A guide to managing seasonal stock
- Manage your storage space as a delivery hub and hire additional to help manage stock flow during busy periods
- Think two or three seasons ahead to ensure every eventuality is covered and utilise the flexibility of self-storage
- Bulk purchases may come at a discount and can then be housed in self-storage
Shahid Kadodia, digital & marketing director at Safestore is on a mission to help businesses understand the benefits of self-storage in relation to stock levels.
As a business owner storage issues might be an ongoing concern, for example, if you have limited office space, and/ or if your business is exposed to fluctuations of demand throughout the year. There are a number of ways self storage can help you satisfy customer demand and grow your business efficiently.
SMEs can manage their storage space as a delivery hub; supplier deliveries can be sent directly to the self storage facility and customer orders dispatched from there. This ensures core office space remains focused on the day to day running of the business. Business owners can also hire additional support to unload and load deliveries at peak periods to ensure the stock flow is managed accordingly.
Deliveries can then be categorised in terms of seasons, trends, products or however suits the business. This will in turn allow for a smooth product dispatch process.
Accumulating seasonal stock requires space, and provides peace of mind for impending or unexpected orders. Thinking two or three seasons ahead, using your self storage to accumulate relevant stock will ensure every eventuality is covered.
If you’re a business that is led by seasons, then using self storage to store last season’s wares is a great way to release space for current season stock. Employees can retrieve goods in advance of seasonal transitions so the business can be ready for customer orders. One key benefit of self storage is flexibility; businesses can scale up capacity for particular periods by adding additional units and then revert to steady state once the peak period is over.
Depending on the nature of your business, bulk purchases may allow you to benefit from large discounts from suppliers. Using self storage for mass purchases will release you from the urgency to buy to meet an order demand, and in turn reduce unexpected or escalating bills. Additionally, using self storage for bulk purchases will help manage any potential stock shortages or backlogs.
It seems each year festivities such as Christmas, Halloween and Easter come earlier and earlier in the retail world. Planning ahead is essential and will ensure you can meet deadlines and demands. No business wants to decline a potential order that could bring in a large payment.
Self storage is an ideal means to ensure stock for annual celebrations and parties is organised well in advance and ready to meet the constant increasing demand.
Satisfying demand trends
As a business owner, it is vital you plan for the future and examining sale successes and failures is something every business owner should be doing. Using your storage unit to be well-stocked on the most popular items ensures that your business will never miss out on sales; and customers won’t have to be turned away, or worse of all, buy elsewhere.
Business owners should also analyse sales performance of individual product lines, and ensure stocks of “trending” products are in place to meet potential demand.
Black Friday and Cyber Monday
Three years ago, these words meant nothing to the UK market, and now every business seems to be involved in one of the largest retail times of the year.
Following our friends from across the pond, businesses are relentless in marketing these sales in the weeks leading up and managements need to plan stock accordingly to ensure they can meet demand. Using self storage in the months before Black Friday and Cyber Monday, and assessing what was popular last year will means as a business you are able to cope and succeed in one of the busiest retail times of year.