Find the latest facts on supply chain management right here. Keep your business well-stocked with products and other supplies by using smart strategies to keep your supply chains running strong. You can also learn more about Fishbowl's supply chain management software.
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Supply chain management is the process of managing goods as they move from the manufacturer to the consumer. This involves managing infrastructure such as vehicles, personnel, inventory, and finances. This is a daunting task for global supply chains as well as local supply chains. There are three main processes to be managed and tracked in a supply chain:
Inventory management is the challenge of tracking all of your product parts and sellable goods. An inventory tracking system is the really only way to do this effectively, as manual tracking and spreadsheets are obsolete. Barcoding and point of sale are essential parts of this process as they serve as the bridge of tracking what’s on the shelf and what shows in your system.
This goes beyond just tracking inventory. Managing employee time, product re-order points, and capital allocated is also necessary. This delves into the functionality of ERP systems, which can manage all of a company’s resources.
Keeping track of all finances can be a real headache, but is essential in making sure you can cover your expenses and get optimal return on products sold. Most accounting systems are separate from inventory systems, but fortunately systems like Fishbowl integrate with QuickBooks and allow you to keep all of your finance data centralized.