How to avoid having a large stock of expired products

[cherry123]

You would be running a business at a loss when you have a large stock of expired of products in your store frequently. The thing is that people would not want to buy such products so it becomes a huge loss to the business. You can do the following to avoid such.

Start with buying products with long duration expiring date

Have a quick sales turnover

Don't store the products in areas that will quicken its expiration rate.

 

[Sophie]

Greed is the main thing that lead people to loose there stock, it causes them to wait for initial prices to raise up and makes the normal price to fall

 

[Suba]

To avoid product overstock, you don't have to replace the product by buying a product with a long expiration date, whether a long expiration date product will be liked by customers, but you have to be able to calculate safety stock, as well as make sales and purchase estimates. You can also apply the FEFO method to value inventory.

 

[AmazingJob]

To avoid this, you need to check inventory first, check how fast you run out of the product and how slow it is. Then from the inventory, you will an idea when to restock such items.

 

[nomad]

You will first have to see what products are in high demand and what products are in less demand. You should only stock pile products that are in high demand to avoid issues of expiry.

 

[Ofonime]

Definitely it's simple you need to check the product expiring date before you buy it of the expiring date is close don't buy that product

 

[Springtime]

You should check which products are in high demand and order them frequently. For products that are not so popular, order less. Otherwise, you will have a stock of expired products.

 

[Ratine]

A wise entrepreneur would have a very diligently management of the inventory system of the business. By doing so they would avoid unnecessary losses that arises from excess ordering of merchandise.

 

[Kera]

It is all about understanding the flow of sales in your business. And then, stocking alongside that rate of sales flow.

 

[Golden9]

I'm addition, it's important to regularly keep stock of the items you have, operating with the first in, first out method so good close to expiry are sold fast.

 

[Shavkat]

In my country, products that are expired can still be replaced by the suppliers. I think it does happen in other countries, too.