In the Transfer Order module, you can ship and otherwise move items between warehouses and other locations. It’s also fairly simple to replenish part quantities by transferring items from one location that has an abundance of them to another location where they are in short supply. We’ll cover this in greater depth below. (more…)
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t’s Christmas Day, and you know what that means? Presents! As kids, we would excitedly run downstairs and wonder what’s in our stocking on Christmas morning.
Now that we’re grownups, it’s a good idea to ask it once again. What’s in your stocking? If you have a warehouse it must feel like Christmas every day of the year because that is a question you have to ask yourself so frequently. (more…)
Welcome to Whiteboard Wednesday! In this video, James Shores explores how to classify inventory in four ways: (more…)
Ah, reports. They help you make sense of unwieldy amounts of data that would otherwise be practically incomprehensible. And we’re going to report on the differences between manually and automatically generating reports on inventory data. (more…)
Inventory performance metrics are essential to your business. They help you measure how well you are doing at managing your inventory. Here are three major ones you need to know to equalize your inventory levels in the long term. (more…)
How do you classify all of the parts and products in your inventory? It’s important to come up with a good inventory classification system because this helps you keep everything well-organized.
Choose between these four inventory classification systems to ensure your products don’t get mixed up. (more…)
This isn’t the first time I’ve talked about FIFO, LIFO, etc. on the Fishbowl Blog. But these are extremely important concepts that deserve to be addressed again because they are so essential when it comes to evaluating your inventory.
Without further ado, here are the five main ways to evaluate your inventory: (more…)
There are a number of costs that an advanced inventory management solution will help you calculate. Here are two of the big ones, along with all of the costs that they are made up of: (more…)
What is the purpose of holding inventory? To be responsive to consumer demand. (more…)
In an earlier episode of Fishbowl’s Whiteboard Wednesday, Kirk Tanner answered the question: What is inventory management?
Well, now James Shores is here to answer the equally important question: What is inventory control?
Believe it or not, inventory management is not the same as inventory control. I wrote extensively about the difference between the two in this article, simple entitled “Inventory Control.”
Inventory control involves tracking your items, inventory counts, and generating reports to help you cut costs, increase inventory turnover, and save money. There’s quite a bit more to it than this brief overview, so I’ll let James explain the rest in this week’s episode of Whiteboard Wednesday!
