The holidays are inching ever closer, with Christmas fare occupying an increasingly big percentage of space in shops. That means Black Friday is right around the corner, and small businesses that don’t have a solid holiday inventory management strategy could find themselves in a world of trouble. Here is a look at how proper inventory management can help operations run smoothly during the holiday season.
Organizing Your Warehouse
You know that business is about to pick up dramatically, and if your employees are already tripping over each other, or constantly bumping into stacks of products, the problem is only about to get worse. Now is the time to make sure you have designated areas for particular products and different warehouse functions so everyone can focus on the job at hand when the orders start flowing in.
Having the right inventory on hand isn’t the only thing you need to get right at this time of year; you also need to ensure you can pick, pack and ship all those holiday orders in the most efficient way possible. It’s time to hire some extra help to handle the rush of orders that is about to set in. You should also make sure everyone fully understands the procedures you use so you don’t waste valuable time during the holiday madness.
Keeping the Right Stock
Every business has its share of items that are hard to keep in stock during peak buying times. You’ve probably already thought of ensuring you have extras on hand, but have you done the research to figure out exactly how much you need? Holiday inventory can be tricky, but running out of stock leads to unfulfilled orders, disappointed customers, and ultimately lost business. The last thing you want is for your loyal customers to start being vocal online about their dissatisfaction with your company. Inspect your stock levels and consider using automated inventory management systems to get real-time, accurate reports quickly and easily. It’s an investment that can pay off year after year.
By ensuring good holiday inventory management practices and setting up sound return policies, you can make this festive season one to celebrate rather than fear. Happy holidays!