An Advanced Inventory Management System for an Affordable Price

What is inventory management?
Inventory management is the ongoing process of moving goods into and out of a company’s locations. It includes such tasks as placing new orders for products and shipping orders to customers. Business leaders must have a firm grasp of everything involved in the inventory management process to find the right solutions to inventory challenges.

Challenges
Tracking inventory is an important part of doing business. It is the means by which companies remain stocked with all of the essential goods they need to sell to customers and complete daily operations. When products are sold, they must be replenished at a rate that finds a healthy balance between the extremes of overstocks and stockouts.

Supply and demand aren’t constant. They often change with the season and over the course of a product’s lifecycle. There’s also the problem of keeping track of inventory with different units of measure and suppliers in various countries with their own distinct tax rates and laws.

Attempts To Solve
To solve these challenges, companies often turn to software that can help them track their inventory, orders, vendors, and more. Startups frequently record inventory quantities in an Excel spreadsheet because it’s readily accessible and they don’t have to put a lot of money into obtaining it. But as they grow bigger, they often find that Excel lacks the more advanced= features they need to analyze data, spot trends in sales and supply chains, automatically update inventory records from a barcode scanner, and keep their data secure yet accessible by the right people.

Using a simple inventory solution is a step up from Excel, but its limitations soon lead growing businesses to switch to a more advanced solution. This is a costly error for small businesses that have precious few resources to spare.

Solutions
A better solution for tracking inventory is to find software that is affordable and robust enough for small and midsize businesses to stay with for many years. It has features that are simple enough for a young business to master, which can also be expanded to fit that same business’s increasingly complex needs year after year. Fishbowl is a powerful inventory management system that fits the bill.

Fishbowl Manufacturing and Fishbowl Warehouse help you oversee multiple locations, track shipments, automatically reorder products, print and scan barcodes, convert units of measurement, use multi-currency features, create multilevel work orders, and much more. Fishbowl integrates with dozens of other business solutions, including Amazon, eBay, Magento QuickBooks, Salesforce, and Xero, just to name a few. So you can share your inventory data across all of your other online and desktop platforms to ensure each one has accurate, up-to-date inventory quantities and values.

inventory management software

Usefulness
Fishbowl is an ideal inventory solution for many types of businesses, including:

  • Manufacturers who work with hundreds and even thousands of parts, components, and other materials.
  • Wholesale distributors with multiple warehouses and suppliers both inside and outside their home country.
  • Service providers who must maintain adequate numbers of cleaning supplies, replacement parts, and other items to serve their customers.
  • Food producers using ingredients that must be consumed before reaching their expiration dates.
  • Government agencies looking to track their assets across wide expanses and to serve a large number of people.
  • And many others, ranging from SMBs to large organizations.

With Fishbowl, you can speed up your inventory management processes by using barcode scanners, save money by balancing your inventory needs, and get more out of your workers by giving them the tools to be more productive. Eliminate double data entry by integrating Fishbowl's inventory software with your accounting software and other business solutions.

Convert multiple currencies into your home currency in purchase orders and sales orders to help with taxes and other calculations. And use production stages in multilevel work orders and bills of materials to make sure manufacturing jobs get done in the right order and fast enough to keep up with demand. That’s a tall order, but Fishbowl is up to the task.

Fishbowl is the total automated inventory system. Start improving your company’s inventory management today by getting a 14-day free trial of Fishbowl!

TL;DR SUMMARY

Inventory management is the process of tracking items as they enter and leave a warehouse. There are many challenges, such as shortages, carrying costs, and supply chain disruptions, which can be solved by using an inventory solution.