I’ve been answering complex inventory management questions for the past few weeks. I’ve already explained how to manage a warehouse and how to track inventory across multiple locations.
Now I’m going to answer the all-important question: How do I get the best value for my money when I purchase inventory control software? There are four main ways to answer this question: cost, features, scaling, and integration. Continue reading
Fishbowl CEO David K. Williams is a regular contributor to Forbes, and he’s reached more than a million readers in the past two years. One of those readers is Christine Lattimer with People Development Magazine.
Kicking off her magazine’s monthly theme of “Developing Employees,” Lattimer recently interviewed Williams to get his insights into how he’s managed to build a successful business that empowers its employees.
They cover all sorts of topics in the interview, including: Continue reading
All the world’s a stage of production, and all the parts and products merely players… or something like that.
William Shakespeare didn’t have modern manufacturing processes in mind when he penned that famous line in his play As You Like It, but his words still resonate in the manufacturing industry.
The world thrives on an endless production cycle. Companies constantly obtain and sell new products, customers consume those products and come back for more, and vendors keep retailers well-stocked. Continue reading
Last week I discussed how to manage a single warehouse. Today I’m going to take it a step further and talk about how to manage all of your inventory in multiple locations.
The answer to the question “How do I track inventory in multiple locations?” is actually quite simple: Use inventory tracking software. That might seem oversimplified, but the fact is that pretty much everything you need to handle the complexity of multiple locations is found in advanced inventory tracking software.
This software allows you to: Continue reading
Before you do an inventory count, there are five questions you should answer first:
Why is this inventory count necessary?
What inventory are you going to count?
Where is your inventory located?
When are you going to do the count?
Who is responsible for the inventory count?
Once you’ve done that, you should be good to go. Fishbowl CMO Kirk Tanner offers a few more insights into the inventory counting process in the video above. Be sure to check it out, as well as the rest of our Whiteboard Wednesday videos.
Extra! Extra! Read all about it! Rona Rahlf, the publisher of the Daily Herald in Provo, Utah since 2008, left her position with that newspaper more than a month ago to join Fishbowl as its Managing Director of Fishbowl Training Enterprises.
Rahlf worked with Lee Enterprises, the publisher of the Daily Herald, since 1987. Before working at the Utah-based newspaper, she held positions at other Lee-owned publications in New York, Pennsylvania, California, Montana, and Arizona. Continue reading
As I promised in last week’s blog post, I’m going to start answering complex questions related to inventory management. The first is: How do I manage a warehouse?
This is a big question with several parts that need to be addressed in order to answer it properly: Continue reading
Consignment is when a supplier hands over products to a retailer without being paid for them initially. They are paid after a customer purchases the product from the retailer. This is a common practice among suppliers who don’t have much of a track record and are looking to establish themselves by getting products into large retail chains.
This can be a risky proposition. But suppliers can take some of the risk out of consignment by using an order management solution to make sure they know where all of their products are and when sales are made.
James Shores explains all of this and more in this week’s Whiteboard Wednesday. Come back next week for even more insights into inventory topics like this.
When Marcellus famously says, “Something is rotten in the State of Denmark,” in Act I of William Shakespeare’s Hamlet, he could just as easily be referring to spoiled products as he could to Hamlet’s murdered father.
You don’t have to be a Danish prince to realize that Danishes have a short shelf life, for example. Just about everything, from batteries to food items, has an expiration date that businesses must take into account when working with them.
Even electronics become outmoded or see their market value drop over a relatively short amount of time, so although they don’t have freshness dates, they do still have shelf lives. Continue reading
Over the past five weeks, I’ve covered five important inventory management terms that every business owner should be familiar with.
Here is a recap of the terms I’ve mentioned, which includes their definition and link to the full blog post on each of them for you to get more information: Continue reading