“When will you make an end?” Pope Julius II famously asked Michelangelo concerning his painting of the Sistine Chapel’s ceiling in The Agony and the Ecstasy.
Michelangelo’s epic response? “When it is finished!”
It took Michelangelo four years to complete his masterpiece. Thankfully, you don’t have to go through as much time and agony as this master artist to turn your inventory management into a work of art.
Many companies are in pain. They’re suffering from bad inventory management, double data entry, poor tracking of inventory in Excel spreadsheets, and slow picking, packing, and shipping. And that’s just scratching the surface of many companies’ inventory woes.
Here are four inventory agonies companies face and how to turn them into ecstasies.
Inventory Balance
Agony: Out-of-whack inventory management can lead to carrying cost overruns as you try to store too much inventory in your warehouse. It can also lead to a scarcity of products in stock, delaying order fulfillment. Ecstasy: Imagine keeping a perfect balance of inventory on hand at all times and also planning ahead for seasonal changes in demand and other historical factors that need to be considered.Double Data Entry
Agony: Having to enter the same numbers in your accounting and inventory management software increases the risk of errors being made. The quantities might not match up as these mistakes pile up over time. Plus, double data entry takes a lot of time. Ecstasy: Integrating your accounting and inventory management solutions is the answer. Fishbowl integrates seamlessly with QuickBooks and Xero, making it possible to instantly transfer data between them, so you can scan barcodes and record quantities once and then know that it will be recorded everywhere the same way.
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