On today’s episode, I’m chatting with Jill Liliedahl, Business Development Manager from Inventory Planner. It’s an incredible time and money optimizing solution that puts you in charge of your inventory. Sales forecasting does sound sexy but it helps to anticipate your customer demand and it’s a way to see what trends are happening in your business to pivot into more profit.
You can view all of your sales trends and inventory needs in one place. Control what products to replenish at each warehouse and for all sales channels and marketplaces. Powerful insights put you in control of your inventory. It even helps you to identify overstock to help you free up needed cash by clearing out stock that is not moving.
The Inventory Planner platform will allow you to take the necessary time to review your store's inventory data, compare product lines, brands, and suppliers to see financial trends in your business.
What You Will Learn Today…
- How sales forecasting can help your Shopify business
- What makes a good forecast
- Learn how to handle forecasting for multiple sales channels or locations
- How seasonality can affect sales forecasting
- Considerations when dealing with several different suppliers
- How the 80/20 rule applies to inventory planning and demand
Links And Resources Mentioned In This Episode
- Inventory Planner
- Inventory Planner Shopify App
- Ultimate Guide To Inventory Planning
- MVMT Watches Case Study
- Sales Forecasting For Shopify Brands
Inventory Planner Overview Video
Tweetable Gold Nuggets
[click_to_tweet tweet=”Optimize your cash flow and time with an inventory forecast based on sales trends, vendor lead time, and targeted stock levels.” quote=”Optimize your cash flow and time with an inventory forecast based on sales trends, vendor lead time, and targeted stock levels.”]
[click_to_tweet tweet=”When using the correct data and dynamic forecasting methods, you set yourself up for success to make the very best decisions possible for your Shopify brand.” quote=”When using the correct data and dynamic forecasting methods, you set yourself up for success to make the very best decisions possible for your Shopify brand.”]
[click_to_tweet tweet=”Sales forecasting is the key to controlling your cash flow. Sales forecasting uses sales history and information about your products and business (like seasonality or upcoming promotions), sales forecasting anticipates customer demand.” quote=”Sales forecasting is the key to controlling your cash flow. Sales forecasting uses sales history and information about your products and business (like seasonality or upcoming promotions), sales forecasting anticipates customer demand.”]
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