Successful companies are going to employ a variety of purchase order management tools. Those who don’t will often struggle to stay on top of their business, and many will eventually go under. More and more, to remain competitive, businesses need to have some kind of purchase order management software solution.
If you continue to try and handle purchase orders manually, you’ll likely lose business and be frustrated. There is a better way that can simplify your business processes and offer you centralized control and management of your inventory and purchase orders: purchase order management software. There are three things you should be looking for in any software:
With a system like Fishbowl, your purchase orders are visible in both the warehouse and office. People in the warehouse can see what is on order, who it is coming from, and when it should arrive. Accountants can see the payment terms and when payments are due. Everything you need to know about your purchase orders or order history is at your fingertips.
You can greatly simplify the purchase order process by setting inventory level triggers that tell the system when to issue a purchase order based on your known lead times. This ensures that you never experience stockouts. This can become extremely helpful when the numbers of unique inventory items are at levels too hard to track manually.
How do you want to manage your purchase orders? Maybe you want to buy from the lowest cost provider. Or you might prefer to not hold inventory longer than necessary and order from a vendor that ships quickly, but at a slightly higher cost. What might be best is a mix of both based on your sales history and customer base. Either way you choose, purchase order management software gives you the flexibility to manage your inventory and business the way you want, giving you the ability to compete at a higher level.
The bottom line is your business will run much smoother with the right order management solution in place. You’ll increase revenues at the same time as developing stronger and more productive relationships with customers, prospects and vendors. You’ll reduce stockouts and overstock. Human error from double and triple data entry will be a thing of the past.
Fishbowl Manufacturing and Fishbowl Warehouse offer user-friendly purchase order management software and many other useful features to help you manage your inventory more efficiently. To learn more about Fishbowl and how it can help your business, sign up for a free trial today.