It has often been said that the early bird God helps, that is, we hear again and again the importance of thinking ahead and exploit these advantages in our favor.
And it is well known that to know how to properly run our businesses, we must know the stages and seasons thereof, as such steps set the tone of the articles that we supply to promote our sales.
In marketing, there is a sales strategy called timely supply, which refers to the importance of being farsighted and implement a number of “techniques” to know what to buy, how much to buy and when to do it.
Proper application of this principle may sound very complicated, but it really is really simple, and in so doing can enjoy great benefits such as increased sales, advantages over your competitors, your customers preference and much more.
What is the timely supply?
Timely supply is the set of activities that can identify and acquire assets that a company requires for proper and efficient operation, either internal or external sources.
In simpler words, you buy what you need at the right time and in the right amount.
As mentioned above, this simple principle can make all the difference in your business when coping with your competitors and satisfy your customers by having the right items at the right time and in the right amounts will give you more opportunities to ensure your customers’ preference.
Advantages of timely and strategic sourcing
And plan “with time” purchases we need to go on vacation (we bought transport tickets in advance, we booked the hotel and bought swimsuits), in the same way we need to plan purchases for our business. We can not wait for an article “us end” because that immediately represents waste of money and even customers.
Part of the benefits of planning and timely or buy at the right time supply, is expected to always count with items that our customers need, when they need it, and preferably before our competition. Here we mention some of the advantages of making purchases timely:
- Purchase the product before selling it and everyone else. Often, customers want to purchase an item when they have the money on hand, and as sellers need to be ready to secure the sale. The ideal way to do this is to not wait for the date to purchase inputs, such as filling clothes with a couple of months in advance to ensure customer satisfaction and thus avoid going to the competition to acquire their garments.
- Das margin to sell all of your inventory. Part of the benefits of buying foresightedly is to give time frame so you can sell everything you bought. If you wait until the season arrives and shopping all at once, you risk not sell all your goods and have to save it for the next season.
- Accounts with news and fashion garments. As mentioned earlier in another article, Mexicans we like to dress fashionably. If you abasteces with time, allow yourself to offer new merchandise.
- You “on ahead” to the need for your customers. You will have the clothes they need, before they are aware that they need, and thus secured your sale.
- If a customer asks for a seasonal item, you have the assurance of it. Forget who you seek to take or you complete the order “last minute” for organizing your purchases you’re always ready to deliver what is needed.
- You guarantee your customer preference because they will know that you always have “new”.
Now how do I apply to my business?
As mentioned in the previous point, much of the success of implementing planning and timely supply has to do with the time we acquire items needed to satisfy our customers. That process needs to be done at the right time, because if not done properly can fall into the following errors:
- When buying too early, we fall into the mistake of investing our money very future and not have the cash we might need to resolve the issues present, plus we fall into unnecessary investments or extra charges for storing items that must wait be displayed. This can happen without fashion, be dusty, musty smell, among other disadvantages.
- By buying late fall at the opposite end, for our competition and will feature seasonal items, causing our customers go to them to stock up on necessities, plus when purchasing garments, these are already “chosen” and we must adjust ourselves to what is and buy what remained.
Undoubtedly, the solution to all these problems is to know the right season to supply us, and for that we share with you some tips on buying properly in key seasons.
- Sportswear: Generally, people undertake to exercise in January and pre-Easter season, so we recommend you abastezcas product since December, so you have at least 4 months of margin to sell and move the product.
- Gifts May 10: The Mexicans are much given to looking with some anticipation the gift of Mother’s Day, so if you sell exclusive clothing lady, we recommend stocking up since early April, will thus have seasonal garments before your competitors.
- Back to School: If you are a selling shoes, we recommend to consider this date, usually because parents do their shopping in August. To do this we recommend to take appropriate action and stock up on children’s shoes since late July, so you tell 2 months sales rank.
- Graduations and holidays closing: Usually in this segment key dates are July and December. Note that December is a season that lends much to lodges, weddings and gala dinners, so consumers may require party dresses. You can secure your sale if you surtes since June, in order to meet the needs of your buyers July, and have the certainty that you can still move the merchandise in December.
- Holiday Sales: Please note that in many companies, employees receive part of their Christmas bonus from November in the so-called “Buen Fin”, and therefore we recommend you prepare since then and take advantage of this key moment.
In Novotex, we always provide you with comprehensive support when making your purchases. Allow us boost your business! To learn more about our facilities and dynamic purchasing click here.