Where to sell surplus inventory – an effective sale on SilentClicks

Surplus inventory can affect almost any business that deals in goods. The problem of stockpiles is as common as it is troublesome. However, there is a way to minimize its effects.

• How do you get rid of excess inventory?
• How do you reduce storage costs?

Learn more about warehouse surpluses and discover an effective method to eliminate warehouse stock outs with SilentClicks.

Warehouse surpluses – the main problems

Surplus inventories arise when the production or purchase of goods exceeds their sales, or consumption. These are situations in which companies have more goods in stock than they can sell or use. 

Reasons for stock surpluses

The main causes of so-called stock outs are:

Incorrect demand forecasts

If a company predicts that demand for its product will increase, it may increase production or purchases, but if demand does not increase as predicted, a surplus is created.

Seasonality

In some industries, such as apparel or toys, demand can vary widely from season to season. Companies may produce or buy more goods during peak demand, which can lead to surpluses outside this period.

Errors in supply chain management

Even if demand forecasts are accurate, errors in supply chain coordination, such as transportation delays or quality problems, can lead to surpluses.

Problems related to excess inventory

The main problems for companies, related to excess inventory, are:

Increased costs

Storing surplus involves storage costs, such as space rental, insurance, inventory management, as well as costs associated with maintaining and operating a warehouse.

Commodity-related resources

Surplus storage is related to resources (i.e., money) invested in goods that do not generate a return.

Obsolete or spoiled products

Products that are stored for long periods of time can spoil, become obsolete or become unattractive to customers, leading to losses.

Reduced cash flow

Money invested in excess goods can reduce cash availability, which can affect a company’s ability to respond to changes in the market or invest in new opportunities.

As more problems arise, which can lead to a company’s financial stability and, in extreme cases, even bankruptcy, excess inventory must be effectively reduced. 

Proven ways to minimize losses resulting from stockpiles are, first and foremost, selling off to customers, intercompany resale or, as a last resort, donating goods to charity – which at least minimizes storage costs.

Selling surplus inventory

The most popular way to get rid of unwanted goods backlogged in a warehouse is to sell them. However, there is not always an opportunity to do so, although it is worth knowing that there are companies on the market that deal strictly with the repurchase of backlogged goods and surplus inventory.

When a stock sale is particularly difficult, that is, when it involves either seasonal goods (such as Christmas trees) or those with a short shelf life, it can be really difficult to organize a traditional sale.

6 ways to get rid of surplus inventory

Selling excess inventory is one of the key elements of inventory management. Here are 6 effective ways to deal with excess goods:

#1 Sales and promotions

Sales and promotions are a proven method of selling surplus. You can lower prices, offer discounts on the purchase of several products, or hold sale events.

#2 Online sales

The Internet offers many opportunities to sell surplus items. You can sell them through the company’s online store, on auction platforms such as eBay, or on specialized surplus sales websites.

#3 Wholesale or discounts for business customers

If a company has large surpluses, it can try to sell them wholesale to other companies or offer discounts to large customers.

#4 Cooperation with inventory liquidation companies

There are specialized companies that buy surplus goods and then sell them themselves. This can be a good solution if a company wants to get rid of excess goods quickly.

#5 Donations to charity

In some cases, surplus goods can be donated to charity. This can not only help get rid of excess goods, but also improve the company’s image.

#6 Product exchange

In some industries, it is possible to exchange products with other companies. For example, companies in the apparel industry can exchange surplus products from different seasons.

When managing surplus inventory, it is important to approach this strategically and pay attention to the potential brand implications. For example, if a company regularly offers steep discounts, this could lower the perceived value of its products.

That’s why it’s a good idea to find a way to sell out that turns price reductions into special offers, unique bargains and customer or contractor loyalty programs.

For this purpose, a specialized tool for in-company sales, SilentClicks, which is designed with both the needs of businesses and the expectations of customers in mind, will work best.

SilentClicks – effective sales

SilentClicks is a tool that allows you to effectively reduce your backlog, while not negatively affecting the perception of the quality of the products offered by the brand.

By choosing one of the 4 available packages, you can easily create a completely new sales channel to sell your excess inventory.

5 Steps to a successful sale on SilentClicks

Effective selling of surplus inventory is an element of business management that, with the help of the SilentClicks selling tool, is easy to implement and brings tangible benefits to the business. 

Here’s how to organize an effective sale on SilentClicks:

A new sales channel

After registration, the user gets access to create sales offers on SilentClicks. In the free version, you can test the tool’s operation or run small sales – the Free package is free forever for each registered user and includes running 2 active auctions simultaneously and the ability to invite up to 10 auction participants.

Subsequent packages include capabilities tailored to the needs of entrepreneurs. They allow you to run more auctions at the same time, invite multiple participants, and allow you to configure the visual sales area to match your brand image.

Offers in the sales area

Adding offers is intuitive and takes literally minutes. The process is done using an intuitive form.

Depending on the active package, you can customize the tool to suit your needs. Thanks to different plans, SilentClicks works well for both small businesses and large brands. 

The Enterprise Package is the possibility to link the tool with other systems, so online stores can create a professional loyalty program for their customers.

Auction type

When creating an offer, you need to choose an auction type. Depending on the entrepreneur’s expectations, these can be auctions, during which participants raise the starting price of the product, or “Buy Now” offers with the price of the goods marked upfront.

Sale participants

Sales on SilentClicks have a closed form, i.e., only invited users can participate. Invitations to the sale area are sent via email. 

Due to the form of sales, the SilentClicks tool is perfect for creating unique loyalty programs for customers or significant contractors.

Sale products on SilentClicks do not mean problems for the seller due to frequently offered price reductions. Customers who get access to the loyalty program feel singled out, and the products gain the status of “exceptional bargains”.

Maximize profits

SilentClicks does not charge a commission on sales. This means that the entire amount from the sale of goods goes into the hands of the trader.

Maximization of potential profits is possible thanks to auctions. End-of-collection, last pieces and products that can’t be obtained by any other means are extremely attractive to customers, who are eager to participate in auctions and offer higher and higher stakes.

Merchandise that meant a loss for the company, thanks to SilentClicks, can gain a whole new value and bring an actual profit.

Key Takeaways: Sale on SilentClicks as a way to deal with surplus inventory

SilentClicks is a solution that allows you to turn the problem of stockpile emergence into a new revenue avenue. To take advantage of the tool’s capabilities, simply:

• Go to the SilentClicks website
• Register and select the appropriate plan
• Open a new sales channel
• Invite participants and generate profits

See how it works and try the Free Plan now. You’ll find that it’s worth using the potential of a specialized tool for in-company sales, SilentClicks, in your company to reduce your excess inventory issues. If you have questions – write to us and our specialists will be happy to advise you.