This episode provides actionable strategies for Shopify store owners to optimize their inventory management for peak seasons and beyond. By focusing on data-driven decisions, supplier relationships, and strategic planning, businesses can minimize stockouts, improve cash flow, and enhance customer satisfaction.
Key takeaways
Implement data-driven inventory management by leveraging metrics like sales velocity to inform purchasing decisions and reduce guesswork.
Strengthen supplier relationships through regular communication to negotiate better terms, secure bulk discounts, and ensure product availability during high-demand periods.
Proactively plan for post-peak sales lulls by forecasting Q1 inventory needs and utilizing back-order and pre-order options to maintain cash flow and customer engagement.
Develop strategies for managing dead stock by implementing discount tactics, bundling products, or offering them as “free with purchase” to free up capital and warehouse space.
Adopt a year-round forecasting approach, planning six months to a year in advance to anticipate trends, secure supplier commitments, and budget effectively for long-term success.
This week we are joined by EJ Ekhato from Inventory Planner to share insights on how to prep your inventory for peak!EJ & Nick discuss;- Optimising your inventory purchasing- Stop guessing inventory & start using data- Want to increase your profit? Talk to your vendors!- Inventory strategies for PEAK- Getting sales without having any stock- How to plan for post-peak & how to put your plan into motionJoin the bootcamp and elevate your inventory game: https://info.brightpearl.com/winning-with-shopify-holiday-planning-bootcampSign up to the Growth Hub here: https://wwspodcast.com/pages/the-growth-hub Key takeaways:0:00 Introduction & About EJ4:05 The Missed Opportunity On The Lead Up To Peak6:24 Building Good Relationships with Your Inventory Venders & Team14:23 Why You Can’t Be Sitting On Dead Stock!18:04 Keeping Well Stocked During The Peak Season28:20 What To Do If You Run Out Of Stock During Peak32:10 Secure Your Space In The Line36:19 How To Continue Thriving In January40:13 How Far in Advance Are Companies Planning for the Peak Season?Check out our other awesome partners!Book your FREE Influencer Marketing demo session with Afluencer here! https://afluencer.com/wws/ To learn more or claim your free customer analysis and strategy session, visit seguno.com/winningwithshopifySupport the show
What does this episode say about shopify & ecommerce platforms?
Implement data-driven inventory management by leveraging metrics like sales velocity to inform purchasing decisions and reduce guesswork.
What does this episode say about supply chain & operations?
Strengthen supplier relationships through regular communication to negotiate better terms, secure bulk discounts, and ensure product availability during high-demand periods.
What does this episode say about brand & content?
Proactively plan for post-peak sales lulls by forecasting Q1 inventory needs and utilizing back-order and pre-order options to maintain cash flow and customer engagement.
What does this episode say about customer retention?
Develop strategies for managing dead stock by implementing discount tactics, bundling products, or offering them as “free with purchase” to free up capital and warehouse space.
What does this episode say about shopify & ecommerce platforms?
Adopt a year-round forecasting approach, planning six months to a year in advance to anticipate trends, secure supplier commitments, and budget effectively for long-term success.
