Inventory Management & Supply Chain Profitability with Co-Founder of SoStocked - Chelsea Cohen
Firing The Man · with Chelsea Cohen · June 6, 2022 · 46 min
Summary
This episode features Chelsea Cohen, co-founder of SoStocked, who shares critical insights on inventory management and supply chain profitability for Amazon sellers. She highlights common pitfalls like poor systems, order procrastination, and misalignment between marketing and inventory planning. The discussion also covers strategies for navigating Amazon’s evolving inventory restrictions and leveraging data for better decision-making to avoid stockouts and optimize profitability.
Key takeaways
Implement a robust inventory management system beyond spreadsheets to avoid 'order procrastination' and ensure data accuracy, crucial for scaling and team collaboration.
Align marketing plans with inventory strategies to prevent stockouts, especially when launching promotions or new products.
Track lead times meticulously and avoid assumptions; inaccurate lead time estimates can severely impact inventory planning and profitability.
Prioritize restocking high-sell-through-rate items, particularly during Amazon FBA storage limitations, to maximize sell-through and IPI scores.
Understand that Amazon optimizes for its own profitability; adapt to their policies like restock limits by focusing on efficient inventory turns rather than simply storing large quantities.
Chelsea Cohen is the Co-Founder of SoStocked, a fully customizable Amazon Inventory Management, and Forecasting Software. She started as an Amazon Seller in 2014 and has been featured on stages and podcasts all around the world, teaching people how to solve their inventory management problems. In this episode, Chelsea takes a deep dive into the importance of inventory management and its crucial impact on profitability and business growth. Passionate at optimizing logistics and ca...
What does this episode say about supply chain & operations?
Implement a robust inventory management system beyond spreadsheets to avoid 'order procrastination' and ensure data accuracy, crucial for scaling and team collaboration.
What does this episode say about amazon & marketplaces?
Align marketing plans with inventory strategies to prevent stockouts, especially when launching promotions or new products.
What does this episode say about ai & automation?
Track lead times meticulously and avoid assumptions; inaccurate lead time estimates can severely impact inventory planning and profitability.
What does this episode say about founder & leadership?
Prioritize restocking high-sell-through-rate items, particularly during Amazon FBA storage limitations, to maximize sell-through and IPI scores.
What does this episode say about supply chain & operations?
Understand that Amazon optimizes for its own profitability; adapt to their policies like restock limits by focusing on efficient inventory turns rather than simply storing large quantities.
