Keeping Stock of Stock

Last but not least from our new DIY Guide to Order Fulfilment – Top Ten Tips.

top ten tips no 10No. 10: 

It is crucial that you always know exactly how many of each item you have available for sale.  Whether you create a sophisticated spread sheet or a sheet of A4 paper with a list of your products and quantity, controlling your stock levels is very important. It’s no good having 300 units of a slow selling item and only 15 of your fastest seller – this goes back to Tip1.

You’ll need to learn from your orders and adjust your online ordering systems in order to balance your stock levels against your sales levels. Otherwise, you’ll have money tied up needlessly in slow moving stock when it should be invested in your most popular lines.  And finally, if you have slow movers, discount!  Get rid of them! Stock takes up space and space costs money or at least has a limit. Finally:

  • Fill your space with products that sell quickly and make you money
  • Employ high standards of quality and delivery to increase repeat business.

Need more help? Why not check out: ‘Don’t do it yourself. The third party or outsourced order fulfilment approach‘ – a bit more about how companies like DMC can take the load of fulfilment, literally.

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