Does Your Supplier Have Your Inventory? Don’t Wait Until the Last Minute
Share on facebook
Facebook
Share on twitter
Twitter

Does Your Supplier Have Your Inventory? Don’t Wait Until the Last Minute

Preparing for the holiday shopping season in San Diego requires ensuring you have everything in order well in advance. If you are getting ready to open a seasonal business, you need to make sure to have your San Diego business tax certificate in order. Additionally, you need to make sure you will have plenty of products to sell your customers without running out.

To help you make sure your supplier has a sufficient inventory of the items you need, you will want to use the following tips.

Prepare a demand forecasting report.

Demand forecasting can be difficult if you just opened your business this year. Yet, it still needs to be done. Ideally, you want to use your past sales to help you estimate how many of each item you will need. If you do not have sufficient historical data, look at recent trends related to the products you sell.

Is there a high demand for an item you can’t seem to keep on the shelves? Has a new product come out that is cutting into the sales of other products? Your goal is to estimate what inventories of products you will need from your supplier to get through the holiday sales season.

Send your wish list (demand forecast) to your supplier now.

Your supplier also needs lead time to make sure their suppliers can fulfill their demands for various product inventories. If you wait until the last minute to notify your supplier, there can be issues with the supply chain and not getting what you need. If your supplier is a manufacturer, letting them know your estimates helps them adjust their production schedules to accommodate the inventories you will need.

Be prepared for product delays by stocking up on inventories of hot items now.

Each holiday season, there are hot items that fly off the shelves with backorders. To make sure you can meet demand from your customers, you will want to research what items could potentially be hot this holiday season and start stocking up now to avoid delays and backorder issues.

Take into account shipping times when submitting orders to your supplier.

When the holiday shopping season gets underway, shipping times can and do vary. Many suppliers attempt to meet demand with regular shipments. However, if there are shortages and backorders, this could affect shipping times. You also need to take into account potential weather-related delays.

Some suppliers will also offer expedited shipping or additional deliveries during the holiday shopping season to keep your shelves stocked. Talk to your supplier about any adjustments you need to make to regular shipping schedules.

Take into account shipping times when submitting orders to your supplier.

Review your supplier’s holiday shutdown schedules.

Your supplier will be closed on certain holidays like Thanksgiving Day, Christmas Day, and others. However, you may be open on some of these holidays and need to have sufficient inventories on hand to meet customer demand. Prepare for your supplier’s holiday shutdowns by adjusting ordering quantities and shipping schedules as needed.

By preparing and planning for the upcoming holiday shopping season now, you will be better able to ensure you have plenty of products in stock and available for your customers.

If you need help obtaining your San Diego business tax certificate to be able to sell products in San Diego, please feel free to contact FastFilings today!

Related Posts

California Tax-Exempt Products

One of the most important aspects of your business’s finances is calculating and filing for state taxes. So, it’s important to know exactly what you’re

Read More >