overstock

How to Manage Overstock?

Effective management of overstock is crucial for maintaining business health. Some strategies include:
Improving demand forecasting: Utilize data analytics and market research to better predict demand.
Dynamic pricing strategies: Adjust prices to encourage sales of excess stock.
Promotional campaigns: Use discounts, bundle deals, and promotions to move excess inventory.
Inventory management software: Implement systems to monitor stock levels in real-time and optimize orders.
Supplier relationships: Negotiate better terms with suppliers, including return policies and flexible order quantities.

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