eCommerce Fastlane Podcast

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

EP43 InventoryPlanner


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

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Episode Sponsor

OMNISEND logo 432 x 80
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

Steve has entrepreneurship in his DNA, starting in the early days of online commerce when he achieved Power Seller status through his eBay store. This propelled him to become a co-founder of VisionPros.com, a contact lens and eyewear retailer. With a successful exit from his startup, he embarked on his next journey into agency work in e-commerce and digital strategy.

Currently, Steve is a Senior Merchant Success Manager at Shopify Plus, where he helps identify, navigate, and accelerate growth in the complex world of commerce.

To maintain his competitive edge, Steve also hosts the eCommerce Fastlane Podcast and Shopify Founder Stories, a top-rated twice-weekly podcast where he interviews Shopify Partners and subject matter experts who share the latest marketing strategy, tactics, platforms, and must-have apps, to help Shopify brands improve efficiencies, grow revenue, profit, and lifetime customer loyalty.

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