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.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 businessWhat makes a good forecastLearn how to handle forecasting for multiple sales channels or locationsHow seasonality can affect sales forecastingConsiderations when dealing with several different suppliersHow the 80-20 rule applies to inventory planning and demand Links And Resources Mentioned In This EpisodeInventory PlannerInventory Planner Shopify AppSitStayUltimate Guide To Inventory PlanningMVMT Watches Case StudyThank You For ListeningI 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 everyone personally!Finally, don’t forget to subscribe to the podcast on iTunes, Stitcher, or Spotify. All it could take is a new idea, Shopify app, or marketing tactic to be the next big thing you need to drive more traffic, revenue, and lifetime loyalty for your Shopify store.^^ GROW & SCALE YOUR SHOPIFY BRAND BY SUBSCRIBING ABOVE ^^Episode SponsorThis 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. Hosted on Acast. See acast.com/privacy for more information.