Avoiding Stock-outs and Forecasting Inventory - Chelsea Cohen - Amazon Legends - Episode #237

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:Apple PodcastiHeart RadioSpotifyGoogle PodcastYouTubeAmazon Legends is sponsored by Argometrix, the authority on, and a leading supplier of, competitive intelligence for online retail. To learn more, head over to https://argometrix.com/

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