Making Slow Moving Inventory Move

Inventory that is slow in moving, has stopped moving, and has not moved for a long time is an issue businessmen engaged in wholesale sunglasses and other items would love to avoid for the rest of their business’ existence. After all, their items are in bulk, so wholesale items that don’t move leave them with a lot of stock in storage and less income. But that doesn’t mean having slow moving inventory should be left gathering dust or just be written off as loss. They can actually be turned into profits and can also be used to make customers feel appreciated.

Image source: Advantage Biz

Slow moving inventory, for clarification, depends on the product being sold, refers to items that haven’t moved for 90 to 180 days. While a lot of businessmen let these items sit and hope that they would be useful in the future, using this practice will only lead to them incurring extra expenses, not only because they are not being sold, but they also  occupy space in the business’ storage space or warehouse, space which could have been occupied by better selling products.

One of the things businessmen can do is look into the data they have. Looking into sales of their products may allow them to see if they are similar products that are selling like hotcakes and inform customers that they have something alike they can buy for less because they are a few months old.

For example, someone buying wholesale sunglasses in aviator design may be interested in an inventory of aviators that are more affordable because they are six months old, and thus, a bit out of style already. 

Customer loyalty can also be enforced with slow moving stock. For example, small items can be included in orders as free stuff with a note thanking the customer for his or her business. This makes the customer feel special, bringing good faith between the two parties.

For inventory that still counts in thousands, outlet stores are a solution, as these branches are expected to offer products at a lower price. Wholesale items can also be retailed at existing businesses like off-price retailers and dollar stores, as this will surely help in moving, and even selling out these products.