How to Identify Surplus Stock and Sell Excess Inventory Online

1. How to Identify Surplus Stock and Sell Excess Inventory Online? There is one problem that almost all businesses face when it comes to dealing with the stock of the business. If you are a business dealing in some kind of product, then you must have come across excess inventory in your warehouse lying around. This problem is one of the reasons behind increased costs and loss to the business. The Inventory Liquidation Sale is a problem to a business that could result in minimising the profits of the firm indirectly. There are various ways to deal with the problem of excess inventory online. With the use of technology and e-commerce in almost everything, we now have solutions for the surplus inventory of your business. Selling excess inventory online has become a possibility for all businesses whether small or large organisations. These solutions have helped many businesses in dealing with their overstock effectively. There is a myth around overstock that you can’t sell the surplus good at a profit. This myth has been busted by service providers that let you sell excess inventory online. Now you can not only sell your surplus inventory with ease but you can

2. even earn profit through it. We will find that out later but first, let’s answer some questions about the excess inventory. What is considered surplus inventory for a business and how to identify it? Here are some simple steps to follow to identify the excess inventory of your business. How to Identify excess inventory? There are different ways to identify the excess inventory for your business. It also depends on the kind of product that you are dealing with but for products with a long shelf life, there are some easy questions that you can ask yourself and then apply certain formula that would help you in figuring out the surplus stock of your business. In order to sell excess inventory online, we need to find the surplus inventory of our business. You can do that by following these steps: 1.Products lying for more than a year: To find out the excess inventory in your warehouse, you first need to look at the SKUs of your business. Out of these SKUs list down the products that have been lying around your warehouse for more than a year. These products are the first category of overstock for your business. Products that are unsold for more than a year could be counted as surplus inventory and must be listed for the stock to be sold as excess inventory online. Some businesses hold on to such inventory in the hope that they will be sold at their original prices somewhere in the future. This is a delusion and you should get rid of such inventory as soon as possible. 2. Running too many discounts: Have you found yourself in a situation where you have to run a discount every month or sometimes twice a month to get rid of certain stock in your warehouse? If you are in such a situation then chances are that you have the problem of overstock. Certain businesses run too many discounts every month without realising that they are facing the problem of excess inventory. Most businesses are not able to

3. sell this overstock despite running huge discounts because they are not targeting the right market for their products. By selling excess inventory sales online to the right customers, this problem can be solved. There are various solutions for excess inventory Liquidation Com India. 3. Warehouse space for unsold seasonal products: Almost every business deals in some sort of seasonal products that only sell during a particular season. Sometimes you may find that certain businesses have to maintain a separate space for such seasonal products that remain unsold year after year in their warehouses. Such seasonal products that remain unsold are a big issue for your business. Not only they become obsolete and out of trend with every season, but you have to incur a loss on such products. By selling excess Inventory Liquidation Sale, you can deal with such seasonal unsold products like office stationery wholesale online and Mobile Accessories Wholesale Market save your business from expenses and losses related to overstocking. If you face any of these issues, then you must be holding on to surplus inventory in your business. This inventory can be disposed of if you sell this excess inventory online. But first, you need to know the certain formula that would help you in knowing some quantitative qualities of your excess stock. 1.Sales per square foot = annual sales / total square feet of the store: This formula helps you in figuring out how much inventory in your warehouse is obsolete and needs to be sold off. The formula calculates how much sales a business is making in relation to the space used to store its products. 2.Days Inventory Outstanding =( average inventory/cost of goods sold) x 365 days: This formula helps a business figuring out the number of days a particular set of inventory remains in the premises of the business before it is sold. The lower the number of days, the better the inventory performed. You can calculate the different DIO for different sets of inventory and figure out which inventory needs to be sold as excess inventory online.

4. You can use these simple formula before or after identifying the excess inventory of your business. Once you have identified the inventory to be sold as excess inventory online, then you can sell it through companies providing excess inventory liquidation in India like excess2sell. It is an excess inventory liquidation company that provides all kinds of solutions for your surplus inventory. Excess2sell deals with the surplus inventory from various industries like apparel and electronics. You can list your excess inventory online on the excess2sell portal and you will be able to sell off your inventory at a profitable price and wholesale quantity without any hassle. It provides you with an option to easily list your products and find the right customers for your stock. Excess2sell is a B2B platform that connects businesses that have the problem of overstock with firms that need to buy the overstock of that business. It is a win-win situation fr both sides of the transaction.