You walk through the warehouse and realize there’s excess inventory and supplies that have been hidden away for years. Maybe these are products that aren’t selling or you forgot about them, or perhaps you received a large order from a customer, but they ended up canceling the order. Now you’re stuck with 500 units because the supplier is overseas and they charge big bucks for restocking fees.
Then there’s the old furniture and supplies that you had intended to sell on Craigslist, but just never got around to it…
Either way, your warehouse is cluttered and everything is gathering dust.
Get Inventory Under Control
First off, if you consistently have issues with excess inventory, maybe it’s time to dig a little deeper. Come up with a system that could easily identify shelf life of each product, customer trends, and pinpoint products that are slow moving. Offer these items in a bulk clearance sale.
There’s definitely more that can be done to get inventory under control and this article over at Industrial Supply offers some very helpful tips.
Have a Plan Before Buying New Furniture and Equipment
We’ve seen it time and again – a business owner is excited about redesigning their office that they just throw the old furniture and equipment in storage thinking, We’ll deal with it later. Then some time in the future they have to move or downsize and they’re left with stuff everywhere and feeling overwhelmed about what to do with it all.
Before you even start purchasing new furniture and equipment, create a plan for what you want to do with all the old stuff. Getting rid of excess inventory, furniture, and equipment is a detailed process. Having a plan will keep you on track and organized.
Just like you keep inventory of the products you sell, it’s equally important to keep inventory of the furniture and equipment you have. Which items are valuable and which ones are actually garbage? Decide on the amount you would like to recoup for all this inventory.
Another point to consider is your budget for removal and disposal of all the furniture, fixtures, and equipment. How much time will it take and how much are you willing to spend?
Why Not Have an Online Auction?
Of course we’re biased, but we think the easiest way to get rid of surplus inventory and furniture is through an online auction. The benefits of holding an auction include:
* Save you time, hassle, and headache. After an auction, everything goes away in one day and we take care of all the details.
* Items are marketed to a worldwide audience, so you’re not limited to local buyers.
* Potential to make more money because more buyers will view the auction.
Are you a business in the Southern California area that needs to get rid of excess inventory and equipment? Contact us today to see how we can help!