277: Demystifying Inventory in Your Business

Joining me today is Ciara Stockeland. She is a fractional CFO focusing on inventory-based businesses. She has a podcast called Inventory Genius along with a book by the same name. She also has a new book called Profit Genius that is out soon. Today we're going to demystify inventory. All about inventory, how it works in your financials, why it's so important to find resources and people who understand it and how you can strategize around it.

Topics Mentioned:

• Inventory

• Resiliency

• Profitability

• Financials

Key Thoughts:

• Because every decision, every choice, everything that's sitting on that strategic plan, every product line that we bring in, it is all tied at some point in multiple places all the way down the chain. Michele Williams

• It's a hard skill, but learning how to edit in your business, how to slow down, that all comes from really understanding what the numbers mean so that you know what you should be focusing on. Ciara Stockeland

• I think that was a lesson for us too, that you can do it all right, and have things go wrong. There's not a direct cause and effect between right and wrong. But what could we have done differently? Michele Williams

• Every mess can be cleaned up, every problem can be solved. So even if they feel like it's all out of control, like, we can fix it, it might take some time and some money, but it can be fixed. Ciara Stockeland

Contact Michele:

• Email: [email protected]

• Facebook: Scarlet Thread Consulting

• Instagram: @ScarletThreadATL

• Website: ScarletThreadConsulting.com

• LinkedIn: Michele Williams

Contact Ciara:

• Email: [email protected]

• Instagram: https://www.instagram.com/inventorygenius/

• Instagram: @ciarastockeland

• Website: www.ciaraastockeland.com

• LinkedIn: @ciarastockeland

References and Resources:

• Work with Me

• Metrique Solutions

• The Designers' Inner Circle - Become a Member Today

• Understanding Your Financials course

• Inventory Genius podcast

• Inventory Genius by Ciara Stockeland

• Profit Genius by Ciara Stockeland

• Scarlet Thread Origin Story podcast