The holidays are in full swing and products are flying off the shelves.

But have you thought about your inventory strategies for next year?

Here are a few ways to manage your inventory in the new year:

Be careful with end-of-year purchases

“The holidays are almost here, which means that unless you are looking at egregious holes in your assortment, sell what you have,” advised Ted Hurlbut, principal at Hurlbut & Associates, a business management consultancy in Foxborough, Mass. “At this point, anything that you bring in will sell in place of something you already own. Then, you will have to go through the clearance process on what you already own.

“One of the real margin killers during this time of year is bringing in last minute purchases.”