Tips to manage surplus stock and our Local Business Spotlight
During unpredictable times, it can be difficult to determine how much stock to order for your business. On the one hand, you don’t want to buy too much and waste money. On the other, you don’t want to leave your customers disappointed or pause your business operations because you don’t have the necessary materials.
Here are a few tips on what to do with excess inventory and surplus stock.
- Ask for a refund or credit with your supplier
- Trade with industry partners
- Run a discount marketing campaign and sell to your customers
- Donate the excess as part of your charity efforts
- Store the stock safely for another opportunity
Do you have any suggestions to add?
This week, we profiled three local businesses that deal with stock and inventory on a daily basis.
On Monday we featured LightTec, a company which is not your average lighting and electrical maintenance business. Their razor-sharp focus and personal approach with customers helped them to become a finalist in the Nedbank Business Ignite and be selected to be interviewed on Cape Talk.
Their vision is to contribute positively to the upliftment of young people by creating employment opportunities in the business. Find out more about LighTec on their website.
Have you ever struggled to find the perfect outfit for an upcoming event? Wednesday’s Local Business Spotlight shone the light on Sauvemaxia, a local clothing brand that prides itself on producing fashion for all seasons, any event and for the whole family.
From comfy gold jumpers and satin sleepwear, to custom dresses and gorgeous work-from-home outfits, Sauvemaxia sells them all. Browse their Instagram page and Facebook page to see more of what the local brand offers.
Maxie & Moo
When Candice, a South African mother to a newborn baby named Max, stumbled across the problem of not finding a practical baby mat, she decided to source her own. The result of her efforts is Friday’s Local Business Spotlight - Maxie & Moo!
Inspired by Maxie the monkey and Moo the cow, the high-quality baby mats are stylish, safe, waterproof and packed with potential for fun! See these beautiful baby playmats in action on their Instagram page and website.
Are you looking for a safe and secure space to store your business stock? Our Stor-Age business storage solutions are clean and secure, offered in a variety of units and rented with flexible lease agreements Call us at 0861 18 18 18 to find out more about how our helpful team can help you. You can also get a quick and easy quote online.