Before Tet, high consumer demand forced businesses to boost production and import large quantities of goods to meet market demand. However, right after the holiday, purchasing power slowed down, causing a large backlog of goods, putting great pressure on finances, storage costs, and affecting the business strategies of many businesses in the first months of the year.
According to statistics from the Thanh Hoa Department of Industry and Trade, the inventory of many enterprises after Tet often increases by 20-35% compared to the average level of the year, especially in items such as food, confectionery, beverages, clothing and construction materials. Some large manufacturing enterprises in Thanh Hoa have had to adjust their business strategies to reduce inventory pressure and ensure supply-demand balance.
The main reason for high inventory after Tet is the difference between forecasted demand and actual consumption. Toan Thanh Confectionery Joint Stock Company, located in Quang Dong Ward (Thanh Hoa City), increased production by more than 40% before Tet to meet the demand for gifts and use during the holiday. However, after the holiday, purchasing power suddenly decreased, the amount of unsold goods at dealers was still large, forcing the company to apply a strong discount program of 20-30% to stimulate demand. In addition, the company also increased the distribution of inventory through e-commerce channels such as Shopee and Lazada to reach more customers. Mr. Nguyen The Thang, Director of the company, shared: "We have forecasted consumption demand based on data from previous years and market trends, but in reality, after Tet, purchasing power decreased more than expected. Currently, the company is implementing many measures to quickly increase inventory, including deep discounts at dealers, expanding online sales channels and cooperating with supermarket systems to increase product coverage. Our goal is to consume at least 70% of inventory within a month after Tet to avoid affecting capital flow and subsequent production plans."
Not only the food industry, the garment sector has also been affected. Truong Thang Garment Export Joint Stock Company (Nong Cong), which specializes in manufacturing and exporting clothes to Japan and South Korea, recorded a 20% increase in inventory after Tet compared to the same period last year due to foreign partners cutting orders. In response, the company has flexibly shifted to the domestic market, cooperating with large supermarkets to distribute products. The company has adjusted its production plan, focusing on product lines that suit domestic consumers' tastes, such as office wear, street wear and home wear. The company has also invested in improving designs, improving product quality and diversifying price segments, making it easier for customers to access. In addition, promotional programs have also been implemented to quickly increase inventory, reduce inventory pressure and maintain business operations.
The construction materials industry is not exempt from the common difficulties. Truong Giang Construction Materials Company Limited in Lam Son Ward (Thanh Hoa City) has faced a situation where inventory has increased by more than 25% compared to before Tet because construction projects have not restarted immediately after the holiday. To solve this situation, the company has proactively contacted distributors and implemented an attractive discount policy for large orders to reduce inventory. At the same time, the company has also adjusted its production plan, reducing operating capacity by 15% in the first month of the year to avoid oversupply; and strengthened cooperation with construction contractors to ensure stable output for products.
Faced with this situation, businesses in Thanh Hoa have applied many solutions to reduce inventory and optimize business operations. Some retail businesses such as the supermarket system Co.opmart Thanh Hoa and Go! Thanh Hoa have started implementing the program "Tet clearance - Shock price" to quickly push inventory, help recover capital and reduce warehouse pressure. According to Ms. Le Thi Dung, Director of Go! Thanh Hoa supermarket: "We have proactively adjusted our sales strategy, increased deep promotion programs to stimulate consumer demand. At the same time, the supermarket also coordinates with suppliers to offer preferential prices, helping customers easily access quality products at reasonable costs. In addition to direct discounts, the supermarket also applies the form of buying gifts, discounts on bills, or accumulating bonus points to encourage consumers to spend more".
Some other enterprises in Thanh Hoa also apply technology to inventory management to optimize the supply chain. For example, Thanh Hoa Pharmaceutical - Medical Supplies Joint Stock Company has used smart warehouse management software, helping to accurately track the quantity, expiry date and location of goods in the warehouse. Thanks to that, enterprises can quickly adjust distribution plans, minimizing surplus or expired goods. In addition, the company also strengthens cooperation with major distributors in the Central region, expanding online sales channels to reach more customers.
In general, the problem of inventory after Tet is always a challenge for businesses in Thanh Hoa. However, with flexible management strategies, from adjusting output, optimizing supply chains, promoting promotions to expanding markets, businesses can completely minimize risks, balance supply and demand and maintain stable business operations in the first months of the year.
Article and photos: Chi Pham
Source: https://baothanhhoa.vn/hang-ton-kho-sau-tet-bai-toan-can-doi-cung-cau-cho-doanh-nghiep-238814.htm
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