Importance of minimum Stock in Business

[Hate2Wait]

Whatever we are selling, Spare parts, Whiteboards or anything we need to maintain a minimum stock so that we can provide those to our customers and if delay in providing the products then we may lose customers and it will be a bad image so better to maintain minimum stock and when our stock is nearing the minimum stock we should place a new order.

 

[Bisolami]

Whatever we are selling, Spare parts, Whiteboards or anything we need to maintain a minimum stock so that we can provide those to our customers and if delay in providing the products then we may lose customers and it will be a bad image so better to maintain minimum stock and when our stock is nearing the minimum stock we should place a new order.

This is very true and we need to be able to have those products at hand so that once our customers ask for the products the seller will be able to sell to them and also it should not be too much so that they won't get spoilt

 

[Hate2Wait]

This is very true and we need to be able to have those products at hand so that once our customers ask for the products the seller will be able to sell to them and also it should not be too much so that they won't get spoilt

This is where maintaining minimum stock will be of so much help for us in our business

 

[Bisolami]

This is where maintaining minimum stock will be of so much help for us in our business

And that is why you need to know when it is likely for your products to spoil or expire so that you will not buy too much and he will not have less than what your customers will order

 

[Shavkat]

For those items that are not saleable, the business owners can stock a few items. If the items are in demand, then they need to stock more.

 

[Hate2Wait]

And that is why you need to know when it is likely for your products to spoil or expire so that you will not buy too much and he will not have less than what your customers will order

All these things need to be considered because we need to see the shelf life of the product and it's expiry date to manage the inventory.

 

[Bisolami]

All these things need to be considered because we need to see the shelf life of the product and it's expiry date to manage the inventory.

For example, my mum used to sell sausage rolls. She buys a lot and at the end of the day, it expires and people won't buy it

 

[Sanjeev]

Yes, a business needs to keep some inventory to run the business smoothly. It may not work for the business where the product or raw material is a perishable item but still, there are also some norms for it.

 

[Bisolami]

Yes, a business needs to keep some inventory to run the business smoothly. It may not work for the business where the product or raw material is a perishable item but still, there are also some norms for it.

Every business needs inventory to sustain itself. People love invention and it brings more customers

 

[cherry123]

And that is why you need to know when it is likely for your products to spoil or expire so that you will not buy too much and he will not have less than what your customers will order

I think it will good to also check the expiration date to be sure it will get expired very soon.

 

[Bisolami]

I think it will good to also check the expiration date to be sure it will get expired very soon.

We have already started checking the expiry date before buying those products so that we won't buy too much that we can't sell before the expiry date

 

[cherry123]

We have already started checking the expiry date before buying those products so that we won't buy too much that we can't sell before the expiry date

Yeah way to go it will help one to avoid high losses they comes with expired goods.

 

[Bisolami]

Yeah way to go it will help one to avoid high losses they comes with expired goods.

That's true
This is why some people check product expiry date before they buy the product to know the quantity they will buy

 

[Hate2Wait]

For example, my mum used to sell sausage rolls. She buys a lot and at the end of the day, it expires and people won't buy it

Yes we need to see it and can plan the production as per our sales and we also need to take into consideration special days

 

[Bisolami]

Yes we need to see it and can plan the production as per our sales and we also need to take into consideration special days

You're right
If we plan the production as per our sales, our goods won't get spoilt or they won't waste

 

[cherry123]

You're right
If we plan the production as per our sales, our goods won't get spoilt or they won't waste

Definitely, even production should be minimised to avoid spoilage too which will cost money

 

[Hate2Wait]

You're right
If we plan the production as per our sales, our goods won't get spoilt or they won't waste

If we can consider all these things and also look into the special days like Sundays or festivals on which you see better sales then it will be quite useful

 

[Bisolami]

If we can consider all these things and also look into the special days like Sundays or festivals on which you see better sales then it will be quite useful

Ooh that's very true
Goods like that sell faster in places that can be visited on holiday or during a festival

 

[Niyi Briggs]

It is important so that your customers won't be disappointed in the event that your own supplier fails. It is a good thing to do.