Reasons Why You Could Need To Overstock Inventory

In business sometimes it's beneficial to get carried away by the wind. The wind being a consumer trend, you can profit massively from adhering to the growing needs of customers that may not be part of your plan. Maybe you didn’t intend on making a lot of sales in a particular month, but this year something is different and you can just feel it. However this does mean stepping outside of your comfort zone and doing something you wouldn’t normally consider. Overstocking inventory is a risk that can pay off when you get it right. But why would you want to overstock when it could potentially go to waste, end up taking a chunk out of your funds and possibly cause logistical problems?

Go with the flow

New events like Black Friday are one of the best reasons for overstocking inventory. Once upon a time there were two main points in the year where you definitely should have overstocked. They were during the summer when people are out and about, shopping more freely and all the way until 10pm or more thanks to the sun staying out. The other was Christmas and New Year’s. These two times were when you could bank on making more sales than usual. However these new events like Cyber Monday on 2 December and Black Friday on 29 November are chances for you to go with the flow and take in a huge amount of sales. You need to be ready for this by having more inventory than usual.

It's easy access

Now more than ever small business owners have the opportunity to take care of their own storage needs. Many business owners dare not overstock because they have nowhere to put all their products. However you do have Easy Access Self Storage options which allow you to store extra inventory and access it whenever you wish. This could be like a purgatory or pit stop for your inventory. It's not quite in full warehouse storage but it's not ready to be shipped either. You can manually access it whenever you want it, also making it more secure. This flexible storage space and also be used to just declutter your offer or clear up some space in your larger warehouse.

Hot off the line

Promotional deals are brilliant to get new customers on board as well as please existing customers too. It brings more awareness to your business and is a way to increase your sales at the same time. You need to anticipate how well your promotional and discount deals will do. If you believe that you’re going to be making a excessive amount of sales than normal, then you must overstock your inventory to keep up with demand. Nothing like offering consumers a great deal to only then not provide it when they ask. That’s a great way to lose the confidence of the general consumer.

There are not many times you have a good reason for overstocking, but if the situation calls for it you must have the option. Following trends like Black Friday is definitely one reason to do so.