Podcast

43: Optimize Your Cash Flow And Make More Profit With Automated Inventory Forecasting


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 Overview Video

80/20 Rule

source: Investopedia

Tweetable Gold Nuggets

Optimize your cash flow and time with an inventory forecast based on sales trends, vendor lead time, and targeted stock levels.Click To 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.Click To 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.Click To Tweet

Thank You For Listening

I really appreciate you choosing to listen to the show and for supporting the podcast. If you enjoyed today’s show, please share it using the social media buttons on this page.

I would also be so grateful if you would consider taking a minute or two to leave an honest review and rating for the show in iTunes. They’re extremely helpful when it comes to reaching our audience and I read each and every one personally!

Finally, don’t forget to subscribe to the podcast on iTunes, Stitcher, or Spotify. All it would take is a new idea, Shopify app, or marketing tactic to be the next thing you need to drive more revenue and lifetime loyalty for your Shopify store. I don’t want you to miss any episodes!

Growth Mindset?  Never Miss An Episode!

Get Instant Notification By Subscribing Below

Thanks for being a supporter and loyal listener... I'll see you in the next episode!

Episode Sponsor


This episode was brought to you by Omnisend, makers of sophisticated omnichannel marketing automation tools for sales-driven Shopify brands that have outgrown generic email marketing platforms. Engage your customers and boost your sales with dynamic emails, text messages, web push notifications, Facebook Messenger, and retargeting ads on Facebook and Google – all from one platform.

Try Omnisend for free for 14 days. Check them out at Omnisend.com and use the code “fastlane” when you signup to get an extra 50% off for the first 3 months.

About the author

Steve Hutt

Obsessed with ecommerce, entrepreneurship, and Shopify. If you have the desire to learn and implement what's working today for Shopify brands, I'm excited you're here! This industry blog and podcast is my digital brain where my guests and I share cutting-edge marketing strategy, must have Shopify apps, and marketing platforms that will help you grow and scale. To do this, I'm on the Merchant Success Team at Shopify Plus and host of the eCommerce Fastlane Podcast.