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Do Not Sit On Inventory ! It Can Get Outdated Without Notice

So i like to buy in bulk, this is how i was able to increase my profits because i was able to make my company look as thou it was buying more than we were selling and the distributor gave me better pricing. The key thou was we had to push this equipment out. I know were going to eventually use it so why not get it at a less expensive price.

Part of my ability to succeed with my own business was the negotiations of lower pricing on my equipment. When i first got started i had no idea how it worked. I overpaid so much for equipment i needed. Always remember every dollar saved on inventory is a dollar made ! When you are pushing volume it really helps to increase profits which in return will give you the money to spend somewhere else to increase even more sales to your company.

One thing that happened was i was sitting on inventory. A mistake i learned was that this inventory changes. Altho it is ok to stock inventory and i still do, i now know that you have to push this stuff out and not sit on it because if that inventory can no longer be used, your caught with dead money that will be hard to recoup.

If you order things in bulk and need to dump some of your inventory, call other companies and see if they want to buy. Remember you can always sell on amazon and eBay however from my personal experience your bound to get yourself into a frenzy with scam artist buyers. They will claim they never received product, it doesn’t work, damaged and more ! don’t scratch your head wondering if your at fault, its just a part of the game.

I had an incident where i shipped out 10 door sensors and the buyer said he received the package empty. I looked at the tracking number and the weight of the product, showed this to eBay and they said, NOPE sorry your SOL ! if you don’t know what SOL is its SHIT OUT OF LUCK ! i was out the equipment and the amount he paid they refunded it back to the buyer. This happened on amazon too !

Altho i was able to sell a good amount, reach out to others in your industry and work out a fair price ! its a win win. Just manage your inventory well.

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