Is Your Excess Inventory Negatively Impacting Your Profits?

Posted by Jeff / on 01/24/2014 / 0 Comments

As a manufacturer, one of your primary concerns is improving the efficiency of your production. After all, an efficient company is typically a profitable company. One of the most common struggles for a manufacturer is inventory management. This rather daunting task can either be handled in-house or outsourced to a specialist third-party company. The latter allows you to free up your in-house resources as well as manage your inventory in a professional manner.

Excess inventory is especially difficult to manage in-house as it is typically shifted around to make room for new products. Many manufacturers do not realize that this unused inventory of components or products can, in fact, make them a profit. Managing and selling such inventory is one of the many reasons a manufacturer should hire a specialist company to handle the task.

Selling surplus inventory is not as simple as putting it up for sale online. It is important to know what the components or products you are looking to sell are worth. Therefore, it is necessary to hire qualified individuals, or electronic component distributors who are familiar with the market trends and know for which price your inventory should be sold. This is the best was to ensure that you are not only getting a fair price for your inventory, but that you are also not selling something that may be of use to you in the near future.

Selecting the best distributor to work with should take proper research. Most of your research can be completed online, however it is highly recommended to speak to the individuals in charge in order to get a feel for their knowledge, experience, and reliability. When doing your research, consider the length of time the distributor has provided such services, their success rate, the accuracy of their quality assurance inspections, and the knowledge of their staff. Once you narrow your selections down to several choices, converse with the manager or owner directly to get all of your questions answered.

 

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