You can avoid losing out during seasonal events if you manage your stock efficiently.

Ah, Valentine’s Day – the most romantic time of the year. But if you want to feel a warm glow instead of the chill of disappointment, make sure that you’re on top of your stock control. Efficient stock management is crucial to ensure that Valentine’s Day, or any other seasonal event, goes with a bang for your wholesale business and that the tills keep ringing for you and your customers. Of course, the best way to do that is to implement an IT system to strengthen your operations.

Effective stock rotation 

This is crucial to the success of your wholesale business. With an IT system that lets you chart out exactly what you need and when you need it, you can eliminate the need for guesswork when it comes to stock management. You’ll never forget those short-dated products that customers always buy at the last minute, avoiding unnecessary wastage. You’ll know exactly what is in your warehouse at all times and can access this information at the push of a button.

Avoid customer disappointment

Retailers are planning earlier for Valentine’s Day and all other seasonal events – Easter, Halloween, Christmas . . . So you need to be on top of your game in terms of stock management. Booker recently posted a massive 19.3% sales increase for 12 weeks to 13 September 2013 compared to the same period the previous year, and attributed this to being able to keep up with the summer demands. A suitable IT stock management system can create reports which identify low stock items. In today’s retail climate, customers are ordering up to three months in advance to ensure they don’t miss out. Stock reports can also tell you what you have a lot of, giving you the opportunity to upsell. With the right software, come Valentine’s Day or Easter you will be adequately prepared, meaning that your customers aren’t losing out on stock and sales – and more importantly, neither are you.

Make the best use of the space available

The space you have at your business is limited, so it’s vital that you make the most of it to ensure that every square inch is profitable for you. By implementing an efficient stock management IT system, you can cut down on the lines that don’t sell as well in the summer or winter and use that extra space to stock more of the ones that do. Your customers wouldn’t waste space on their shelves, so why should you? With the right software, you can organise for those lines that won’t sell all year round to be delivered at the optimum time, so your shelves are always stocked with the products that will make the most money for your wholesale business.

To do list:

• When was the last time you re-evaluated your floorplan? Rearranging the layout of your warehouse could help you use your space more efficiently. You will also save on purchase or rent by not expanding into bigger premises unnecessarily.
• Reassess the product locations in your warehouse. Organising your goods into the optimal picking location for each can be a big time-saver.
• Once your warehouse layout and stock location has been optimised, consider implementing a stock management system which is aligned to the needs and goals of your business. The right software can increase efficiency, ease your operational headaches, and give your company the edge over your competitors.

To find out more about how the right software can boost your business, download our free eGuide: Don’t put it off! 5 reasons why you should invest in a wholesale-specific software solution