Out the old and in with the new. We’re all familiar with that saying.
Things are no different in the eCommerce world. In order to introduce new products, you need to deal with stale, slow-moving inventory first and foremost.
According to experts, inventory that’s sitting idle for more than six months is a major expense to your business. And, if your slow-moving stock happens to be a high-quality (and therefore high-cost) inventory too, it can add to your cash flow woes.
So, how do you deal with your slow-moving stock that is not only obstructing the cash flow of your store, but stopping you from adding fresh stock into your business as well?
I will walk you through six new ways that could help you deal with the excess inventory problem. But before I start talking about them, let me underline a few crucial facts about excess inventory and its severe effect