3 Inventory Management Solutions

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Sometimes, you can end up with more inventory than was expected through a mistake made during production. Other times, it may not have a negative impact on your bottom line. When you have more inventory than was initially intended, the logical step to take is to attempt to sell it for a minimum profit, or at least, break even. As you figure out what to do with Excess Inventory, you have a few options to explore.

Here are three inventory management solutions to consider when there is an excess.

Purchase Offer

The value of the inventory you have in excess depends on the potential demand for it. If your inventory is considered to be valuable, you may receive a straight purchase offer. This is a great solution that offers a win-win for all parties. As a best case scenario, a buyer will conduct an audit of the inventory. If everything is satisfactory, some buyers make an offer and are willing to pick up the materials from you, too. In this case, you do not have to worry about incurring shipping costs because the buyer takes care of it, too.

Marketing

Another option for your excess material is to find a marketing partner. In this scenario, another company finds your inventory valuable, but they are not able to purchase the materials. They do, however, believe that they can find a buyer. This inventory solution means that buyers will be procured, and when the sale is made, arrangements will be made for pick up.

Consignment

If you have excess product or materials but cannot store it at your facility, you can find a consignment partner that will store it and sell it. When it is sold, you receive your share of the proceeds.

Excess Inventory poses a potential issue with possible solutions.

For more information on reliable excess inventory in your area, contact the professionals or visit the website.

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