How do you handle a situation where you have 2 different orders for a single stock.

King Belieal

Discussion Guru
Bronze Supporter
Literary Virtuoso
Registered Member
Joined
Oct 1, 2023
Messages
5,468
Reaction score
302
Trophy Points
5
Location
Nigeria
D Bucks
💵0.031705
Referral Credit
0
As entrepreneurs, we are always wishing for excess demand for our products.

As a business person selling products, what would you do in a situation where two good customers place an order for the last stock in your inventory. Which customer would you sell to and which one would miss out?

What would be your criteria to determine which of the customers to sell to?
 
In this kind of condition, i supply one and inform the other customer that the stock is no more available. If the customer cannot wait, i will refund immediately. Straightforwardness is a virtue in business.
I believe that business people should try to be straightforward too. For me, I would sell to the first person that placed the order. The second person would just be explained to that his or her order came in very late.
 
I feel this situation is quit easy, I would sell to the one pays first. Because a customer asked for a product does not mean they would buy it. I have seen cases where there is limited product and a customer would tell you to keep it for them, only for them to not buy it in the end and you have been rejecting other potential buyers. Whoever pays first is the one who needs the product the most.
 
This type of situation I faced in my last company. While I was working in Mineral Asia as a Sales Manager several times I received two orders for similar product, which was Talcum powder. I chose the right customer without any un ethical favor. I given supply to that customer who given order first.
 
In a situation with two different orders for a single stock, as a broker or trading platform I will follow a "first in, first out" approach, executing the orders based on the chronological order they were placed.
 
19,184Threads
138,125Messages
452Members
Top