Inventory Management Strategy

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planning for success

If you’re a stay-at-home mom selling a few dozen baby products a month on eBay, then keeping a “tally” of your inventory can be done with a simple Excel spreadsheet. However, if you’re a global manufacturing organization with thousands of inventory items to track, you’ll crash and burn if you use a simple approach to inventory management.

Being Slow to Adapt = Loss of Revenue

Manufacturing companies need synergy in their warehouses to smoothly process inflow and outflow. Your customers know what they want and they aren’t going to wait for it. If you’re “out of stock” for a product your consumer needs, then your competitor is going to get their business.

If you run a grocery store and you see that customers tend to buy potato chips and diapers within the same shopping trip, you need to allocate those products accordingly. If you don’t respond swiftly to consumer demand, then you lose out on revenue.

General’s View vs. In the Trenches

When dealing with inventory on a large scale, the decision-making cannot happen in the trenches, it needs to be done from above the battlefield, the general’s point of view. Potential bottlenecks, logistical problems, and inventory inaccuracies need to be anticipated and prepared for.

Fishbowl = The General’s View

Fishbowl is an advanced inventory management solution. The name “Fishbowl” comes from the concept of being able to see an object within a fishbowl from all angles. This concept translates directly into how our inventory software was created. It allows the decision makers to view their inventory from different angles and in different contexts. This helps you to create inventory management strategies and make business decisions that are not held back by the limits of faulty data. The leaders of a business can only be as “smart” as the information they’re provided. Let Fishbowl Manufacturing and Fishbowl Warehouse help make your business smarter.

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