Taking Stock of What’s in Stock
In our latest blog post from our Director of Strategic Initiatives Chad DePasquale, we take a look at the criteria HESCO uses to determine which items to keep in stock on our shelves and explain how we can set up a stocking agreement tailored for your needs.
“Why don’t you have this in stock?”
This is a phrase I’ve heard many times over my 11 years at HESCO. It’s one I would like to address by giving a little glimpse into how HESCO makes stocking decisions on what should and should not be on the shelf.
Distributors must bring value to the local markets they serve, and some would argue the largest value they bring is immediate access to inventory. Stocking an item locally can mean the difference between your line being down for less than a few hours or a machine making its ship date to avoid costly penalties. So, when I hear that phrase above, I agree with you 100% — we should be stocking the items you purchase … so long as it meets certain criteria.
In most cases, if we sell an item 100 times a year, that item better be on our shelf. Conversely, if we sell an item once a year, guess what’s not going to be on the shelf when you call next time for it three years later? What I’m driving at here is the first criteria of stocking an item: how often is it sold? The more often it’s used and sold in our market, the better chance it has on being stocked at HESCO. If it’s sold once every year or two, we can’t justify the cost of keeping the item on the shelf.
Online Retailers vs. Local Distribution: Misconceptions Demystified
Check out our three-part blog series, Online Retailers vs. Local Distribution: Misconceptions Demystified, from Chad DePasquale, HESCO’s Director of Strategic Initiatives.
Misconception #1 – Big online retailers are ALWAYS less than local companies.
Misconception #2 – Free Shipping is saving me money.
Misconception #3 – All distributors should be offering quantity price breaks. O