4 Practical Results of Managing Inventory with Real-Time Analytics

Real-time analytics help with inventory management, Fishbowl Blog

Real-time analytics might conjure up search engines and purely online connotations in one’s mind, but they also relate in profoundly important ways to inventory management. Today’s inventory management software uses real-time analytics via barcode scanners, in-depth reports, software integrations, and other automated tools to streamline business processes and ensure data accuracy.

Fishbowl is the #1 warehouse manufacturing and management software for QuickBooks, and it has helped numerous small and medium-size businesses improve their bottom line with real-time analytics. Here are four real-life results of using Fishbowl in different types of businesses.

Improved Interdepartmental Communication

A splitboard binding manufacturer called Spark R&D has many departments that each had their own way of managing inventory. This created a great deal of confusion before they found Fishbowl. With Fishbowl’s help, they managed to get every department on the same page by giving everyone access to the same inventory management solution. Now it’s never a surprise to anyone when they are running low on a certain item. They can all see it well ahead of time and adjust to avoid a stockout.

The marketing department uses Fishbowl to track how many bindings are available for special offers. The sales department uses Fishbowl’s sales orders, integrations with QuickBooks and Magento, and many other modules to facilitate the selling process. Their shipping department managed to cut down on the paperwork needed to pick, pack, and ship items to fulfill orders faster than ever. And, of course, the production team uses Fishbowl’s extensive manufacturing software features to efficiently pump out products.

Reduced Costs

Bex Sunglasses is unique in that they came back to Fishbowl after using it years ago and stopping for a time. They simply couldn’t find a better inventory management solution. And they’re grateful they returned because Fishbowl’s real-time tools allowed it to save ample time on once-time-consuming jobs. No more Excel spreadsheets or handwritten inventory lists. Now all of those tasks could be automated and done in seconds instead of hours. Rather than tying up excess cash in slow-moving assets, they now maintain healthy inventory levels to avoid both stockouts and overstocks.

Increased Revenue

An aquatic sports clothing company called Tunaskin experienced a big rise in its online sales after it started using Fishbowl. And they attributed that rise to the inventory management software’s positive influence. By giving Tunaskin employees instant access to the latest sales and inventory numbers, Fishbowl enabled them to speed up the order fulfillment process and restock their inventory in a timely manner to keep up with demand.

Empowered Employees

The good people at Sanacare, a distributor of medical products, enjoyed many benefits as soon as they started using Fishbowl in their warehouse. Instead of having to write down information and manually enter it into their inventory system later, warehouse workers could simply scan items on the shelf and instantly update inventory records. The same employee can now perform cycle counts, receive new shipments, pick items in large batches, and reorder items that are getting low. This saves time and prevents errors in data entry.

Not only that, but their accounting department is also able to automatically transfer important data from Fishbowl to QuickBooks with the click of a button. Shortly after they enter a sales order, purchase order, or other item into Fishbowl, the inventory management software passes it along to the accounting software for safe storage. This can be done manually or on a scheduled basis.

Get Real-Time Analytics for Your Business

You can follow in the footsteps of the businesses named above and start using Fishbowl’s real-time analytics in your company to see similarly astonishing results. Sign up for an online demo of Fishbowl software today. You’ll be really glad you did!