Exploring Inventory Management with The Million Dollar Question: What Would You Rather Do With $100?
Amid the bustling exhibits at The Natural Foods Expo East, re:COGs, host Mike Gelb spoke with food brands for a provocative roundtable, posing the following question on the trade show floor: “Would you rather have $100 in inventory or $100 in cash?”
Priming the Room with a Pivotal Question: Stacks of Bills or Stacks of Stock?
For the latest episode of the re:COGs podcast, our team ventured out to Natural Products Expo East in Philadelphia to talk to buyers, brands, and investors across the natural products industry and get their perspectives on inventory management. The inventory vs. cash scenario was posed to rising food brands including Drumroll Snacks, Amazi Foods, PKN Snacks, Deepster502, and Snood’s. Their divided gut reactions hold intriguing insights and valuable lessons! Tune in to hear various perspectives regarding the often misunderstood asset that holds both monetary and operational implications, and learn whether these agile entrepreneurs favor stacks of bills or stacks of stock. Their answers may surprise you!
Navigating the Nuances of Managing Inventory
Inventory often assumes the dual role of an asset on paper and a liability in practice, making it the most misunderstood financial asset in business. Mike explores the art of inventory management with exhibitors and dives into surrounding inventory topics like turnover rates, meeting demand spikes, and negotiating supplier terms. Their exchange illuminated challenges like stale stock and advantages like bulk purchase discounts. Key takeaways included aligning planning with forecasts and managing growth amidst uncertainty.
Listen to Uncover the $100 Answers
The art of valuing inventory involves mitigating its risks while tapping into its profit potential. You won’t want to miss this eye-opening discussion that offers valuable insights into inventory decisions. Listen in to discover how seasoned founders approach their inventory strategies as they build brands and drive growth.
Listen In:
The founders of Drumroll Snacks, Amazi, PKN Snacks, Deepster502, Snood’s Discuss:
- Brand stories and perspectives on $100 COGs vs. cash question
- Importance of inventory management and role of inventory in business
- Inventory vs. cash – which is more valuable for a business?
- Converting inventory into cash through sales and revenue generation
- Aligning inventory planning with sales forecasts and growth projections
- Understanding product value and consumer demand to optimize stock levels
- Remaining nimble to swiftly convert inventory into cash when needed
- Focus, adaptability, and cash flow enable brands to flourish
About Drumroll Snacks: Drumroll Snacks offers plant-based donuts that are grain-free, low in sugar, and only 190 calories per donut. Their donuts are made for the people and are available for purchase on their website.
About Amazi Foods: Amazi Foods offers a variety of snacks made from sustainably sourced ingredients. Their products include plantain chips, jackfruit chews, and cassava crisps. While some customers find their products to be expensive, they are known for their quality and commitment to a good cause
About PKN Snacks: PKN Snacks offers pecan milk as a sugar-free, plant-based milk alternative. Their milk is low in sugar and makes for a great smoothie mix. Customers rave about its rich, flavorful taste and its guilt-free nutritional value.
About Deepster502: Gourmet salsas, sauces, and paste products made from the freshest ingredients, designed to deliver an international taste sensation. Products include heat-forward seasonings and chili peppers that are perfect for adventurous spice enthusiasts.
About Snood’s: Snoods offers a variety of plant-based snacks, including puffs and chips made from ingredients like chickpeas and lentils. Their snacks are gluten-free, vegan, and non-GMO. Customers can purchase their products on their website.
Click Here for re:CASTs of the Entire re:COGs Series
Tune in for authentic conversations with founders and experts across CPG, food, fashion, and other industries and discover insights you can apply to tackle your own business challenges as you scale up operations.
ARE YOU A BRAND MERCHANT LOOKING TO GROW YOUR BUSINESS?
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