The guest on today’s episode is Chelsea Cohen. She is an Amazon inventory management expert and the co-founder & CEO of SoStocked.com, an Amazon inventory management software. Chelsea’s also an Amazon seller, speaker & consultant. Her regular clients include 7 & 8-figure sellers. She has been featured on AM/PM Podcast, 7-Figure Sellers Summit, Seller Events & the Prosper Show & Amazing Summit stages, among others.SoStocked is fully customizable and fully understandable so that you can trust the numbers, fine-tune your forecasts, and finally ditch your spreadsheets. In today’s episode, she discusses avoiding stock-outs and forecasting inventory.
Takeaways:
- Min-max restocking involves setting minimum and maximum inventory levels and always staying within that range.
- The ideal inventory turnover for Amazon sellers is typically between 30 to 60 days.
- Maintaining a good inventory level is important for factors like maintaining high IPI (Inventory Performance Index) scores, avoiding high storage rates, and maintaining a good sell-through rate.
- Geo ranking is a factor that considers inventory dispersion throughout the country. Having enough inventory is important to maintain good rankings and supply two-day prime delivery.
- It's advisable not to go below a 30-day minimum inventory level to account for potential issues with Amazon's inventory checking and to avoid negative effects on geo ranking.
- Examining the size and weight of products is essential for reducing fees. Understanding Amazon's fee structure, including dimensional weight, can help optimize packaging and reduce expenses.
- Packaging plays a crucial role in creating the perception of luxury and value for a product. Elaborate and unique packaging can enhance the perceived worth of a product.
Quote of the Show:By adding an additional sales increase as a percentage to your projections for a group of SKUs for a PPC campaign you plan to run, coupon codes or lightning deals, you can be prepared to be in stock at all times.
Links:
- Connect with Chelsea Cohen: https://www.sostocked.com/connect
- Website: https://www.sostocked.com/
- Facebook: https://www.facebook.com/SoStocked
- YouTube: https://www.youtube.com/channel/UCPcFflXM9NHbeXMIOpaexfA
- Instagram: https://www.instagram.com/sostocked/
- LinkedIn: https://www.linkedin.com/company/64989371/
Ways to tune in:
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