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Inventory Management 101: How to Know When to Sell
**Outline: Podcast Episode #32 - Inventory Management**
**Introduction:**
- Host (Speaker 2) introduces the episode and the topic of inventory management.
- Mention of new setup and equipment, expressing gratitude to listeners for their support.
**DSM Sales Updates:**
- Speaker 1 (Jen) provides updates on recent eBay sales.
- Examples of items sold, including pie-shaped containers and Tupperware pieces.
- Discussion on pricing strategies and profit margins.
- Mention of seasonal items and the impact on sales.
**Discussion on Profit Margins:**
- Speaker 2 raises concerns about profit margins on certain Tupperware items.
- Discussion on the need to make a minimum profit to cover costs.
- Speaker 1 defends pricing decisions and explains the competitive pricing strategy.
**Highlights of Recent Sales:**
- Discussion on the popularity of Christmas-themed items.
- Mention of specific items sold, such as a cookie candy dish and a Santa sleeping Christmas mug.
- Speaker 1 shares experiences with finding free items and successfully selling them.
**Negotiation and Offers:**
- Speaker 2 discusses the challenge of buyers not paying immediately after making offers.
- Speaker 1 emphasizes the importance of being willing to negotiate, especially for items that have been in inventory for a while.
- Discussion on the balance between negotiating and maintaining reasonable profit margins.
**Transition to Main Topic: Inventory Management:**
- Speaker 2 introduces the main topic of the episode: inventory management.
- Acknowledgment of the subjectivity of inventory management based on space, inventory size, and cost.
**Inventory Management Tips:**
1. **Track Sales Data:**
- Speaker 1 emphasizes the importance of tracking sales data to make informed decisions.
- Mention of patterns and the impact of seasonality on sales.
2. **Evaluate Item Conditions:**
- Speaker 2 discusses the need to assess the condition of items.
- Example of a past mistake with a poorly conditioned Fisher-Price toy.
3. **Consider Seasonality:**
- Speaker 1 advises considering the seasonality of items, especially holiday-themed products.
- Discussion on refreshing listings for out-of-season items.
4. **Consider Cost of Storage:**
- Speaker 2 highlights the need to consider storage costs.
- Discussion on the impact of storage unit expenses and the inconvenience of off-site storage.
5. **Willingness to Negotiate:**
- Speaker 1 emphasizes being willing to negotiate, especially for items that have been in inventory for a while.
- Discussion on negotiation strategies and the importance of timing.
6. **Get Rid of Dead Weight:**
- Speaker 2 encourages sellers to let go of items that are unlikely to sell.
- Example of discarding an unwanted encyclopedia set.
**Conclusion:**
- Recap of key inventory management tips.
- Expressing the importance of adapting strategies based on individual circumstances.
- Speaker 2 teases the next episode or topic.
**Closing Remarks:**
- Speaker 2 thanks the audience for listening and invites feedback.
- Mention of the podcast's ongoing journey and growth.
- Outro music and podcast credits.
View all episodes
By Mike & Jen
4.7
2323 ratings
**Outline: Podcast Episode #32 - Inventory Management**
**Introduction:**
- Host (Speaker 2) introduces the episode and the topic of inventory management.
- Mention of new setup and equipment, expressing gratitude to listeners for their support.
**DSM Sales Updates:**
- Speaker 1 (Jen) provides updates on recent eBay sales.
- Examples of items sold, including pie-shaped containers and Tupperware pieces.
- Discussion on pricing strategies and profit margins.
- Mention of seasonal items and the impact on sales.
**Discussion on Profit Margins:**
- Speaker 2 raises concerns about profit margins on certain Tupperware items.
- Discussion on the need to make a minimum profit to cover costs.
- Speaker 1 defends pricing decisions and explains the competitive pricing strategy.
**Highlights of Recent Sales:**
- Discussion on the popularity of Christmas-themed items.
- Mention of specific items sold, such as a cookie candy dish and a Santa sleeping Christmas mug.
- Speaker 1 shares experiences with finding free items and successfully selling them.
**Negotiation and Offers:**
- Speaker 2 discusses the challenge of buyers not paying immediately after making offers.
- Speaker 1 emphasizes the importance of being willing to negotiate, especially for items that have been in inventory for a while.
- Discussion on the balance between negotiating and maintaining reasonable profit margins.
**Transition to Main Topic: Inventory Management:**
- Speaker 2 introduces the main topic of the episode: inventory management.
- Acknowledgment of the subjectivity of inventory management based on space, inventory size, and cost.
**Inventory Management Tips:**
1. **Track Sales Data:**
- Speaker 1 emphasizes the importance of tracking sales data to make informed decisions.
- Mention of patterns and the impact of seasonality on sales.
2. **Evaluate Item Conditions:**
- Speaker 2 discusses the need to assess the condition of items.
- Example of a past mistake with a poorly conditioned Fisher-Price toy.
3. **Consider Seasonality:**
- Speaker 1 advises considering the seasonality of items, especially holiday-themed products.
- Discussion on refreshing listings for out-of-season items.
4. **Consider Cost of Storage:**
- Speaker 2 highlights the need to consider storage costs.
- Discussion on the impact of storage unit expenses and the inconvenience of off-site storage.
5. **Willingness to Negotiate:**
- Speaker 1 emphasizes being willing to negotiate, especially for items that have been in inventory for a while.
- Discussion on negotiation strategies and the importance of timing.
6. **Get Rid of Dead Weight:**
- Speaker 2 encourages sellers to let go of items that are unlikely to sell.
- Example of discarding an unwanted encyclopedia set.
**Conclusion:**
- Recap of key inventory management tips.
- Expressing the importance of adapting strategies based on individual circumstances.
- Speaker 2 teases the next episode or topic.
**Closing Remarks:**
- Speaker 2 thanks the audience for listening and invites feedback.
- Mention of the podcast's ongoing journey and growth.
- Outro music and podcast credits.