There is one absolute rule that every uniform manufacturer and distributor can agree on: Inventory equals risk. The truth is that inventory does not improve or increase in price with age. Uniform warehouses full of goods do tend to hold their price better than the general apparel markets. But, we all know the harsh realities facing our industry today, and in the face of falling prices, smart companies adopt appropriate measures to deal with excess stock.

The longer a garment sits in a warehouse or a store: 1) the greater the risk that style will no longer be desirable; 2) the likelihood that the price will need to be lowered to move those items; and, 3) the bigger the liability to whomever is holding that inventory. This truism for the trade has resulted in opportunity for the off-price dealers. It has also created a secondary market for companies to sell and manage their overstock.

No matter the type of uniform related goods, UniformMarket now offers a solution for manufacturers and retailers to promote their closeouts and overstocks. The MarketPlace service center at UniformMarket.com features listings of uniform-related merchandise posted by the companies themselves. There is opportunity to sell both vertically and horizontally: manufacturer to dealer, dealer to dealer and manufacturer to manufacturer.

After registering for free, participating companies login to their secure UniformMarket Company Account Manager. From there, they can post one or many products in the closeouts and overstocks area for as little as $25. Unlike an online auction site such as eBay, MarketPlace at UniformMarket.com offers companies the opportunity to promote merchandise at no additional cost beyond their listing fee. The cost to sell $100 or $10,000 dollars worth of product is identical.

The service also includes MarketPlace listings being sent via email to all those that are on the UniformMarket News email lists.

“I think the technology has moved along, and the timing is right for the type of service UniformMarket is offering,” says Harvey Klein, president of Red The Uniform Tailor . “At Red The Uniform Tailor, an e-newsletter will get read more than a printed version at this point. We can circulate an electronic document internally better than a printed edition of something.”

At times, the overstock issue comes from a component and not the finished goods category.

“I don’t have many closeouts and overstocks because we manufacturer to order. But, periodically, we have raw goods we can’t use. Right now, we have a couple thousand yards of dark navy twill that a customer paid for that will not be used,” adds Klein.

Some companies simply turn to key accounts to move excess inventory. “We as a company sell our closeouts through a group of selected accounts,” says David Hein, general manager, workwear for Williamson - Dickie Mfg. Co. “If we still haven’t moved that inventory we go to a secondary list. Then, we go to the sales force and that usually takes care of 100% of our product. But, because we are not a fashion house we don’t turn a lot of product. So closeouts are few and far between.”

• Return to vendor
• Sell as new
• Sell via outlet or discount
• Sell to secondary market
• Donate to charity
• Remanufacture/refurbish
• Throw away