Inventory management. That’s an important topic for fishers to tackle. You may fish for fun or as a job, but either way you know just how important it is to keep track of all of your fishing supplies. “Fishing tackle” is a term that refers to all types of fishing equipment, from rods to baits. Whether you are a fisherman or a fishing supply store, you can benefit from this discussion because it is all about helping you make the most of your resources by keeping track of your items, only getting specific products that you need, and restocking them at the appropriate times.
Let's cast a wide net as we plunge into the topic of fishing tackle inventory management!
Opening a can of worms
We’re about to open a can of worms as we discuss how to manage your fishing inventory. Casting rods, trolling rods, fly-fishing rods, saltwater rods, and spinning rods all need to be differentiated and safely stored before they can be used, sold, and/or shipped. This can be accomplished with the aid of fishing rod holders, racks, tubes, and cases. But what can aid you in your quest to monitor their quantities and locations?
That’s where the can of worms comes in because there are a number of ways you can do this, and they all have advantages and drawbacks:
- Memory — You can rely on your mind to simply remember everything you have in stock and when you need to reorder it. This is the simplest and cheapest method, but it involves a great risk of human error because if you forget something or are not in the office, no one else will be able to do the job for you.
- Pen and Paper — Rather than relying on memory, you can write down inventory facts and figures so that they are available in black and white. However, this can lead to problems because security is an issue, as well as the fact that paper can be accidentally destroyed, thrown away, smudged, or lost.
- Excel Spreadsheets — It is possible to store inventory information on a spreadsheet, and this digitizes it and keeps it relatively safe. But the actual process of updating data is difficult to automate, so whenever a change is made it will have to be added manually, which is a time-consuming process.
These are not your only options. They are just the simplest. There is another option that can let you off the hook.
Off the hook
There are all kinds of baits that fishers use to lure fish to them. A few examples include hard baits, soft baits, and swimbaits, as well as the variety of baits that fall under each of those broad categories. In addition, there are more sophisticated pieces of equipment, such as sonar devices, underwater cameras, and temperature and depth sensors. Let’s take the bait and ironically let ourselves off the hook at the same time by revealing the best way to manage inventory: using inventory management software!
Inventory management software helps small and medium-size business to:
- Automatically update inventory records to account for sales orders, purchase orders, work orders, etc.
- Integrate with accounting software, such as QuickBooks, to eliminate double data entry.
- Track parts by lot number, expiration date, serial number, and other criteria.
- Generate reports on each location’s sales, quantities, and additional trends.
- Print and scan barcodes to make picking, receiving, and reordering faster and more accurate.
- Set up auto reorder points on goods to make sure they are reordered at the proper times.
- And much more!
These expansive features come at a price that is higher than the first three options, and the software also takes more time to be trained on, but the benefits it offers far outweigh these costs.
It’s time for some real talk. Do we mean casting reels, trolling reels, spincast reels, fly-fishing reels, saltwater reels, and spinning reels? Not exactly, but in an indirect way, yes. You see, now is the time to choose which inventory management method is best for you in order to keep track of your reels and other equipment. If you fish as a hobby, you can simply use your memory or a pen and paper. If you are running a startup with a small amount of inventory, you can probably get by just fine with a simple Excel spreadsheet. If you are growing into multiple locations and you find that a spreadsheet does not cut it anymore, you are better off going with advanced inventory management software. It doesn’t need to be extremely expensive to give you the features you need. In fact, the software can even grow with your business to give you access to more and more features and integrations when you need them. This will be a real boost to your company.
Drop us a line
If you would like to know more about inventory management software, drop us a line at Fishbowl. It’s appropriately named, and Fishbowl is also the #1 selling manufacturing and warehouse management software for QuickBooks. It offers all of the features listed above, plus many more. Find out how Fishbowl can increase your efficiency.
Click here to download a Free Trial of Fishbowl
Inventory management is an important topic for fishers to tackle, and they can do it by using:
- Memory — A risky but free method.
- Pen and Paper — Inexpensive but limited in its security and portability.
- Excel Spreadsheets — Highly accessible but difficult to automate data entry.
- Inventory Software — Automated, secure, and robust, but a higher price.