Sales spikes: They're a good problem to have but can catch small business owners by surprise. Whether an item goes viral or unforeseen market trends arise — hello, fidget spinners — retail groundswells can hit at any time.
Luckily, with the help of some preliminary planning, you don't have to hand over business to big-name companies with even bigger backstock. Inventory management strategies such as analyzing data from previous years and evolving supplier relationships can help make an unexpected upswing into a profitable win for your business.
Prepare with eight targeted ways to enhance your inventory management and sidestep missed opportunities.