😎 Increase Your Margins with Effective Inventory Management

This week on the DTC Podcast, we’re diving into a topic that's critical for every ecommerce brand: inventory management and replenishment. 

We chatted with Pauline Shiu from Finale Inventory about how businesses can streamline their inventory management systems to avoid common pitfalls like overstocking, stockouts, and other issues that can impact the bottom line

Whether you're a small startup or looking to scale, you'll find plenty of insights here. On with the show: 👇

📦 Streamline Your Inventory Management

Managing inventory can be a daunting task. 

Pauline Shiu from Finale Inventory emphasizes the importance of real-time inventory data to keep up with consumer demand and replenishment to maintain sales momentum. If your inventory system can't move as fast as your customers, you risk falling behind your competition.

Finale Inventory was created to help ecom sellers manage their inventory more effectively. The platform provides real-time visibility into your stock levels, helping you avoid overselling and overstocking. It integrates seamlessly with various sales channels, giving you a comprehensive view of your inventory at all times.

💡 Key Pain Points and Solutions

Pauline highlights common pain points that brands experience when managing inventory: ordering the wrong items, overselling, and inefficiencies in warehouse operations. Finale Inventory helps address these issues by providing insights into what products to reorder and when, ensuring your team has the right information to operate efficiently.

Have you ever run an ad campaign only to find out that the promoted items are out of stock? 🙃 This is a common problem that can be avoided with better inventory management. Finale Inventory allows all teams, including marketing and warehouse staff, to have access to the same real-time data, ensuring everyone is on the same page.

If you’re not keeping a close eye on these KPIs, it’s time to start — cost of goods sold (COGS), sales velocity, and warehouse efficiency. By keeping an eye on these metrics, brands can make informed decisions about inventory levels, promotional strategies, and operational efficiency.

📈 From $650k to $65M

Pauline shares an example of a brand that came to Finale Inventory with scattered inventory management and grew from $650,000 to $65M in annual revenue after implementing Finale's solutions. Their key to success? Having a scalable system that provided real-time visibility that automates replenishment and helped streamline their operations across multiple sales channels.

Finale Inventory's ease of use and quick integration process make it an attractive option for brands looking to improve their inventory management without the high costs and complexity associated with traditional ERP systems.

🌟 Final(e 😉) Thoughts

As you prepare for the upcoming Q4 rush, having a robust inventory management system in place is crucial. If you want to know how to stay ahead of the inventory management curve to set yourself up for busy-season success…

Listen To The Full Podcast Here