Are you looking for the ideal inventory software solution for your jewelry business? Selecting the right program comes down to the size of your jewelry business, the kinds of features your need, and the amount of money you are willing to spend for a quality program. The need for good inventory software will become crystal as we explore this topic in detail.
Fishbowl is a great solution for jewelry stores. It lets you track hundreds of thousands of jewelry pieces and it helps you fulfill many other inventory management needs. Here are just a few of the benefits you will receive from using Fishbowl for your jewelry inventory software.PROPER ORGANIZATION
With so many jewelry pieces, keeping them organized by name, size, color, description, order number, and price can be challenging. Fishbowl gives you numerous ways to organize your inventory, and it includes a complete listing of vendor information. You can even assign a vendor to a specific part or product so that when it comes time to order more of it, you already have the vendor information filled out and ready to go.TRACKING TRENDS
What jewelry items are selling the best? An inventory system allows you to answer these types of questions and stay on top of your stock levels. Not only that, but it can also tell you which items are your top sellers on a per-location basis. Some jewelry items may sell better at one location more than another, so if you have multiple stores and warehouses, you can better plan for each one’s needs by tracking sales and orders at all of them. And if you run into a shortage at one location and an overstock at another, you can create a transfer order and quickly move those items between the two locations.SETTING PRICES
Reviewing sales and costs gives you insights into markup prices for your jewelry items. You can revisit prices whenever costs increase or decrease, so you’re always staying competitive. Plus, you can create pricing rules that offer percentage discounts, dollar amount discounts, and other inducements to certain customers and groups of customers to get them to buy your products.MULTICURRENCY CONVERSIONS
If you have suppliers and customers in a number of countries besides your home country where you base your operations, you will need an inventory management solution that can convert foreign currencies used in sales orders into your home currency. This is essential for tax purposes and many other reasons. After all, you can’t add Canadian dollars and U.S. dollars together indiscriminately and expect to get an accurate total. It just turns into a jumbled mess. You must make sure that you have the right financial and inventory numbers to send to your accounting solution if your inventory software is integrated with your accounting software, such as QuickBooks or Xero. Basically, accuracy is paramount when it comes to multicurrency conversions, so you must make sure that your inventory software can handle them.GET FISHBOWL TODAY
If you want jewelry inventory software that gives you complete control of your inventory, sign up for a free trial of Fishbowl Manufacturing or Fishbowl Warehouse today.