Turning Overstock into Opportunity: Smart Inventory Management Tactics → Axel Bukowski
On today’s episode, Kunle is joined by Axel Bukowski, Co-Founder & CEO of Madden Analytics, a tool that creates a systematic inventory for brands to provide data for better business decision-making. Axel Bukowski found his interest in the eCommerce industry around 2010. He started his optical brand in Stockholm, Sweden in 2013 and has grown successful since. With his co-founder, Petter, they built Madden Analytics as a solution to the inventory pains of the optical brand which also became a successful venture. Axel and Petter are now focused on helping other eCommerce businesses with their analytics needs. Madden Analytics can be used by any brand in any industry but works perfectly for fashion brands, which face challenges in efficient inventory. Fashion brands can manage their inventory better by providing them with real-time insights into customer demand, inventory levels, and pricing. This helps them make better decisions and optimize their operations. It’s an insightful episode as you’d hear Kunle and Axel talk more about product inventory, the fashion industry, the trend of product demand, nearshoring, and solutions to inventory and forecasting problems.--- SPONSORS: This episode is brought to you by: Treyd The 2X eCommerce Podcast is sponsored by Treyd, a revolutionary financing service transforming product launches for eCommerce brands. As the ultimate inventory purchasing solution, Treyd lets you sell first, pay suppliers later. Treyd's unsecured funding and credit model improves cash flow, supports larger orders, and even helps negotiate supplier discounts. With a transparent, pay-as-you-go model, Treyd offers unmatched flexibility and minimal onboarding, independent of eCommerce platforms. Experience the power of "Sell first, pay suppliers later" and snooze invoices for up to 120 days. Transform your business with Treyd today on Treyd.io. Shopify If you have been following my journey here on this podcast, you'll know that I am a Co-founder at Octillion, a consolidator of digital-first good-for-you CPG brands. We acquire brands with a view to scaling them up. We currently have a portfolio of three brands all powered by the commerce platform Shopify. Shopify is the global commerce platform that helps you sell at every stage of your business. From the “launch-your-online-store” stage to the “first-real-life-store” stage all the way to, “did-we-just-hit-a-million-orders-stage,” Shopify is there to help you grow. Whether you're selling scented soap or offering outdoor outfits, Shopify helps you sell everywhere from their all-in-one eCommerce platform to their in-person POS system. Wherever and whatever you're selling, Shopify has got you covered. Shopify helps you turn browsers into buyers with the internet's best converting checkouts, which is a whooping 36% better on average compared to other leading commerce platforms. You'll also sell more with less effort thanks to Shopify Magic, your AI-powered all-star. I remember the first brand we acquired was running on another platform with quite poor conversions. We made it a point of duty to get it migrated over to Shopify and our checkout conversions doubled. What I love about Shopify is its ease of use. I don't think there are any other eCommerce platforms that beat its usability. Shopify powers 10% of all eCommerce in the US. Shopify is truly a global force powering Allbirds, Rothy’s, Brooklinen, and millions of other entrepreneurs of every size across 170 countries. Plus, Shopify's award-winning 24/7 help is there to support your success every step of the way because businesses that grow, grow with Shopify. Sign up for a $1 per month trial period at Shopify.com/ecommercex2. Go to Shopify.com/ecommercex2 to take your business to the next level today.