Your seasonal merchandise suppliers can't keep up with demand. How will you ensure your shelves stay stocked?
When your seasonal merchandise suppliers fall short, maintaining stocked shelves is crucial to capitalize on peak sales. Here’s how to tackle this challenge:
Have other strategies worked for you? Share your insights.
Your seasonal merchandise suppliers can't keep up with demand. How will you ensure your shelves stay stocked?
When your seasonal merchandise suppliers fall short, maintaining stocked shelves is crucial to capitalize on peak sales. Here’s how to tackle this challenge:
Have other strategies worked for you? Share your insights.
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I never ever take one supplier for a product, always at least three, plus our private brand in order to have variety, enough product; mix price points (good, better & best), so we can increase sales and foot fall, we always preapre one shots for eachy key season and top 20 items sold, this products are ordered to the suppliers 9 months before so we can get the best Prices, and never go short on inventory, and recieve it before and sell more at full price and get ahead of our competitors. Thank you. Best Wishes.
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When seasonal merchandise suppliers fall short, it’s crucial to act fast to maintain stocked shelves. Start by diversifying your supplier base to avoid over-reliance on a single source and build relationships with backup vendors. Use demand forecasting tools to predict peak needs and place orders early. Maintain a buffer stock of high-demand items to cushion unexpected shortages. Explore local sourcing options to reduce lead times, and negotiate priority shipments with suppliers when possible. If shortages occur, offer alternative products or bundles to retain customers. Proactive planning and agility are key to sustaining sales and meeting customer expectations during peak seasons.
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If you’re in this pickle, it’s a great time to go hunting for new vendors that can fill in important categories. This kind of challenge can be a blessing in disguise for a few reasons. 1. Holiday shopping patterns tend to be a bit different than the rest-of-year customer buying, so it can be helpful to seek out current trends and procure the types of items/vendors that will be an easy holiday sell. For example - candles, these sell well year round but tend to be especially strong at holiday (easy, nice gift). 2. Your loyal customers will LOVE seeing new lines mixed into your traditional asst. 3. You’ll end up stumbling across a couple lines that are awesome new additions year round. 4. Look local! Waiting for shipping is valuable time.
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Seasonal items should be sourced from multiple suppliers, to ensure availability for our customers, which is at the end the purpose when being a "customer oriented company". Supplier incentives (such as early payments) could be set in place defining especific volume milestones, so it becomes a WIN-WIN-WIN deal for My costumer, My company and My supplier
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Diversify Supply Chain Work with multiple suppliers & Regional Suppliers for quicker deliveries. Inventory Planning ( Pre-order merchandise based on historical data and emerging trends to mitigate last-minute shortages.) Prioritize bestsellers to maximize availability and customer satisfaction. Keep customers informed about restocking timelines.
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1. Diversify Suppliers Work with multiple suppliers to avoid over-reliance on one source, and secure backups for peak seasons. 2. Plan Ahead Use sales data to forecast demand and place orders early, especially for seasonal items. 3. Establish Supplier Relationships Build strong partnerships to secure priority access during high-demand periods. 4. Stock Alternatives Offer similar or complementary products to fill gaps when specific items run out. 5. Use Inventory Tools Leverage inventory management software to monitor stock levels and automate reordering. And be honest and upfront with your customers, when stock runs low....most will understand.
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This would be the time to test the next seasons new product offering. If the supplier has not been able to partner with the merchants to keep a seasonal , replenishment program in stock , however, I would be sure to negotiate a discount on the new delivery . This 2024, we have a shorter window in which to sell Holiday seasonal product, combined with the consumer buying product earlier than before. Do a hindsight quickly and impose learnings on the next seasonal Holiday - Valentines Day .
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Work with multiple suppliers or manufacturers to secure the necessary products is the best option. But this is not work every time due no option for multiple supplier OR during season all supplier are normally busy and unable to deliver service speedily. To me Forecast accurately is the only key to success. For this do analyses your historical data, trends, and forecast demand more accurately for the season. This can help you place early orders and ensure adequate inventory.
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It's very important to track vendor performance season wise & alter them about the challenges n difficulty going to face on the delivery slides/delay before placing the orders. Get to an alignment scenario wise. Planning & Execution of orders will be placed with multiple vendors based on there performance to avoid such circumstance, situation... Order tracking/Follow up is very much important with the vendors weekly wise. If you find difficulty/unforeseen delays still, it's better to take partial-breakup deliveries.. to avoid business loss & losing royal customers. (On a worst condition)
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We should work out following , - our requirment - full knowledge of product and alternate products/brands - best vendors in market for same product - best alternate to the product which will not affect my quality and production - one or two companies using alternate products and thier cons and pros Thus will avoid un desired situation
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