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The Founders ForumAuthor: Andrew Foxwell
A podcast where entrepreneurs and innovators come to learn from one another. The Founders Forum is Hosted by Edwin Hermawan, Owner of Snappic and Tristram Dyer, CEO of Webtopia. Together they meet with entrepreneurs and innovators from with in the Foxwell Founders Membership to share on trending topics and ideas that are moving the e-commerce and media buying community forward. Language: en Genres: Business, Entrepreneurship, Marketing Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Founders Forum: Managing Inventory For Your 7-8 Figure DTC Brand.
Episode 7
Tuesday, 23 April, 2024
Jenni-Lyn, the owner of a Snarky Tea, joins Edwin and Tristram to discuss her experience managing the supply chain and inventory for her business. She shares insights on sourcing suppliers, building relationships, and dealing with difficult partners(she landed a deal on Shark Tank). She emphasizes the importance of inventory management as a strategic differentiator and explains how her company creates excitement by offering limited edition products. She even walks through her strategy for these new product drops. She also shares the value of building a community of superfans and creating a safe space for customers. Key Takeaways: How building strong relationships with suppliers is crucial for a successful supply chain. How her willingness to take on different roles helped her overcome challenges in the business and improved efficiency. Why inventory management can be a strategic differentiator, allowing businesses to create excitement and cater to specific customer preferences. How limited edition products can generate excitement and loyalty among customers. The importance of balancing new customer acquisition with serving existing customers for long-term success. When to accurately use product drops and revenue generation events to maintain cash flow and drive sales. Why AI can be a useful tool in certain areas, but can lack the human experience that is essential for branding. The one thing Jenni-lyn leaned into to create simplicity with her inventory management. To learn more about Jenni-lyn and Snarky Tea you can follow her here If you'd like to learn more about the Founders Community or want to become a member you can do so here.
