool. It is designed to remove pain points in the negotiation process of selling excess inventory.??

Vue.ai’s excess inventory management solution, INTURN, can?

• automatically organize excess inventory from spreadsheets.
• create individualized offers - assigning products & units with specific price points for each, setting negotiation conditions.
• help compare wholesale, retail, and offer prices.?
• provide a single space to negotiate and chat.?
• automatically remove products in allocated and accepted offers to avoid over-selling.

How does it work???

Managing excess inventory using this tool can be broken down into three main steps:

1. Upload and organize inventory:?Retailers upload all spreadsheets with excess inventory data into the INTURN dashboard, automatically centralizing this into a comprehensive database.

2. Curate offers for select buyers:?The dashboard makes it easier to curate inventory assortments and strategically price discounted offers for specific buyers. Buyers’ negotiation level and setting deadlines for each offer can also be controlled.

3. Negotiate and finalize offers:?Buyers can log into the dashboard easily to view the offer request. Prices, sizes, and quantities can all be easily negotiated in the dashboard.

Read more?here to understand how Vue.ai's #ExcessInventory management solution works and the additional features on the dashboard that makes the excess inventory problem much easier to handle.

Better supply chain?visibility with Vue.ai?

As a leader in supply chain visibility, Vue.ai offers solutions that empower teams to proactively optimize existing overstock to maximize recovery. We’ve partnered with leading brands across industries worldwide, each with its own set of unique challenges to solve.?