8. Make an inventory forecast and do not run out of stock
Running out of stock before Black Friday is one of the worst nightmares of all online sellers. Lack of inventory planning and forecasting can be one of the worst mistakes in eCommerce.
To avoid this, our best allies are statistics and strategic, measurable and effective planning. Analyzing the best-selling products and studying purchasing trends are two of the most assertive purchasing optimization tools that exist today.
Some of the strategies that allow us to reduce the risks of running out of stock before Black Friday are:
✓Plan purchases from the last quarter of the previous year.
✓ Make pre-purchases and purchases programmed, anticipated and with delivery schedules.
✓ Include financial analysis, possible leverage and inventory financing as a cash flow formula for increased purchases.
✓ Analyze storage capacity and study dropshipping, fulfilment and inventory management outsourcing formulas.
✓ Deepen the relationship with suppliers, diversify the source of products and create MDD (distributor brand) lines.
✓ Create lines of substitute and complementary products that can be alternatives in case of punctual inventory failures.
✓ Negotiate lines of credit, assigned inventories and payments for sale.