With the rising use of e-commerce and digital shopping, companies are having to adapt their inventory management to a new age. The transition to e-commerce means changing how you think about keeping up with demand. Many businesses are struggling to balance incoming orders vs outgoing sales, especially with rapid changes in demand. With all of that in mind, check out our McAllen logistics experts’ 5 tips for keeping your inventory management costs low.
① Removing Deadstock
Have you ever been suckered into buying too much from a vendor because it was a good deal at the time? Or has one of your products not been selling the way you had hoped? It happens to everyone at some point in their business career, but succeeding in business can mean knowing when to move on from an unprofitable idea.
So, if you have deadstock sitting around gathering dust, it’s time to get rid of it! Offering bundle sales or returning or donating your deadstock can help you save on storage fees that could be redirected towards better marketing tactics and newer products.
② Software Upgrades
There are endless software tools available for businesses to use to manage the flow of inventory in and out of their departments. Gone are the days when you needed a complex spreadsheet to control your inventory.
There are tools available that can help even the smallest of companies automate their inventory levels to avoid overstocking and understocking. This software can also help you centralize your supply chain, maximizing efficiency and effectiveness!
③ Decrease Supplier Lead Time
If you have a supplier that takes longer than you feel is reasonable to fill an order, it may be time to consider a new supplier to help you save money and improve customer service. Changing suppliers can be difficult, but slower suppliers could be costing more than you think! A few more days on delivery could make the difference between you and a life-long customer.
④ Working With a McAllen Logistics Company
Working with a logistics company can dramatically cut your transportation costs, while also freeing up management time so that you can get back to the heart of your business. A great logistics company can help you handle the peaks and valleys in demand and help take the frustrating balancing act out of your day-to-day concerns.
Lean Cargo Transportation Is Your Key To Smoother Inventory Management
You’ve worked hard to take your business to where it is today. Let us help you take it to the next level by improving all aspects of transportation for your business, whether that means cutting your delivery time or helping you maintain a consistent inventory. Lean Cargo Transportation’s logistics experts are ready to answer your questions, give you a quote, or tell you more about how we can help you!