Tips To Manage Inventory And Storage This Holiday Season

The holiday season is probably the happiest time of the year for retailers and shoppers. According to the National Retail Foundation, sales in the months of November and December can account for as much as 30 percent of a retailer’s annual sales.

Inventory management during this time is buzzing with activity and can easily spiral out of control. How can you manage all your storage and inventory needs goals, while staying on top of things during this busy season?

Efficient inventory management can make all the difference to your business’s margins. Here are some smart inventory management tips for this holiday season!

Optimize Storage for Surplus Inventory

Forecast Accurately

This is not an easy task, but doing your homework can get you closer to your goals. Determining your demand and sales forecast will help you stock the right inventory during peak periods. Look at the right forecast factors like:

• Last year’s sales during holiday season.
• Your growth rate.
• New market trends.
• Future promotions you plan to offer and competitor offers.
• Products that sold successfully in previous years.
• Overall economy in your industry.

Timely Audits

Taking stock before holiday season can help prevent lots of hiccups. Do a physical inventory check to make sure your digital records align with your actual stock. Cycle counting is also a great option to implement before the holiday season to count products on a rotational schedule, instead of all at once.

Ensure You Have a Plan B

Be prepared. Lack of preparation for demand during holiday season is one of the worst things you could do to your business. Create a backup plan for training employees to handle difficult situations, possible errors, or random, unexpected issues. For example:

• Your warehouse space cannot accommodate seasonal inventory – quickly acquire surplus holiday storage with portable storage containers.
• You don’t receive as much product as you ordered or there are delays in shipments – design display plans to highlight other products.
• You lose important files or data due to a sudden fire or theft – consider using high-security storage containers to store copies.

Use More Than One Vendor

As a rule of thumb, 20 percent of your products generate 80 percent of the demand. So, it’s a smart move to have more than one vendor supplying these products. This prevents out-of-stock situations. Just store your surplus inventory in holiday storage options until it’s time to set up shop.

Holiday Storage Options

Prepare for surplus stock with an effective inventory management system. Shipping containers are an excellent option for surplus holiday storage for your business.

1. Extra storage for inventory - Inventory storage in warehouses doesn’t come cheap, especially in cities. Shipping containers rentals offer cost-efficient seasonal storage solutions, since you don’t have to invest in expensive commercial storage space.
2. Popup shops - What do Nike, Target and Prada all have in common? These brands are using popup stores to get some serious attention. Popup stores spread brand awareness, test new revenue streams, and create avenues for unloading old inventory by exposing your business to new customers, especially during holiday season. What’s a quick, affordable way to get your business a popup store? Buy or rent shipping containers and modify them into popup stores! Containers can be revamped to match your brand’s aesthetic and set up anywhere.
3. Onsite inventory - Having your inventory onsite is a blessing. You can access stock anytime you like and you know exactly where everything is. On-site storage containers even maximize inventory control for the holiday season with adding shelving.
4. Business records - Shipping containers are a secure solution for storing all your important business records. They are water-resistant, with an option for high-security containers to deter theft and vandalism during the busy holiday season.

Get high-quality storage containers for rent or sale from Mobile Modular Portable Storage this holiday season. We offer great deals on new shipping containers for purchase and a unique 30-day rental plan. With it, you save an extra two days on rent. Our dedicated delivery team has its own trucks and trailers to make sure your container reaches you when you need it. Request a quote today.