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Follow on Google News | Cashing Out at the End of the Season-Tips on How to Move InventoryITS Logistics shares some solution ideas for any leftover inventory at the end of season.
No one wants to have leftovers at the end of the season, but it’s a reality. Unwanted inventory wastes cash by taking space from moneymakers, and distracting your focus from the newest in-season items. Not to mention the opportunity costs of redirecting your invested capital, taxes and insurance, as well as the labor to maintain the inventory, amounts to a sizable expense. ITS Logistics’ expert Kasia Wenker shares some tips on how to make a smooth transition into a new season: •Move to international markets – If it’s not a popular item in your national market, it might be elsewhere. Shifting the target market allows you the chance to sell a product that might not have reached its full potential within its intended demographic. Countries on the other side of the globe, where the weather is opposite, are the perfect focus for an old seasonal product. A third party logistics (3PL) company can help you make that transition easily, and without much investment. If you utilize a 3PL to place the inventory overseas, you eliminate the need to staff an additional market. •Donate – Make sure you’re realistic - don’t sit on product that you can’t sell. Leverage it in another way. Donations can boost a company’s reputation, and provide good PR opportunities. Find a way to make the donation tax deductible, so you turn a loss into a way to offset your income. •Recycle – Go green. Break down the product and use the pieces for another item, or recycle it for the good of the planet. •Destroy – If none of the above recommendations apply, destroy the product. It will be more costly if it is taking up valuable warehouse space, than if it disappears permanently. Wondering how you figure out which is the best solution for you? A 3PL like ITS Logistics (www.thesportsrunner.com) Links: ITS Logistics: http://www.thesportsrunner.com About ITS Logistics: Based in Reno, NV, ITS Logistics is a warehousing, distribution and fulfillment company that helps companies distribute goods nationally and globally with superior performance. Please visit http://www.thesportsrunner.com for more information or a free consultation. End
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