Get 50% off on the first 3 months of your monthly subscription

Get your discount

Switch to Orderhive now

save 50% on your first quarter

of your monthly subscription.

Get your discount

Offer valid for first 3 months only.*

Important Stock Management Tips for Your Next Exhibition

Events, exhibition, trade shows have been around since long and are evolving year-after-year.

A number of people are showing interest, hence, the importance of such events is gaining more visibility among growing sellers.

An exhibition does not have to be set up in Las Vegas to encourage audience; however, starting small can also help you win the game if done correctly. The most important aspect to consider is stock management for your next exhibition.

Tips to organize stock

In this blog, we will discuss the best stock management methods to encourage sellers to adapt to one of the most influential awareness strategies- organizing exhibitions.

Four crucial questions to ask yourself before your exhibition days

1- Have you stocked them sufficiently?

Firstly, to ensure a successful exhibition for your business, you need to attract a relevant audience. And, with sales being your main goal of the exhibition, even more important; is to ensure appropriate stock availability for your exhibition days.

An ideal way is to conduct a registration process some days prior to your exhibition day that will make it easy to understand the response and how many people will actually turn up for the event.

For example, you spread a word about your exhibition across multiple social media sites and closing registration a week before the exhibition will give you chance to get an idea about the number of attendees who will be there.

By offering multiple response options like “Attending,” “May attend” will give you much better insights to make sure you will be able to supply products for every customer’s demand during the exhibition days.

Advice: It is always suggested to stock a little more than the actual registration counts, as nothing can hit a brand’s value more, by denying a potential customer’s need.

2- Will your products be easily accessible?

Now that you are aware of your stock requirement, next you need to attract customers in the most effective way.

So, what can you do?

An ideal way is to adopt an open floor plan for your exhibition. Without too many tables obstructing access, your visitors will find it more comfortable and would not mind staying there throughout the exhibition. This will then automatically encourage them to engage with more and more or your products and make multiple purchases.

Advice: Maximize walking-around space by mounting product brochure on the wall, and have the logo displayed so that it will easily guide your future customers to the correct place.

3- What if you have leftover stock?

As mentioned before, you should stock more than the actually confirmed registration for your exhibition. However, many sellers may worry about how to get going with those unsold products?

Don’t worry!

Take this as an opportunity to learn and maintain the accurate stock requirement for your next exhibition. Apart from that, you have a chance to promote your products again to all those came to your exhibition via email, retargeting them with special discounts to increase sales.

4- Do you have a stock management software to track your inventory and ROI?

Last, you would want to actually be able to track the exhibition’s performance. Understanding metrics like is important:

  • What worked?
  • What didn’t?
  • What was the amount of time and money involved?
  • Did it earn enough business?

Such metrics will not only offer clear insights about your exhibition performance but also, helps you understand your potential customer wants, even better.

Closing Tip

Try and maintain a separate warehouse space for your exhibition stock

You have considered everything and your stock are perfectly organized to boost customer’s experience and increase conversions rates from your next exhibition.

However, stocking your exhibition products within the same area that experiences frequent ins and outs of products based on your regular customer’s orders will create confusions.

It will be a wise decision to specially allocate a separate warehouse space for your exhibition stock to make it easy to deal with stock requirements during the actual days.

For instance: You deal with the fashion industry and you decide to run a seasonal exhibition. Therefore, having space separately for your fashion collection will be helpful to stock those seasonal wear systematically, as well as, deal with them post exhibition too.

It will be a wise decision to specially allocate a separate warehouse space for your exhibition stock to make it easy to deal with stock requirements during the actual days.

Automate inventory processes?

Manually keeping a track of your stock requirements for your exhibition days increases the chance of messing up with stock counts.

Automating inventory, you’ll be able to track your products across all your warehouses from one place and ensure having enough stock in hand to grab every opportunity during your exhibition days.

Such stock management software also helps sellers to understand their exhibition stock flow that makes it easy to take better and cost-effective decisions every time they organize an exhibition, no matter how big or small.

Having a note of all the above details and automating your stock management processes will help improve efficiency and make smarter decisions, resulting in an excellent inventory practice for your future exhibitions.

Wrapping up

Keeping in mind these points and automating your stock management process will help improve efficiency and make smarter decisions, resulting in an excellent inventory management practice for your future exhibitions.

Savio Fernandes

Savio Fernandes

Savio Fernandes is a writer who influences. Writing for over three years at Orderhive, he is currently focused in offering eCommerce and retail solutions for start-ups and medium business owners.

Post a Comment

Your email is never published nor shared. Required fields are marked *

*
*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>