Seasonal Inventory: Gnome your demand
As soon as the sun hits the UK, everyone is stocking up on their essential summer supplies. However, with summer days and alfresco nights upon us, staying on top of your seasonal inventory can be challenging. Given that the met office has already issued hot weather warnings across the UK, how can you be sure you have the right amount of stock? Have you forecasted your seasonal demand accurately? How can you prepare for the end of season?
With temperatures looking to skyrocket in May, demand for summer products will no doubt surge. Over the May bank holiday alone, sales of paddling pools increased by 50% whilst garden gnomes prove to the biggest driver of sales within the garden category.
The challenge for businesses is that sales of these products are often almost entirely driven by seasonal demand. In some cases, these products may sell exclusively at a particular time of year. Consequently, supply chain teams need to buy and manage seasonal inventory carefully in order to fully exploit the opportunity to profit!
Seasonal inventory - Take control
It’s important that seasonal demand is managed and measured in relevant intervals such as days, weeks and months depending on the seasonal fluctuations. After all, you don’t want to be left with the effort of having to manage endless marketing campaigns to sell through the excess seasonal inventory at discounted prices. Likewise, the last thing you need is your seasonal inventory gathering dust in your warehouse until the season rush returns! But how can you rein in seasonal demand fluctuations?
Download our simple guide to seasonal inventory management
Unless a business takes steps to manage seasonal spikes, demand can quickly spiral out of control. Complete the form below to discover our 8 top tips for effective inventory management during seasonal peaks.