Inventory planning for peak trade season can place many SME owners in a quandary. To get maximum returns from peak season you need to have sufficient stock on hand. But you don’t want a surplus that weighs your business down after peak season has eased. Fortunately, financing your inventory order can be simple as you can access funds through solutions like Capify small business loans. Better yet, there are strategies you can put in place to order the right amount of inventory for peak season. Here are a few to get you started:
Dig into that digital data
Your clients leave a digital footprint that reveals much about their preferences, spend and ‘hot buttons’. Drill down into that digital data to help you anticipate which items are likely to be your top sellers for the upcoming busy season. Monitor your web traffic, sales data and trends so you are right across which products your customers are likely to buy. Informed forecasting makes for sound inventory orders.
Track that inventory
Customers love to be kept in the know. That means there is a lot more to inventory planning than simply delivering the goods. There are many inventory tracking software solutions available to help you create a responsive rewarding customer experience. Imagine being able to tell a customer where their order is in the manufacturing pipeline and when it is likely to be shipped then delivered. The right software can enable you to do this. Remember you can access funds through small business loans to purchase inventory tracking software. You may just find that this investment is the making of your peak season trading.
Stagger out your supply chain
Why access funds for one large lump inventory order when you could break these out into smaller bite-sized chunks in the few months leading up to your peak trade season? If you follow this strategy you lighten the load of your supply chain considerably.
So there you have it. A helpful blueprint to get you sufficiently stocked up for peak trade season without being overstocked or overburdened. If you are looking to order your peak season inventory soon, be sure to include ‘access funds’ as a step in your planning. Why not speak to Capify today about how their nimble small business loans can support you through your busy season?
Or call 1300 760 930 to speak with one of our friendly Lending Consultants now.