A liquidation purchase starts consuming space and working capital as soon as it arrives. A receiving plan helps you identify what you have, separate stock that needs attention, and move suitable items into the right sales channel without losing track of costs.
Prepare the space before delivery
Set aside distinct areas for incoming stock, items awaiting checks, ready-to-sell merchandise, and goods that need repair or another disposition. Keep access routes clear and confirm the unloading equipment and staffing needed for the shipment. Follow appropriate safety procedures for handling heavy or unstable loads.
Create a lot record before the truck arrives. Attach the purchase invoice, manifest if supplied, delivery booking, and agreed condition and claims terms. Give the lot an identifier that will stay with its items as they move through your business.
Record what arrives before mixing it with existing stock
Check pallet or package counts against the delivery paperwork and record visible damage. Photograph relevant labels and packaging, and note any discrepancy using the carrier's and seller's reporting procedures. A receiving note documents an observation; it does not automatically establish a valid claim or extend a reporting deadline.
Keep the initial evidence organized. Follow the agreed inspection process and communicate issues promptly within the applicable terms.
Sort by readiness and next action
- Ready to list: identity and condition checked, with required information recorded.
- Needs preparation: cleaning, testing, measuring, or accessory checks still required.
- Needs a decision: incomplete, damaged, unsuitable, or uncertain stock awaiting assessment.
Assign responsibility and a review date to the second and third groups. Otherwise, apparently small exceptions can occupy shelves indefinitely. Handle items with safety concerns separately and follow relevant product, recall, and disposal requirements.
Use a small stock sheet consistently
Start with lot ID, item ID, description, condition, quantity, location, allocated cost, listing date, sales channel, and status. Add sale price and selling costs when the item sells. A consistent spreadsheet is more useful than a complicated system that staff do not update.
Choose a reasonable cost-allocation method and apply it consistently. Equal cost per item may suit a uniform lot; it can distort decisions in a highly mixed lot. Keep your method and assumptions visible.
Review movement rather than just listing activity
At regular checkpoints, compare units sold with units available for sale. For example, selling 30 of 100 saleable units represents 30% unit sell-through for that group. Also track the cash collected and the time spent preparing stock; unit movement alone does not measure profit.
Give slow-moving goods a defined next step: improve the listing, review the price, choose a more suitable channel, bundle accurately described items, or assess another disposition. Use the results from each lot to set a better buying limit for the next one.