How to Establish Inventory Levels of Travel Size Products
Posted by Cheap Travel Sizes on January 10, 2014.
The proper method for choosing your product mix of travel size items you sell at your store depends upon several factors, including expected sales. Any time you are adding new products to your inventories, it can be difficult to estimate future sales. Rather than order a larger quantity, it is better to start with a smaller amount -- typically between 6 and 12 per item -- for your initial baseline inventory.
Once the new travel size products are on your shelves, you are able to track current sales. If you notice you are selling out in a few days, you can increase your baseline inventories for those items selling quickly. For example, if you started with 12 items and are selling them out in three days, then your average sales are 4 items per day. If you order weekly, you would want to increase your quantity to at least 28. You should also remember to order a few extra to cover the overlap between the time you place the order and when it is delivered to your store.
The time of year also can influence the volume of sales you experience from travel size products. You may notice an increase in sales over the summer months and the holidays when families are traveling. As a result, you need to adjust your inventories to match, and then remember to reduce them to normal levels after peak sales periods. To reduce your inventories back to their regular levels, simply hold off ordering additional inventories a week or two prior to the end of the peak periods.
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