It very well known to every industrial distributor that Surplus Inventory exists. It may be because of several obvious reasons like strong competitors, lack of customers over production or lack of distributors!
Finding a right customer to buy your excess stock is kind of competitive job as this is something you were unable to sell previously! When it comes to sell your surplus inventories, there are three potential options you should look for-
€ Your Current Customers
€ Other Businesses
€ Liquidators
Looking back at your current customers as potential buyers is not a bad idea.
Customers:
There may be other reasons for your failure or lack of success previously than lack of the quality in you product! The reasons like lack of correct marketing, potential advertising, appropriate pricing etc and are worth rethinking about. One thing for sure, when giving it a second try, you need to consider compromising on prices.
People often go for the special offers and discounts and you will be surprised with the results you may see when selling your excess stocks this way! It will also be helpful in many ways to hire an experienced and creative advertiser or an advertising firm to handle you current marketing plan.
Other Businesses:
Selling to other businesses is another option. The only way other business owners will be willing to buy your current stock is in bulk. So you may need to be ready for the price negotiations. Contact the business owners and offer them your stocks at attractive discount prices if you need to sell your inventories quickly.
Liquidators:
If nothing works for you at the end, think of taking a help of liquidators. There are many liquidation businesses that help other business owners sell their inventory surplus. Majority of liquidators buy the excess stocks at lower prices and try to sell it themselves at reasonable costs that will profit them. How this deal will work for you completely depends on whether they have customers interested in your products. No one would want to invest into a slow moving product and get stuck either.
So obviously the liquidators will offer you the lowest price to guarantee the minimum profit to them as they are risking their own investment.
The best part-Avoid It!
This is the best part of the business, avoid overstocks! Though it is the need of the business to keep up to the market needs and keep producing the stuff, it is always a smart decision to have a special team working on the performance of your current products, exact needs of the potential customer and competitor study. This way you will always have the benefit of not overstocking if your performance goes down and can come back with the solution later.
However, once gone wrong, you will have to consider any of the options discussed above to sell your inventory surplus and make the most you can out of it rather than going into losses. As I said, researching your past, present and future pros and cons will always help you avoid this problem!
Finding a right customer to buy your excess stock is kind of competitive job as this is something you were unable to sell previously! When it comes to sell your surplus inventories, there are three potential options you should look for-
€ Your Current Customers
€ Other Businesses
€ Liquidators
Looking back at your current customers as potential buyers is not a bad idea.
Customers:
There may be other reasons for your failure or lack of success previously than lack of the quality in you product! The reasons like lack of correct marketing, potential advertising, appropriate pricing etc and are worth rethinking about. One thing for sure, when giving it a second try, you need to consider compromising on prices.
People often go for the special offers and discounts and you will be surprised with the results you may see when selling your excess stocks this way! It will also be helpful in many ways to hire an experienced and creative advertiser or an advertising firm to handle you current marketing plan.
Other Businesses:
Selling to other businesses is another option. The only way other business owners will be willing to buy your current stock is in bulk. So you may need to be ready for the price negotiations. Contact the business owners and offer them your stocks at attractive discount prices if you need to sell your inventories quickly.
Liquidators:
If nothing works for you at the end, think of taking a help of liquidators. There are many liquidation businesses that help other business owners sell their inventory surplus. Majority of liquidators buy the excess stocks at lower prices and try to sell it themselves at reasonable costs that will profit them. How this deal will work for you completely depends on whether they have customers interested in your products. No one would want to invest into a slow moving product and get stuck either.
So obviously the liquidators will offer you the lowest price to guarantee the minimum profit to them as they are risking their own investment.
The best part-Avoid It!
This is the best part of the business, avoid overstocks! Though it is the need of the business to keep up to the market needs and keep producing the stuff, it is always a smart decision to have a special team working on the performance of your current products, exact needs of the potential customer and competitor study. This way you will always have the benefit of not overstocking if your performance goes down and can come back with the solution later.
However, once gone wrong, you will have to consider any of the options discussed above to sell your inventory surplus and make the most you can out of it rather than going into losses. As I said, researching your past, present and future pros and cons will always help you avoid this problem!