4 Signs Your Business Needs a New Inventory Management Solution

4 signs your business needs a new inventory management solution, Fishbowl Blog

Inventory management systems are essential for your business. They help track the ins and outs of your stock with precision.

However, not all inventory systems are built the same. Some inventory systems might work well for your business, while others won’t. So it’s up to you to evaluate your current inventory management solution and see if it suits your business well.

But first, here’s a list of some essential functions a good inventory management solution should do:

  • Accurately forecast stock demand and sales
  • Highlight high-selling and profitable products
  • Manage stock levels, orders, purchases, etc.
  • Prevent overstock and stockout situations

So when will you know that your current inventory management solution isn’t working for you? The following four critical signs will tell you when you’ll need to look for a new inventory management solution.

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How Port Congestion Is Causing a Markup in Shipping Container Prices

How port congestion is causing a markup in shipping container prices, Fishbowl Blog

Supply chain complications and the ever-evolving pandemic have meant strange times for the container shipping industry, including port congestion and wild price fluctuations. There’s also a massive shipping container shortage playing out. If anyone was hoping that things would eventually return to normal, that’s not looking to be the case. 

Securing $59 billion in profits for the first quarter of 2022 certainly was a promising achievement, as it set new records and was driven almost entirely by competitive pricing. However, it doesn’t change the arduous state that the logistics and shipping industry is currently facing.

Those shipping and container prices will continue, and all-time highs may also occur, but it’s still important to consider the primary factors for these trends. What else is causing a high markup in shipping container prices? Is it port congestion, demand, and freight increases, or is it something else entirely? When is the shortage going to end?

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What Are the Best Lift Truck Options for Cold Storage?

What are the best lift truck options for cold storage? Fishbowl Blog

Cold storage is a crucial part of many supply chains for keeping food, medicine, and other perishable goods safe. Cold storage equipment is becoming even more critical amid rising global vaccine production and a broader emphasis on supply chain resiliency.

Lift trucks aren’t exclusive to cold storage, but they do carry unique requirements in colder environments. Warehouse managers who don’t account for these needs may run into operational issues and high repair costs. Here are a few of the best lift truck options for cold storage to enable smoother, more reliable operation.

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5 Innovative Ways to Cope with Skyrocketing Commodity Costs

Commodity costs are rising extremely high, Fishbowl Blog
Commodity costs are rising extremely high, Fishbowl Blog

The price of practically everything is on the rise.1 That hardly does our situation justice. It’s more honest to say that commodity costs are already through the roof, and both businesses and consumers are beginning to face this harsh reality. Don’t expect prices to come down anytime soon. Instead, plan ahead to manage skyrocketing commodity costs by making these five seemingly simple yet innovative changes to your business.

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How to Manage Inventory

Inventory tracking software helps you know exactly where to find your products, Fishbowl Blog

How do you manage inventory? It seems like such a simple question, but there’s actually a lot of complexity in its answer. We are going to walk through what inventory is and the steps that are necessary to take in order to properly manage it.

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Everything You Want to Know About Using Fishbowl

Use the Fishbowl Wiki, training videos, and more to learn the software, Fishbowl Inventory Blog

We are going to discuss many of Fishbowl’s products, as well as their uses and training options. Fishbowl offers the #1 manufacturing and warehouse management solutions for QuickBooks, plus a variety of other solutions to help with additional aspects of business operations. Here’s a sneak peek:

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Should Your Warehouse Be Closer to the Factory or the Customer?

This map shows states in the U.S. that have taxable and non-taxable shipping laws, Fishbowl Blog
The location of your warehouse can play a significant role in your store’s profitability. Consider the example of an e-commerce store selling licensed NBA jerseys. In this case, an L.A. Lakers jersey is more likely to be sold in and around Los Angeles than anywhere else. Stocking this inventory at a warehouse close to Los Angeles is common sense. On the other hand, let us consider a store that sells licensed Disney merchandise online. In this case, the buyers come from all across North America, and even the world. Would you identify your major markets and stock your inventory close to these locations? Or would you stock your inventory close to your manufacturer’s location and ship them to the customer on demand? There are no easy answers here, especially considering that rival stores like Amazon ship their products overnight. Housing your inventory close to the manufacturing location could dramatically increase shipping time, and this puts your store at a disadvantage. At the same time, if your products are made in a country like China, your holding costs here are significantly lower than what it would cost to stock inventory in the U.S. Here are a few factors to take into account when determining the location of your warehouse. (more…)

Quick Tips for Choosing a Manufacturing Supplier

Quick tips for choosing a manufacturing supplier, Fishbowl Blog
Quick tips for choosing a manufacturing supplier, Fishbowl BlogWhether you’re starting a new business entirely or launching a new product for an existing organization, you’ll eventually come to the point where you must secure a supplier for materials or items. This is perhaps one of the most difficult elements of launching a product or kickstarting the development process. Both the quality of the goods you source and the reliability of the partner you choose factor into the overall success of the finished product. Therefore, it is crucial that you find a suitable supplier — one that will also guarantee regular shipments and consistent material quality. Here are some quick tips that will aid you in this important decision, enabling you to choose not just a reliable manufacturing supplier but one that aligns with your company and goals. (more…)

Supply Chain Management Articles

Supply chain management articles, Fishbowl Blog
Supply chain management articles, Fishbowl BlogSupply chain management is an important component of tracking inventory, and you will find a lot of valuable information on this topic in these articles. Plus, the Supply Chain Management category is unique among all of the other categories because it contains a number of essays from college students who submitted their work on the topic of U.S. manufacturing and supply chains. They are clearly marked as such below. If you are curious about supply chain management topics, this is the place to be: (more…)