Secret Life of Inventory

Discover valuable career advice for aspiring supply chain professionals and explore best practices for demand forecasting! From industry expert and founder of MVC Logistics Academy, Professor Maria Rodriguez, who was also named one of the top Women in Supply Chain by Supply & Demand Chain Executive Magazine! She explains the importance of demand forecasting in inventory management and recommends tools and techniques to predict future demand accurately.

Don't miss this opportunity to elevate your supply chain career and master demand forecasting!

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0:00 - Teaser
0:11 - Intro
7:01 - 10 things to consider before working in supply chain management / logistics
17:09 - What is demand forecasting?
25:40 - Demand forecasting best practices
37:52 - Is AI being implemented into automation?
39:20 - Key takeaways to improve your supply chain career
43:26 - Outro

🎧 Listen to our Secret Life of Inventory podcast on Spotify:
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#inventory #inventorymanagement #inflow #inflowcloud #inflowinventory

Let's break down the fascinating world of consignment, including: the basics of consignment, how agreements work between sellers and consignors, and the benefits and drawbacks of using consignment for buying and selling.

Whether you're an entrepreneur looking to sell your products, a buyer seeking unique finds, or just curious about the process, this episode has something for everyone. Get ready to learn, laugh, and maybe even get inspired to try consignment yourself!

Don't forget to like, comment, and subscribe for more insightful episodes. Hit the notification bell to stay updated on our latest content!

0:00 - Teaser
0:10 - Intro
0:41 - What is consignment?
1:24 - What do people usually sell on consignment?
2:34 - What percentage do consignment shops take?
3:12 - What is a real-world example of consignment?
5:09 - What are the advantages of consignment for consignors (the suppliers)?
7:02 - What are the advantages of consignment for consignees (the retailers)?
8:14 - What are the disadvantages of consignment for consignors (the suppliers)?
12:44 - What are the disadvantages of consignment for consignees (the retailers)?
14:04 - What are some tips on mitigating consignment pitfalls?
17:04 - What are some emerging trends in the consignment industry?
20:41 - Key takeaways for consignment
21:55 - Outro

In this episode, we have a special guest, the Director of GS1 US, Jonathan Gregory! Join us as we explore the intricate world of supply chain logistics, discussing the importance of standardization, the future of barcodes/RFIDs, and advice for new businesses looking to adhere to industry standards.

Whether you're a seasoned logistics professional or simply interested in the inner workings of the supply chain, this episode promises valuable insights that can transform the way you perceive inventory management.

Be sure to subscribe to stay tuned for more!

0:00 Teaser
0:04 Intro
1:30 Who is GS1?
2:14 The importance of standardization in logistics/inventory management
3:40 Can you tell us about the GS1 forum?
6:01 Can you tell us about Sunrise 2027?
9:30 How have RFIDs impacted the logistics industry?
12:31 What emerging technologies can we expect to hear about in the future?
14:14 How has the logistics and inventory management community adopted AI?
17:08 How can businesses start implementing standard practices?
18:35 How does GS1 promote standardization?
20:17 What are the benefits of being GS1 compliant?
22:25 Do you have any advice for businesses looking to adhere to industry-standards?
23:10 Outro

Try inFlow to manage your inventory and make sure you never run out of stock:
https://www.inflowinventory.com/

Do you need a GS1 registered barcode? Check out the inFlow GTIN Barcode Shop: https://inflowinventory.com/gtin-barcodes

Listen to our podcast on other platforms:
https://secretlifeofinventory.buzzsprout.com/

About Secret Life of Inventory:
Welcome to the Secret Life of Inventory – a show where we delve deep into the unseen world of inventory management, revealing the hidden mysteries that help small businesses (like you) optimize their workflow and succeed!

The terms "wholesaler" and "distributor" are often confused and used interchangeably in the supply chain. Wondering about the real differences are between the two? In today's Secret Life of Inventory episode, we'll explore the fundamentals of a supply chain, the key differences between wholesalers vs. distributors, and practical tips on how you can find the right distributor. Comment below if you have any topics you'd like us to cover next, and be sure to subscribe and hit the bell for notifications to stay tuned for more!

0:00 Teaser
0:13 Intro
0:56 What is a supply chain?
2:24 Why do people do wholesale?
5:26 How are distributors different than wholesalers?
8:18 How to find the right distributor
11:11 The challenges of wholesale distribution
17:01 Outro

Try inFlow to manage your inventory and make sure you never run out of stock:
https://www.inflowinventory.com/

Listen to our podcast on other platforms:
https://secretlifeofinventory.buzzsprout.com/

About Secret Life of Inventory:
Welcome to the Secret Life of Inventory – a show where we delve deep into the unseen world of inventory management, revealing the hidden mysteries that help small businesses (like you) optimize their workflow and succeed!

Join us in this insightful episode as we dive deep into the world of barcoding and discover how you can create your own barcode system. Whether you're a small business owner looking to streamline inventory management or an enthusiast eager to learn more about the technology behind barcodes, this episode has something for everyone.

0:00 Teaser
0:13 Intro
1:24 What are barcodes?
2:40 How do barcodes work?
4:30 How do you create barcodes?
6:32 What are the pros and cons of creating your own barcodes?
9:59 The different types of barcode symbology
13:53 How much does it cost to start a barcode system?
17:42 What hardware do you need for barcode scanning and printing?
21:52 What should you consider before starting a barcode system?
22:53 Outro

Try inFlow to manage your inventory and make sure you never run out of stock:
https://www.inflowinventory.com/

In episode two, we share the fundamentals of mastering retail inventory management. Discover proven best practices and real-world case studies like why did Forever 21 go bankrupt? What happened to Kmart and Sears? And how does Walmart stay as one of the top retail giants?

Get ready to be educated and entertained with insights on inventory management. Subscribe to stay tuned for more!

0:00 – Teaser
0:10 – Intro
0:57 – What is Retail Inventory Management?
3:25 – Types of Retail Inventory
6:39 - What are the Benefits of Effective Retail Inventory Management?
10:31 - Best Practices for Business Owners
12:48 - Real-World Case Studies
12:57 - Forever 21: The Rise & Downfall
14:21 - Walmart vs. K-Mart: Price War in 1990s
16:30 - Why Sears 
18:09 - Walmart RFIDs: Radio Frequency Identification
18:55 - Uniqlo RFID Tags and Check-out System
19:49 - Decathalon RFID Check-out System
20:03 - Amazon Go RFIDs
20:35 - Outro

Try inFlow to manage your inventory and make sure you never run out of stock:
https://www.inflowinventory.com/

Are you a business owner in need of better inventory management? Well, we can help! In this episode, we're here to teach you the fundamentals of inventory management and common techniques used to effectively manage stock. From cutting costs to improving productivity, stay tuned to learn the best practices and how you can improve your workflow today!

0:00 - Intro
1:07 - Who are we?
2:14 - What is inventory management?
3:46 - Why is inventory management important?
6:10 - Different types of inventory techniques
6:36 - ABC analysis
7:50 - Batch tracking
8:40 - Bulk shipment
9:02 - Consignment
11:33 - Cross-docking
12:40 - Demand forecasting
13:39 - Dropshipping
15:22 - Economic order quantity
16:10 - FIFO (first in, first out)
17:26 - LIFO (last in, first out)
17:44 - Just in time
19:53 - Lean manufacturing/lean construction
21:36 - Material requirements planning (MRP)
22:11 - Minimum order quantity
22:44 - Reorder points 
24:09 - Safety stock
25:17 - Periodic vs. perpetual inventory management
26:01 - Cycle counts
27:26 - Perpetual inventory management
28:36 - Wrapping up
30:01 - Outro

Try inFlow to manage your inventory and make sure you never run out of stock:
https://www.inflowinventory.com/