Whiteboard Wednesday is a new video series Fishbowl is producing to explain complex inventory management practices in visual terms that are simple enough to fit on a whiteboard.
In the following video Fishbowl CMO Kirk Tanner compares and contrasts a Perpetual Inventory System with a Periodic Inventory System. They share a lot of similarities, but their major difference is that a Perpetual Inventory System is quicker and gives real-time data while a Periodic Inventory System is slower and requires more manual work, but it is also cheaper.
Which inventory system is right for your business? Find out in this week’s Whiteboard Wednesday, and stay tuned for the next episode, which will define what inventory management is.