How to Effectively Manage Seasonal Inventory
August 11, 2022 by CRS Corporate Relocation SystemsCommercial Storage
Whether you are an online business or a brick-and-mortar location, seasonal periods most likely affect your business. Managing seasonal inventory can be challenging, but with the proper planning, it’s much easier. If you get ahead of the demand and gather data, you can better understand how to keep your inventory organized and ready for seasonal spikes.
If you are looking for a place to store your seasonal inventory, CRS Moving & Storage is a one-stop shop for all your storage needs. We handle every aspect of the process, including tracking and sorting inventory for you. Plus, our fireproof, climate-controlled, and secure facilities keep your inventory safe, dry and protected. We are here to help you better manage your seasonal inventory to maintain your business’s success.
Guide to Efficiently Managing Seasonal Inventory
Keeping up with seasonal demand can be complicated as products seem to fly off the shelves for a few weeks, and sales dip after the holiday. With the following tips, you can better manage your seasonal inventory.
Track Past Data to Plan Ahead
Demand forecasting can be one of the more difficult aspects of seasonal periods. However, you can educate your guesses on expected sales if you review historical data about your past seasonal performance and other factors that may affect your inventory during a seasonal period. Doing this will make you aware of potential supply chain issues or other problems that could impact your seasonal inventory.
At CRS, we take inventory of your items and provide you with real-time data, so you can make the best decisions for your business. With this information, you can predict what you will need to replenish and what you don’t need to purchase to avoid unnecessary costs.
Organize Your Inventory
Keeping your inventory organized is essential for seasonal sale spikes. You may want to separate your items into categories of seasonal demand. For example, items that attract demand only during seasonal periods can go in one category, and items that you sell all year but have spikes in sales during seasonal periods can go in another category. This way, you are not left with any residual stock that sits for the rest of the year.
Additionally, your company’s website should accurately reflect your inventory. This means that if an item is out of stock, customers should be able to see that on your website. Organizing your inventory will give you more control and make your website more accurate.
Understand Demand Timelines
In addition to keeping your seasonal inventory organized, you should also identify the length of seasonal periods. Depending on how long the seasonal period lasts, you may be able to order all products in advance, or you may have to replenish products throughout the season.
For example, certain products sell much more around Halloween, which is a short seasonal period. Therefore, you may be able to stock up all your inventory in advance. On the other hand, summer is a much longer season, so you might have to replenish summer inventory multiple times before it ends.
Identify Product Lead Times
Knowing the amount of time a product takes to make from start to finish will help you better manage your seasonal inventory. If an item has a longer lead time, you may need to purchase it further in advance. Products with shorter lead times may be more reliable for restocking your seasonal inventory as the season progresses. If your seasonal sales exceed your expectations, but a product has a long lead time, you might consider using a supplier with a shorter lead time to replenish the product quicker.
Streamline the Fulfillment Process
If you use our storage facilities, our services make the fulfillment process much smoother. Because we track your inventory, we can spot imperfect or defective items. This will save you time and make for happier customers. We also keep your inventory organized, so nothing gets lost. You can also easily access your items at our facilities. We allow 24/7 access to your inventory to accommodate your busy schedule. With easy access, inventory organization, and tracking, the fulfillment process is much more efficient.
Find the Perfect Storage for Your Seasonal Inventory at CRS Moving & Storage
Managing seasonal inventory can be tricky with all the planning involved. With the help of our reliable team, you can focus on growing your business while we organize and track your items. We give you the real-time data of what you have, so you can make the most practical and cost-effective decisions possible.
At CRS Moving & Storage, we are equipped with over 25 years of experience in the industry to help you control your seasonal inventory. We dedicate ourselves to keeping your items safe and secure while remaining easily accessible so you can get what you need at all times. If you are looking for storage for your seasonal inventory, fill out our contact form or call us at (718) 424-6000.