White Elephant – Liquidating Excess Inventory
When managing a business, there are always situations to avoid when it comes to stock, excess inventory, and equipment. Each new season, many businesses find themselves in the same situation of having left over or excess inventory from the previous season taking up space on their shelves or in their warehouse. These overstocks need to be disposed of in a timely fashion in order to make way for new incoming inventory.
If these situations aren’t handled properly the lot of goods can become what is known as a White Elephant. This occurs when an item or a group of items become “dead weight” in the context of the business. These items become more costly to house and maintain than their worth to the business warrants.
Working with an experienced liquidation company can help businesses to reduce the risk of being unable to unload items. Here’s why:
A liquidation company, like Ideal Trading, will have a network of third party buyers that they have well established relationships with.
An experienced appraiser will be able to determine the value of the excess inventory or equipment based on quality, the type of item, and the size of the lot. They will be in the position to determine the value of the items while setting price points that will position the items to sell.
Your liquidator will have a working knowledge of the current marketplace and price points for the type of inventory each individual business is looking to unload.
A quality liquidator will always make an offer to the client BEFORE shopping their lot around to potential buyers.
The last thing a business owner wants is excess inventory taking up valuable space in their store or warehouse when they have new, more desirable items coming in. Before cost to house this excess stock begins to offset profits made on new inventory, talk with a professional liquidation company. A white elephant in your warehouse is a burden that can be easily avoided with a quick phone call.
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