Secret Life of Inventory

inFlow Inventory
  • 5.0 (3)
  • Management
  • Updated Monthly

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! © Created by inFlow Inventory. 

  1. Sep 1

    What's the Best Inventory Costing Method for Your Business? (FIFO, LIFO vs. Moving Average)

    If you sell physical products, your inventory isn't just stock sitting on a shelf—it's a major asset that directly impacts your profits, taxes, and financial reporting. In this episode of The Secret Life of Inventory, we break down inventory valuation methods in simple terms. You'll learn the difference between price and cost, how Cost of Goods Sold (COGS) works, and why choosing the right inventory costing method can have a big impact on your business. We cover the three most common inventory costing methods: → FIFO (First-In, First-Out) → LIFO (Last-In, First-Out) → Moving Average Cost Plus, we explain the differences between IFRS and GAAP accounting standards, discuss which industries benefit most from each costing method, and share practical advice for choosing the right approach for your business. Whether you're managing inventory in spreadsheets, evaluating inventory software, or trying to better understand your financial statements, this episode will help you connect inventory operations with accounting fundamentals. Podcast Produced by: inFlow Inventory Hosted by: Jared Plumb & Melinda Tse 📖 Read our blog to learn more: → Inventory Valuation Methods: https://www.inflowinventory.com/blog/inventory-valuation-methods-costing → FIFO vs. LIFO: https://www.inflowinventory.com/blog/fifo-vs-lifo/ → Moving Average: https://www.inflowinventory.com/blog/moving-average-formula-for-calculating-cost → Inventory Accounting: https://www.inflowinventory.com/blog/inventory-accounting 0:00 - Teaser 0:26 - Intro 1:37 - What is inventory valuation? 2:17 - Difference between price and cost 3:55 - Why does the inventory costing method matter? 4:26 - What is cost of goods sold? (COGS) 5:55 - FIFO explained 6:40 - Example of FIFO 8:04 - Best industries for FIFO 8:47 - LIFO explained 10:02 - Why doesn''t everyone use LIFO? 10:37 - IFRS and GAAP explained 11:12 - Best industries for LIFO 12:04 - Moving Average explained 14:26 - Moving Average vs. Weighted Average 15:34 - Downsides of Moving Average 17:04 - How do you know which costing method is best? 18:56 - At what point do spreadsheets start holding you back? 20:01 - Inventory management vs. inventory accounting 21:44 - What to look for in inventory and accounting software 22:55 - Best practices for inventory accounting 24:30 - Outro ✅ Try inFlow Inventory for free and never run out of stock: https://www.inflowinventory.com/ 🎧 Stream our Secret Life of Inventory podcast: https://youtube.com/playlist?list=PLZPdD9vxalF-TD_uxHmFsPkP5638NrU8-&si=7YIruVL0daUgxCBt 🎙️ Visit our website for show notes: https://www.secretlifeofinventory.com/ 👀 Have an interesting inventory story or business? Apply to be a podcast guest: https://www.secretlifeofinventory.com/apply-to-be-our-guest/ #secretlifeofinventory #inventory #inventorymanagement #inflow #inflowinventory #inventorymanagement #inventoryaccounting #fifo #lifo #cogs #inventoryvaluation #accountingbasics #smallbusiness #supplychain #inventorysoftware

  2. Aug 4

    How to Optimize Your Warehouse Efficiency: People, Space & Software (ft. Adrian Betts)

    When warehouse operations start to feel chaotic, most businesses jump to the same solutions: hire more people, move to a bigger space, or buy new software. But according to Adrian Betts, Founder of Xpandur, the solution lies in something deeper—the process. In this episode, we sit down with Adrian Betts to explore how growing businesses can diagnose what's actually slowing their warehouse down before rushing to add resources. Drawing on his experience at UPS, FedEx, Target, Nike, Walmart, and Amazon, Adrian breaks down why space problems are almost always flow problems in disguise, what he looks for in the first 20 minutes on a warehouse floor, and how poor slotting quietly drains throughput in operations of every size. Process gaps, broken flow, and misaligned layouts can cost warehouses far more than a new hire or a bigger building ever could. But with the right diagnosis, most operations can unlock significantly more capacity from what they already have—without adding headcount or signing a new lease. Whether you're managing a small stockroom or overseeing a growing distribution center, this episode is practical, no-fluff, and full of ideas you can bring back to your team the next day. ⬇️ Follow Adrian! LinkedIn: https://www.linkedin.com/in/adrian-betts/ Book a consultation: https://xpandur.com/ ✅ Try inFlow Inventory for free and never run out of stock: https://www.inflowinventory.com/ 00:00 – Teaser 00:13 – Intro 01:33 – Adrian's backstory  02:57 – Lessons learned from large-scale operations 04:00 – What lessons don't transfer 04:39 – The real problem behind a messy warehouse 05:43 – What a process problem looks like 07:02 – Early warning signs of deeper operational issues 08:08 – The 20-minute warehouse walkthrough 09:12 – Blind spots  10:20 – Advice to a busy founder 11:45 – The difference between a process vs. people problem 13:17 – What does poor space utilization look like? 14:30 – Real story of maximizing an existing space 16:17 – What to consider before implementing inventory software 17:51 – Must-have inventory software features 19:46 – Slotting explained 20:51 – How to decide where inventory belongs 21:46 – How to conduct a quick warehouse slotting audit 22:59 – Warehouse layout considerations 24:24 – Preparing for peak season  25:55 – Where warehouses quietly lose time 27:25 – How to get employee buy-in for change 29:41 – The most important habit to build  30:53 – People, space, or software: What to prioritize first? 33:12 – Signals it’s time to expand  34:19 – How to identify your own hidden inefficiencies 35:35 – The top 2-3 warehouse KPIs to track 37:22 – Metrics to obsess over and metrics to ignore 39:22 – Where to start formalizing warehouse operations 40:50 – Outro 🎧 Stream our Secret Life of Inventory podcast: https://youtube.com/playlist?list=PLZPdD9vxalF-TD_uxHmFsPkP5638NrU8-&si=7YIruVL0daUgxCBt 🎙️ Visit our website for show notes: https://www.secretlifeofinventory.com/ Stay connected: https://www.facebook.com/inFlowInventory/ https://www.linkedin.com/showcase/5276148/admin/feed/inflowinventory https://www.instagram.com/inflow.inventory/ https://www.tiktok.com/@inflowinventory https://twitter.com/inflowinventory #inventory #inventorymanagement #inflow #inflowinventory #warehousemanagement #supplychain #xpandur #adrianbetts

  3. Jul 7

    Humanoid Robots Are Here. Is Your Warehouse Ready? (ft. David Kilzer)

    Humanoid robots are no longer science fiction—they're already entering warehouses. But before businesses rush to automate, are they actually ready? In this episode, we sit down with David Kilzer to explore the realities of warehouse automation, common mistakes in technology adoption, and what it takes to prepare for the next wave of robotics. He introduces the Human Readiness Quotient (HRQ), a simple 1–10 framework to assess whether an organization is truly ready for automation success. Whether you're running a small warehouse or scaling a complex operation, this conversation offers a grounded look at how automation, robotics, and warehouse strategy are evolving. Subscribe for more conversations on inventory, warehousing, operations, and supply chain strategy! Follow David: ➡️ LinkedIn: https://www.linkedin.com/in/david-kilzer-3964688/ ➡️ Book a consultation: https://www.xform.me/ 0:00 – Teaser 0:12 – Introduction 1:36 – The automation landscape and common pitfalls 5:56 – David Kilzer's background 11:10 – The automation trap 12:59 – Real-world automation failures 15:33 – Prerequisites for automation success 17:19 – How human roles are evolving 21:18 – When humanoid robots will arrive 27:40 – Humanoid robots vs. fixed automation 30:27 – The risks of rigid systems 32:50 – Where humanoid robots don't make sense 34:23 – Automation strategies for smaller budgets 37:02 – Why leadership underestimates the shift 38:29 – Introducing Human Readiness Quotient (HRQ) 39:30 – The core dimensions of HRQ 44:11 – The HRQ evaluation process 47:53 - HRQ cautioning a business to slow down 49:27 - How the HRQ mitigates automation traps 51:03 – Industries best suited for HRQ 52:08 – How to run a quick HRQ assessment 55:57 – The future of hybrid warehouses 1:00:05 – Virtuous cycle of adoption 1:02:41 – Closing thoughts ✅ Try inFlow Inventory for free and never run out of stock: https://www.inflowinventory.com/ 🎧 Stream our Secret Life of Inventory podcast: https://youtube.com/playlist?list=PLZPdD9vxalF-TD_uxHmFsPkP5638NrU8-&si=7YIruVL0daUgxCBt 🎙️ Visit our website for show notes: https://www.secretlifeofinventory.com/ Stay connected: https://www.facebook.com/inFlowInventory/ https://www.linkedin.com/showcase/5276148/admin/feed/inflowinventory https://www.instagram.com/inflow.inventory/ https://www.tiktok.com/@inflowinventory https://twitter.com/inflowinventory #inventory #inflow #inflowinventory #warehousemanagement #automation #humanoidrobots #supplychain #inventorymanagement #warehousing #robotics #logistics #operationsmanagement #secretlifeofinventory

  4. Jun 2

    1PL, 3PL, or 4PL? How to Choose the Right Fulfillment Model | (ft. Maggie Barnett, COO of ShipHero)

    What does it really take to choose the right fulfillment model for your business? When should brands keep fulfillment in-house, and when does it make sense to move to a 3PL or 4PL partner? In this episode, we sit down with Maggie Barnett, CEO of LVK Logistics and COO of ShipHero, to unpack the realities behind modern fulfillment operations and what businesses need to know before outsourcing logistics. Here's what you'll learn: → The key differences between 1PL, 3PL, and 4PL models → When in-house fulfillment starts to break down → The pros and cons of outsourcing fulfillment → What makes a strong 3PL partner → Why 4PL models can struggle operationally → How fulfillment strategy impacts customer experience → The future of logistics technology and AI in fulfillment If you're trying to scale fulfillment, improve operational efficiency, or figure out the right logistics strategy for long-term growth, this episode offers a practical, experience-driven look at what actually works. ⬇️ Follow Maggie! https://www.linkedin.com/in/maggiembarnett/ 🎙️ Visit our website for show notes: https://www.secretlifeofinventory.com/ 👀 Think you'd be a great fit for our show? Apply to be a podcast guest: https://www.secretlifeofinventory.com/apply-to-be-our-guest/ 0:00 - Teaser 0:21 - Intro 1:29 - Maggie’s Background in Supply Chain 3:06 - Juggling Roles: CEO of LVK Logistics & COO of ShipHero 4:41 - Defining the Fulfillment Landscape: 1PL vs. 3PL vs. 4PL 6:40 - How to Choose the Right Fulfillment Model 7:36 - When In-House Fulfillment Starts to Break Down 8:29 - Real Growth vs. Temporary Operational Chaos 9:36 - Red Flags in the 4PL Model 13:03 - Where 4PLs Break Down Operationally 13:43 - The Impact of Peak Season Demand Spikes on 4PLs 14:55 - The Reputation Risk of Outsourced Execution 15:45 - Do 4PLs Have Better Tech? 17:52 - Evolution of the 4PL Model 19:15 - Impact of ShipHero’s Pivot from 4PL to 3PL 22:01 - Pros and Cons of a 3PL Model 23:52 - Top Qualities to Look For in a 3PL Partner 25:30 - Do Companies Use Multiple 3PLs? 26:06 - Cost Comparison: 3PL vs. 4PL 27:09 - Biggest Takeaways from ShipHero’s 3PL Pivot 28:24 - The Exact Breaking Point for ShipHero’s 4PL 29:17 - The First Metric to Improve After the 3PL Pivot 30:26 - The Future of Logistics Tech and Fulfillment 31:56 - Could AI Eventually Fix the 4PL Model? 32:45 - Extending In-House Operations Before Outsourcing 33:52 - Which Brands Should Stay In-House Longer? 34:22 - Fulfillment Strategy for Multi-Channel Brands 35:05 - The Absolute Best Time to Move to a 3PL 36:13 - How to Diagnose a Struggling Fulfillment Partnership 38:01 - Core Principles for Long-Term Fulfillment Success 39:13 - Outro ✅ Try inFlow Inventory for free and never run out of stock: https://www.inflowinventory.com/ 🎧 Stream our Secret Life of Inventory podcast: https://youtube.com/playlist?list=PLZPdD9vxalF-TD_uxHmFsPkP5638NrU8-&si=7YIruVL0daUgxCBt Stay connected: https://www.facebook.com/inFlowInventory/ https://www.linkedin.com/showcase/5276148/admin/feed/inflowinventory https://www.instagram.com/inflow.inventory/ https://www.tiktok.com/@inflowinventory https://twitter.com/inflowinventory #inventory #inventorymanagement #inflow #inflowinventory

  5. May 5

    How to Track Your Products with Lot and Serial Numbers

    If you’ve ever wondered whether you should use lot numbers or serial numbers to track your inventory, this episode breaks it down in a clear, practical way. We cover what each system is, what information it stores, which industries rely on it, and when to use one over the other. You’ll also learn best practices and how inventory software can make tracking more scalable and accurate. Whether you’re improving your current process or building one from scratch, this episode will help you make better decisions about how you track your products! 0:00 - Teaser 0:15 - Intro 1:27 - What is a lot number? 2:14 - What information is stored inside a lot number? 3:13 - What does a lot number look like? 3:42 - Which industries rely the most on lot number tracking? 4:15 - What are the benefits of tracking by lot numbers? 8:05 - What are the best practices for lot number tracking? 10:30 - How do you track products by lot number with inventory software? 11:56 - What are serial numbers? How are they different? 13:05 - What other information is stored inside a serial number? 13:25 - What are the benefits of serial number tracking? 16:13 - What are the best practices for serial number tracking? 18:08 - When to use lot numbers versus serial numbers? 19:28 - Outro Podcast Produced by: inFlow Inventory Hosted by: Jared Plumb & Melinda Tse ✅ Try inFlow Inventory for free and never run out of stock: https://www.inflowinventory.com/ 🎙️ Visit our website for show notes: https://www.secretlifeofinventory.com/ 🎧 Stream our Secret Life of Inventory podcast: https://youtube.com/playlist?list=PLZPdD9vxalF-TD_uxHmFsPkP5638NrU8-&si=7YIruVL0daUgxCBt Stay connected: https://www.facebook.com/inFlowInventory/ https://www.linkedin.com/showcase/5276148/admin/feed/inflowinventory https://www.instagram.com/inflow.inventory/ https://www.tiktok.com/@inflowinventory https://twitter.com/inflowinventory #inventory #inventorymanagement #inflow #inflowinventory #batchtracking #lottracking #lotnumbers #serialnumbers

  6. Apr 7

    Manufacturing Beyond Machines: Culture, Ownership & Succession (ft. Jim Vinoski)

    What does it really take to build, scale, and sustain a modern manufacturing business? How do leaders balance operational efficiency, workforce challenges, and long-term succession planning in an industry that’s constantly evolving? In this episode, we sit down with Jim Vinoski to unpack 16 years at General Mills and explore what it takes to navigate today’s manufacturing landscape. From overcoming food production challenges to understanding the root causes of inefficiency, we break down practical strategies that manufacturers can apply right away. We also dive into the human side of operations—building strong talent pipelines, embracing second-chance hiring, and addressing age bias to create more resilient, high-performing teams. We’ll also explore leadership, capital, and the future of manufacturing—covering everything from raising funds and navigating family business succession, to evaluating private equity vs. ESOPs to prepare your business for a successful exit. If you're thinking about scaling your operations, strengthening your workforce, or planning for the future, this episode offers a grounded, experience-driven perspective on what actually works. 🎙️ Visit our website for show notes: https://www.secretlifeofinventory.com/ ⬇️ Follow Jim! YouTube: https://www.youtube.com/@manufacturingtalks5250 LinkedIn: https://www.linkedin.com/in/jimvinoski/ Substack: https://manufacturingtalks.substack.com/ https://www.manufacturingtalks.com/ 📖 Resources: → Read Jim's Books: https://a.co/d/0dlBXr3N and https://a.co/d/07wjr5TX → The E-Myth Revisited: https://www.goodreads.com/book/show/81948.The_E_myth_Revisited ✅ Try inFlow Inventory for free and never run out of stock: https://www.inflowinventory.com/ Podcast Produced by: inFlow Inventory Hosted by: Jared Plumb & Melinda Tse 0:00 - Teaser 0:24 - Intro and welcome to Secret Life of Inventory 1:49 - Lessons from 16 years at General Mills 2:42 - Overcoming food manufacturing challenges 3:37 - Most valuable lessons 6:09 - Modern tech trends & industrial evolution 7:30 - Jim’s earliest memory that defined his perspective on manufacturing 8:52 - How Jim's experiences influenced his consulting approach 9:53 - The root cause of operational inefficiency 11:58 - The current state of onshoring & regulations 12:50 - Essential solutions for modern manufacturers 13:52 - Building a talent pipeline for small shops 17:08 - The power & success of second chance hiring 21:14 - Tackling age bias and intergenerational dynamics 25:11 - Creating a perfect work culture 30:04 - Practical leadership advice 31:07 - Hiring advantages: small business vs. big corporate 33:37 - How to raise capital for manufacturing 38:08 - Obstacles in family business succession 40:05 - Mentoring the next generation of workers 40:50 - Government programs and training grants 41:55 - Private equity vs. ESOPs 44:57 - Alternatives to exiting the space 45:42 - Key strategies for scaling and future exits 48:05 - Making your financials attractive to buyers 49:35 - Outro 🎧 Stream our Secret Life of Inventory podcast: https://youtube.com/playlist?list=PLZPdD9vxalF-TD_uxHmFsPkP5638NrU8-&si=7YIruVL0daUgxCBt Stay connected: https://www.facebook.com/inFlowInventory/ https://www.linkedin.com/showcase/5276148/admin/feed/inflowinventory https://www.instagram.com/inflow.inventory/ https://www.tiktok.com/@inflowinventory https://twitter.com/inflowinventory #inventory #inventorymanagement #inflow #inflowinventory #secretlifeofinventory #manufacturing #jimvinoski

  7. Mar 3

    How to Build a Better Supply Chain (ft. Sarah Barnes-Humphrey)

    How do inclusion, sustainability, and innovation shape the future of supply chains? And what does it take to build a community that truly elevates underrepresented voices in the industry? In this episode, we’re joined by Sarah Barnes-Humphrey—creator and host of Let’s Talk Supply Chain and Women in Supply Chain, founder of the non-profit Blended Pledge, and a #1 Amazon Best-Selling Author. We explore her journey as a trailblazer in the supply chain space, her work advocating for equity and representation, and why community-driven leadership is essential for meaningful, long-term change. It’s a conversation about building more inclusive, sustainable supply chains, and the leaders pushing the industry forward. 🎙️ Visit our website for show notes: https://www.secretlifeofinventory.com/ Follow Sarah! Let's Talk Supply Chain: https://letstalksupplychain.com/ Blended: https://blendedpodcast.libsyn.com/ YouTube: https://www.youtube.com/@LetsTalkSupplyChain/videos LinkedIn: https://www.linkedin.com/in/sarahbarneshumphrey/ IG: https://www.instagram.com/sarahbarneshumphrey/ FB: https://www.facebook.com/letstalksupplychain Buy her best-selling book: https://www.amazon.ca/Buried-Her-French-Press-Finding/dp/1544549466 Join her supply chain community: https://letstalksupplychain.com/what-is-the-secret-society-of-supply-chain-with-sarah-barnes-humphrey/ ✅ Try inFlow Inventory for free and never run out of stock: https://www.inflowinventory.com/ 0:00 - Teaser 0:21 - Intro 1:34 - How did you get involved in the supply chain industry? 2:49 - What are common misconceptions?  3:59 - How was the transition from sales to marketing? 4:59 - What inspired you to start your podcast? 7:56 - Why is inclusion important? 10:45 - What are the challenges for minorities in supply chain? 12:14 - How can you build more inclusive teams? 13:35 - Have you experienced any pushback or skepticism? 14:54 - Why is it important to send your team to industry events? 16:52 - Have you noticed a shift since advocating for women? 17:56 - Where does 80% of greenhouse gas emissions come from? 20:26 - How do you implement sustainability into your supply chain? 22:08 - What's a real-world example of sustainability done well? 23:36 - How are companies approaching digital transformation? 26:11 - What tech is emerging? 28:36 - How can businesses balance the human side and AI? 31:02 - What emerging tech do you think will have a huge impact in the future? 33:18 - What's your favourite thing about working in the supply chain? 35:07 - How do you be a good leader? 36:32 - How do you break into the supply chain industry? 39:37 - Outro 🎧 Stream our Secret Life of Inventory podcast: https://youtube.com/playlist?list=PLZPdD9vxalF-TD_uxHmFsPkP5638NrU8-&si=7YIruVL0daUgxCBt Stay connected: https://www.facebook.com/inFlowInventory/ https://www.linkedin.com/showcase/5276148/admin/feed/inflowinventory https://www.instagram.com/inflow.inventory/ https://www.tiktok.com/@inflowinventory https://twitter.com/inflowinventory #secretlifeofinventory #inventory #inventorymanagement #inflow #inflowinventory #sarahbarneshumphrey #supplychain #letstalksupplychain #womeninsupplychain #inclusion

  8. Feb 3

    Your Ultimate Guide to Asset Tracking

    Asset tracking barcodes help businesses stay organized, reduce losses, and make better decisions about the equipment and tools they rely on every day. In this episode, we break down what asset tracking really means, which businesses benefit most, and how to get started with a barcode system. Whether you’re managing IT equipment, tools, vehicles, or high-value assets, this walkthrough covers the fundamentals (plus practical considerations on hardware, reporting, and best practices), so you can build an asset-tracking process that actually works! ✅ Try inFlow Stockroom for an easy scan-in and out workflow! https://www.inflowinventory.com/inflow-stockroom ▶️ Barcode resources: https://youtu.be/4hs5tq12s7M https://youtu.be/zSfymC0OPt0 https://youtu.be/XcluJ7s1BHA Podcast Produced by: inFlow Inventory Hosted by: Jared Plumb & Melinda Tse 🎙️ Visit our website for show notes: https://www.secretlifeofinventory.com/ Timestamps: 0:00 - Teaser 00:13 - Intro 2:14 - What counts as a business asset? 5:18 - What is asset tracking? 7:11 - Why should businesses track their assets? 9:20 - What types of businesses benefit from asset tracking? 11:26 - How do you implement asset tracking barcodes? 15:31 - What hardware do you recommend? 17:30 - Why is generating reports important? 21:29 - What are the downsides of asset tracking? 23:59 - What are the best practices for asset tracking? 27:59 - Outro 🎧 Stream our Secret Life of Inventory podcast: https://youtube.com/playlist?list=PLZPdD9vxalF-TD_uxHmFsPkP5638NrU8-&si=7YIruVL0daUgxCBt Stay connected: https://www.facebook.com/inFlowInventory/ https://www.linkedin.com/showcase/5276148/admin/feed/inflowinventory https://www.instagram.com/inflow.inventory/ https://www.tiktok.com/@inflowinventory https://twitter.com/inflowinventory #inventory #inventorymanagement #inflow #inflowinventory #assettracking #barcodes

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5
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3 Ratings

About

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! © Created by inFlow Inventory. 

Information

  • Creator
    inFlow Inventory
  • Years Active
    2023 - 2026
  • Episodes
    26
  • Rating
    Clean
  • Copyright
    © 2026 Secret Life of Inventory
  • Show Website
    Secret Life of Inventory

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