Unwanted Stock – What Is It?
There is a vast amount of unwanted stock in the marketplace. Taking up valuable warehouse space and personal storage space costing millions of dollars in storage fees each year.
This due to over ordering, careless stock management or trend changes.
Obviously, this poses a serious threat to your company’s bottom line and is also detrimental to the effectiveness of your incoming stock and storage space. With having unwanted stock take up valuable storage space.
If you find yourself with unwanted stock:
The first thing you need to do is weigh up whether waiting out for the price you are looking for is worth the cost of storage fees and ineffective utilization of your storage space that you could be using for better selling product lines.
The next step you should do is offer your stock to existing clients at a discounted rate to free up your storage space. However, do not let anyone purchase small quantities of your stock, commonly known as (Cherry Picking). As this will devalue the bulk sale of your unwanted stock to any bulk buyer.