6 Tips How to Manage Amazon Inventory before Chinese Spring FestivalSheng
The annual Chinese Spring Festival is almost approaching. And if you are an Amazon seller and importer of China, you know the importance of maintaining a good inventory and it is a must for you to understand the ins-and-outs of the Chinese New Year, also known as Spring Festival.
For aspiring Amazon sellers out there, we will give you tips on how to manage your inventory to have smooth flow in your business and avoid inventory issues.
1. Create a strategy plan for the Spring Festival
It’s customary that all manufacturers will close the production line and factories 1 or 2 weeks before the festival this will allow migrant workers to enjoy the nation-wide festival. There will be no manufactured product for the orders placed during the festival and all orders will be piled up and wait until workers come back. Remember to make a strategy for your business, months before the festival.
2. Understand the demand & stock level for each of your product.
A good accurate planning will help you a lot. If your products are coming mostly from China, you have to consider your sales volume and inventory for this would be a peak season for purchasing and shipping that might cause delay in your shipments. The Amazon sellers have system used to look at with their previous Amazon sales reports to understand how much they’re selling of each item. Take seasonal variations into account and calculate roughly how many units you’re shifting on a monthly basis. Don’t forget to take account of year-on-year increases in customer demand.
3. Estimate the lead times and factors of delay
Estimate & understand the typical lead times you have for international shipping, logistics, and distribution. FBA sellers will also to estimate the lead time between when it arrives at the Amazon warehouse and when it will be available for sale. If you order too late, you might have to pay additional fees for rush shipping.
And if you’re going to run out of stock in the weeks leading up to or following Chinese New Year, a delay of about a week for orders that you’re putting in during the Chinese New Year holiday.
4. Place an order & ship early before the festival
To replenish your inventory & keep normal sales, you’d better place an order with your Chinese suppliers ahead of time. Ideally, the ordering period should be range from the mid-November to the mid-December. It allows the factory over 2-month lead time before the festival rush.
Remember to work with your logistics and product supplier and schedule a shipping plan ahead of the festival to figure out a shipping solution for your business either by ship, air or land.
5. Make an alternative backup plan
Make a backup sourcing plan prior to the Chinese Spring Festival rush. It is a must for any successful Amazon seller. Do not put all your eggs in one basket, and rely on only one supplier. You may source your product from other countries like Southeast Asia, India, African or other regions given the market factor, cost, quality, etc.
6. Create reminder in your calendar
Amazon inventory management entails lots of work and time. If just want to have appropriate inventory and ensure a good running of your business, you should be aware of big events in China such as the Chinese Spring Festival. The date of Chinese New Year changes every year, so if you add reminders to your calendar now you’ll already be ahead of schedule for next year. Your backup plans or solutions would be helpful to prevent possible accidents occur on your supply chain.
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