How To Optimize Inventory for Revenue and Profit, In 5 Steps

by Ryan Gunderson (8 April 2021)

Don’t you just love backorders? Of course you don’t. Nobody does. Even worse is when you’ve stocked out of the one product your customer wants, but you’re swimming in products that your customer doesn’t want. If you’ve lived it, you know what I’m talking about. So painful and frustrating for everyone!

What if I told you I helped a manufacturer increase their sales by 18% while reducing inventory by 12%? And that AI (artificial intelligence) helped me do it? I wouldn’t blame you for thinking that it was science-fiction.

But it’s not science-fiction. It’s process improvement, built on math, statistics, algorithms, machine learning, lean, and six sigma. This post summarizes five steps I utilize to increase sales and reduce inventory. I hope it will help you to consider whether the same is possible for your business.

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15 Free Resources Every Entrepreneur Should Know About

by Ryan Gunderson (22 March 2021)

You are passionate about helping people. You are intent on making a positive difference. The world needs more people like you. People like us.

People like us also need to run our organizations profitably, even if money is not what drives us. Why? Because unless we convert our “change the world” ideas into solutions that are successfully scaled, our impact will remain limited. My first startup, providing in-home care to the elderly, positively impacted clients, employees, and their families. But the reality is that I paid money for the privilege of serving and employing them, because our organization’s cash outflows exceeded our cash inflows. My first startup was an unintentional “non-profit” that was not financially sustainable, so I sold the business at a loss.

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