How do you deal with the slow moving goods on your business?

[Stardom22]

Some goods in the business are very slow moving such that if not care is not taken, the merchandise could expire or the goods being damaged for that matter.

 

[Fidelia]

You make sure that you only stock minimal inventory for such products so that they can finish before expiry.

 

[Augusta]

You can sell them at a more reduced price to push people to buy. At least you would still make profit no matter what.

 

[eLdavis]

In such a case I might stop selling these goods unless there is a high demand for them in the future.

 

[Xtynehappy]

The business managers could conduct a clearing of stocks campaigns by offering discounts and offers to boost the sales.

 

[magnus2022]

I only concentrate on goods and products that are moving fast. Once, i discovered that some products are not moving, i will sell them at a discount rate.

 

[King Belieal]

In such a case I might stop selling these goods unless there is a high demand for them in the future.

If there are some customers that always buy those particular goods, you only stock for those customers or you tell them to be placing order in advance, like one week advance, so you stock for them. It is better than stocking them and you can't sell them.

 

[itsmejob]

If that happens, I will promote discount on the slow moving items. Check if that works - then proceed with adding more. But if that strategy will not work, I will stop restocking but instead change my inventory.

 

[Augusta]

The business managers could conduct a clearing of stocks campaigns by offering discounts and offers to boost the sales.

Yesh it would not be a bad idea to make the price lesser to pump morr patronages. People loves goods with discount

 

[Starmix]

As much as possible, sell them at a low price before they become unuseful. It is better that way than losing everything in split seconds.