4 Practical Results of Managing Inventory with Real-Time Analytics

Real-time analytics help with inventory management, Fishbowl Blog
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.

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The Art of Knowing What Will Sell

Inventory management is crucial for boosting sales.
Inventory management is crucial for boosting sales, Fishbowl BlogYou’ve probably worked with inventory long enough to recognize that predicting what will sell and what won’t can be very hard. It becomes necessary every time your shelves stack up with unsold products and you find yourself in debt for them. It’s a great thing but also problematic when you sell out of a product and there’s an unmanageable demand for more. So how do you best prepare for those situations? However, one small aspect that can help is simply using the knowledge you have and whatever tools are at your disposal to predict buying and selling trends. Thankfully, the Internet and technology have left us with plenty of instruments to help with that. It’s important to realize that the Internet is not the only place to get relevant information about buying trends. For instance, it may also be wise to speak with any supply chain managers you know from, say, ASU about buying trends they’ve seen over the years. Others’ experiences can teach you some things about consumers that computers cannot. That said, you do have a lot at your fingertips with the Internet. So without further ado, here are some tips on how to use them and predict consumer trends so you don’t end up with more than you can chew. (more…)