The surplus market is not running, it is flying. Due to how fast-paced it has become, finding the right buyers for all surplus items or goods a seller decides to source takes a lot of time. This is even more concerning when you are just starting in the industry.
Artificial intelligence shows a way to solve the problem and transform the process. As it enables platforms and sourcing partners to act as “smart connectors” that use predictive tools. These tools match buyers with surplus suppliers or sellers.
For instance, you can be a contractor buying surplus goods in bulk. Anything from drywall and concrete to maybe safety gear and equipment. Or you can be a surplus buyer and then a seller, trying to connect these items with their new owners and creating your business.
Regardless of the option, AI-driven surplus matching changes the way your inventory is sourced, managed, and moved. This makes it easier to organize your bulk purchases and sales later on.
Coastal Surplus Solutions helps you navigate this process. With predictive analytics and insights obtained from our results and experts, we show you how AI brings change.
This surplus market has become both an art and a science. Hence, it is time to become an artist and a scientist.
How AI Is Transforming Surplus Matching
What makes AI so perfect for this market besides the common tasks people ask it to handle?
For surplus matching, it is the way it analyzes massive datasets. So much information is moved through the surplus market and matching that it is impossible not to get lost at some point.
As a result, every detail can be overwhelming and lost in the sorting process.
AI-powered surplus matching platforms and software predict demand and connect buyers with exactly the inventory they need. They do this by considering the specific datasets:
- Product specifications.
- Quantity needed.
- Historical sales or purchases.
- And external factors like market trends and shipping difficulties, or conditions.
The entire process is quite simple when outlined. After all, it goes from real-time matching to automated recommendations. It could be the other way around.
– Real-time matching:
AI is able to scan surplus products and buyer needs to align them, then make recommendation that match them. These are based on SKU, shelf life, or niche requirements.
A good example of how this works is how Too Good To Go’s platform works. It helps grocery retailers identify near-expiry products and suggest optimal options. It suggests that the retailer apply dynamic discounts or bundle items for quick sale.
Other platforms are able to match customers with potential products based on their previous experiences.
– Predictive Demand Forecasting:
Several platforms use machine learning to forecast demand. This demand is specific to surplus categories and how many people are buying products.
Overstock electronics and seasonal goods are the ones that platforms tend to analyze and offer their forecast.
The entire system works in analyzing usage, data, and external signals can bring the surplus inventory to attention and adapt it to market needs.
– Automated Recommendations:
Once it has all the information regarding surplus goods, buyers, and sellers, it starts matching, but also recommending the best course of action.
For sellers, it will be key in deciding the next strategy:
- Should you create bundles?
- Maybe aim for discounted products to boost your sales?
- Or donate and redistribute a few items?
The idea is to guide you through maximizing value and minimizing waste, and connecting you with buyers for your surplus goods.
The Smart Connector Advantage
As a “smart connector,” our team at Coastal Surplus Solutions leverages these AI-driven tools to source niche inventory for clients across industries.
While AI can be simple to use, training is required. Platforms can be overwhelming when trying to find your surplus goods or when trying to sell them after acquiring them.
We want to make it easy, simple, and fast with the perfect mix of expertise and technology.
Here is what sets this approach and us apart:
- Speed and precision are guaranteed. Since guesswork is not needed, buyers and suppliers match easily with us. We move your request at unprecedented speed and reduce time-to-market for surplus goods.
- Customization is always there since we don’t work with general steps. Whether you are looking for a specific component or goods, the matching process helps us find it in no time.
- Proactive inventory management is amazing, as real-time data helps us bring insights and achieve cost reduction for you. This capitalizes on opportunities in the process.
How Does This Influence the Real World?
There are two main factors.
The Grocer’s report emphasizes how a retailer using AI-driven surplus matching can clear near-expiry inventory efficiently. As a result, they achieve cost and waste reduction while boosting margins.
Imagine the process:
- You are a surplus bulk buyer who needs to organize inventory and sell it.
- For this, you have to worry about their expiration, quality, and who will acquire your products. If they are not sold, what will you do?
- With AI-driven platforms, you reduce or eliminate these worries and focus more on what you have. Then, match accordingly so that you can clean inventory and connect with buyers.
The second factor to consider is waste and margins, and how inventory is particularly optimized.
Ensuring that the right products are available where and when they are needed drives more customers. This is possible when using predictive demand forecasting with AI.
How Coastal Surplus Solutions Makes It Work
Our role in the surplus market is supporting bulk buyers by connecting them to surplus goods.
With AI-powered integrations and practices, we aggregate data, apply predictive analytics, and deliver tailored recommendations.
The information AI drives in and offers to our process for connecting you with your goods is completed with our team’s expertise.
Feel free to contact us anytime and have your surplus goods in record time thanks to our smarter approach.
