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Question of the Week: How Do You Prepare For Year-End Inventory?
Of course keeping track of inventory is a year-round process, but in December, it's great to get rid of as much as possible so we can start the new year fresh and streamlined.
I don't sell products, but I do have a membership database to maintain and from time to time, I get behind clearing out old listings and updating my members' records. I always say I'll do it each month, but every year, I end up with a backlog in December. I'll be taking care of that over the next four weeks.
What about you? As December goes by, your inventory should dwindle a bit each day. As you approach the last of the holiday ordering days, do you further discount merchandise so you don't have to inventory it later?
What are your most efficient ways to prepare for the end of the year where you inventory is concerned?
Have a great week!
dM
I don't sell products, but I do have a membership database to maintain and from time to time, I get behind clearing out old listings and updating my members' records. I always say I'll do it each month, but every year, I end up with a backlog in December. I'll be taking care of that over the next four weeks.
What about you? As December goes by, your inventory should dwindle a bit each day. As you approach the last of the holiday ordering days, do you further discount merchandise so you don't have to inventory it later?
What are your most efficient ways to prepare for the end of the year where you inventory is concerned?
Have a great week!
dM
Tags: holiday, inventory, question
Views: 3
Replies to This Discussion
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Permalink Reply by IBN Member Charlene Sevier on -
I physically visit the stores that carry my jewelry and take a complete inventory. At the present time, the stores are close enough geographically that this is feasible. When my jewelry is in stores further away, the store manager would need to assist me with this and this is something I would negotiate at the beginning.
The jewelry I have on my website is easy to count because I have it physically with me. I don't particularly try to reduce inventory at the end of the year, I try to operate all year long with a view of how the books will look at the end of the year. This is very necessary when shopping for beads and other jewelry components. It is so easy to be tempted into buying more than is really needed.
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Permalink Reply by ellice on -
I use my late in the year inventory as Marketing tools..i send it to Clients that may want private labeling..to say thank you to spas and vendors that has helped during the year or use them at the kiosk for sampleing..ect ..I dont Know if its the most efficient but It has helped in getting new clients or getting the buzz moving..
Bramble Berry
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