Member Update with Gayle Dube #9

How do you handle excess stock in your clinic? Are you managing stock efficiently? We have all encountered situations where products are about to reach their expiration date, potentially resulting in wastage and financial loss. However, there are practical methods to effectively manage inventory. One of the most straightforward and effective approaches is conducting regular stock takes. By doing this consistently, you can pinpoint products that are nearing expiration or have been sitting on the shelves for an extended period.

Clearance sales have proven to be an excellent way to swiftly remove excess stock. Offering special deals to your clients not only helps in-stock clearance but also provides them with attractive discounts. Another effective strategy is offering product bundles at reduced prices. This not only reduces excess stock but also gives clients the advantage of great deals. Promotions and flash sales are also powerful tools to quickly sell products. Limited-time offers create a sense of urgency, prompting clients to make purchases before the opportunity vanishes.

Additionally, consider using products that are about to expire as samples or giveaways. Clients always appreciate complimentary items. By including samples with their purchases, you encourage them to explore new products. Running giveaways related to excess products not only engages existing clients but also attracts new ones, creating a positive buzz around your clinic.

Successfully managing excess stock boils down to creativity and resourcefulness. Experimenting with different strategies and staying proactive will keep your inventory up to date. Establishing a regular inventory check routine is essential. It not only keeps you informed about stock levels but also helps identify slow-moving products. Regular checks act as a preventive measure, ensuring you don't overstock in the future.

By applying these diverse strategies and maintaining a vigilant approach to inventory management, you can maintain a well-stocked clinic while keeping your clients happy.

Written by Gayle 
ABIC Facilitation Manager