Tips for Managing Inventory during a Pandemic so that Sales Increase
The pandemic makes things uncertain. Starting from how to promote products, distribute products to distributors to manage inventory. For the latter, this is often a problem. Not only in offline stores but also in online stores. Resulting in the flow of products in and out of a smooth.
Indeed, many factors cause product sales to decline. As product prices go up, the products that customers want are not available, or a disaster like Covid-19. However, what is no less important is managing inventory.
Products will always be available, and customers do not need to look to competitors if inventory is well managed. Likewise, price fluctuations. Product scarcity causes product prices to rise.
Therefore, to overcome product scarcity and be able to properly manage inventory in online stores, understand the article below.
1. Just-In-Time (JIT)
You can use the Just-In-Time method if you want to minimize losses. Because, in this method, you only provide the product stock that is requested by the customer at one time. So it becomes clear that there will be no losses due to overstock.
However, you can’t keep up with large demand when there is a spike in transactions. You may lose customers. Therefore, products that are suitable for the JIT method are products that are not durable. The challenge in managing inventory is being able to predict customer demand. So that sales figures can be known.
2. Forecasting Demand
Stock data in the previous period is a common need. Moreover, when you need to calculate the stock for the next period. Thus, data becomes a reference in inventory management.
With data, you can predict products that can increase sales in the next period. Also, can find out which products should not be issued. Besides, also find out which products have been damaged or failed to sell.
3. First In First Out
The First In First Out method is suitable for online stores that sell fresh products. Because online stores need to issue products first. Why is that? So that you know the customer can enjoy the product immediately.
If your service is satisfactory, it could be that the customer will make repeat orders. Thus, the level of sales of these products has increased.
4. Perform a Stock Audit
What is forgotten when your online store does not experience an increase in sales is to forget about audits. Because the physical and online stock of products may be different.
The thing that happens is when a customer finds out that the online product stock is still there but physically there is no, you will be confused. Customers can complain and turn to competitors.
5. Overcoming Overstock or Understock
Both of these words, both understock and overstock, are avoided by business people. If you overstock, what happens is you find it difficult to issue the latest product. If understock, what happens customers can run away and look for online stores that are more prepared.
Therefore, inventory needs to be considered and managed properly. Of course, measuring product availability needs to be checked periodically. If necessary, audited every month, quarterly, or six months.
When you know the tips for managing inventory well, you are ready to get back to business. For your business to grow, do not forget to advertise through the Froggy Ads service, you’ll start by advertising your products in order that later you’ll increase visitors on your online business portal. Froggy Ads is a web advertising service which will assist you control all of your product campaigns. helps you target your required marketing target and provides you with multiple options for marketing your product.