Ordering inventory early is a great tactic for success you can use in your bookstore. Keep reading to learn more about why early ordering matters in the world of collegiate bookstore.
Early Textbook Orders Enables Buyback
Buying textbooks for your store early is a great strategy for not just your store, but for the whole university. For example, if professors adopt their books early, your store can plan inventory and then buy back spring books for use in the fall. This enables better buyback rates for students and increases the availability of used books in the following semester.
Inventory Management Becomes Easier
When you order early, you naturally have more time to take a complete count of what you have in stock and; in turn, have more time to manage your inventory. This also helps stores with multiple PoS stations make less errors to protect margins.
Easier Management of Seasonal Demand
Demand for course materials is highly seasonal, peaking during the rush at the start of each term. The course adoption process from faculty is extremely detailed, time-consuming, and expensive, making early action essential. Ordering early helps your store manage this seasonal demand easier.
Sources
https://www.unlv.edu/news/article/getting-most-book-your-buck-tips-bookstore
https://www.rfsmart.com/netsuite/industries/campus-stores
https://www.insidehighered.com/blogs/technology-and-learning/college-bookstore-qa
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