Barcoding Inventory Reduces Costs and Improves Efficiency According to Fishbowl Inventory
Orem, UT -- (SBWIRE) -- 01/14/2013 -- The benefit of using a barcode label on a company’s inventory of finished goods reduces its inventory carrying costs. More importantly using barcodes help a company win more business. A company’s inventory carrying costs are typically 3% of its inventory value on hand. These carrying costs include the costs of managing the warehouse, paying rent, financing inventory, inventory obsolescence, inventory damage, as well as the incoming and outgoing freight costs on raw materials and finished goods. These carrying costs are largely driven by the company’s costs to hold inventory without sales and the costs of losing sales because inventory counts are too low.
Fishbowl Inventory suggests that updating inventory in real time is essential. Using a barcode scanner to track incoming and outgoing shipments of finished goods means the company’s inventory system is always operating in real time. Updates are immediate, accurate, and a real reflection of current inventory counts. Improved efficiency helps to distinguish the company’s value proposition; a more accurate inventory system means a more accurate estimate on delivery times, a clearer definition of inventory costs, and, most importantly, a better overall price to market.
Fishbowl Inventory (http://fishbowlinventory.com) is the most requested inventory management solution for seamless integration with QuickBooks, and is a popular standalone solution for organizations or enterprises looking to track assets. For users of QuickBooks it provides the same advanced features, flexibility, and mobile management control larger organizations require.
QuickBooks owns an estimated seventy-eight (78%) percent of the accounting software market. Analysts estimate there are more than 7.1 million copies of QuickBooks in use. By conservative estimates, more than forty (40%) percent of these organizations directly need or could strongly benefit from inventory control.
Fishbowl Inventory has been the most frequently requested inventory solution for QuickBooks users for more than a decade. As small-to-medium companies grow and face increasing competition, the flexible cost-effective combination of QuickBooks and Fishbowl grows alongside SMBs regardless of the industry sector. These smaller firms need the same kind of inventory management large organizations enjoy at a more affordable price.
Manufacturers benefit in many ways by using Fishbowl’s Manufacturing Option. Fishbowl provides several competitive advantages, including configurable bills of materials, instructions, and stages; tracks tens of thousands of parts and integrates with QuickBooks.
As manufacturers grow and expand their product line, increasingly complex processes must be coordinated. Fishbowl simplifies processes by automatically generating manufacture orders, work orders, bills of materials and other essential documents when customer orders arrive. Each bill of materials can include detailed instructions, multiple stages of production, and other features to make every manufacturing job more efficient.
Fishbowl offers custom reports, custom shopping cart integrations, custom data integration, and database-related application linking and eliminates data entry errors. With simple features of barcode scanning, companies easily receive inventory into systems or records as it comes off the carrier vehicle, make adjustments to quantities being received, and easily enter tracking information in real time. Fishbowl software significantly increases accuracy and worker productivity.
Mary Michelle Scott, President