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How Your Business Can Thrive in 2022

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Your Guide for Inventory Management Success in 2022

If the last 2-years have taught us anything, it’s that none of us know what’s around the corner.

Every business that holds and sells inventory has experienced a tumultuous time. Whether it’s sudden lockdowns, supply delays, increased shipping costs, a surge in customer orders, or juggling staff shortages due to illness and the need to work from home – inventory-based businesses have been put through the ringer. And it has certainly become the ‘new normal’, right?

During this time, we have seen many businesses that have absolutely thrived.  These companies have responded quickly to changing circumstances, and by putting the right systems in place, have capitalised on every opportunity that this time has delivered.

Whereas other businesses have become totally overwhelmed. Typically these companies have resisted change, clinging to the hope they could carry on as they always have with slow, inefficient manual processes that waste time and money.

2022 is the year to put yourself in the driver’s seat and prepare your business for its best year yet!

We have collated this handy guide to help more Australasian businesses to scale and grow.

It’s easier than you think – and now is the time!

How does a good Inventory Management system help?

Inventory Management software provides your business with the proper operational platform that you need to manage your purchasing processes, inward goods, stock management, manufacturing, and dispatch of your customer orders. Having these correct systems and processes in place gives you greater business stability.

 

The above processes can also be achieved using your accounting software, or excel spreadsheets, but there comes a point when you outgrow the capabilities of using these systems to manage your inventory business.

 

Using Inventory Software alongside your accounting system will allow you to breakthrough to a new level of business management. Giving you the possibility to:

  • Allow you to effectively control your stock holding levels using smart min/max and forecasting functions.
  • Manage customer backorders with ease.
  • Manage your suppliers and purchasing processes with true, accurate Landed Costings with Multi-currency.
  • Manage multiple warehouses rather than all your inventory being lumped into one listing.
  • For the manufacturers out there, you can utilise the full manufacturing suite with Bill of Materials and Manufacturing Orders. Allowing for smart management of Work Order scheduling to instantly know your labour demands so you can manage staff and resourcing of your production team.
  • Plus many more tools.

For most stock-based businesses the biggest impact on cashflow is stock holding.  For example, if you carry $500,000 worth of stock at the moment and if you can reduce your stock holding by 10% by knowing slow moving stock or having greater understanding of your stock turnover rates, you can put $50,000 back into your businesses daily working capital.

 

These elements are all part of good inventory management software and sets a solid foundation for your business. This platform is the foundation for the operations of your business and can be added to as your business-needs grow. Good inventory management software will allow you to connect with other programs to drive even more efficiency and stability.

 

When you are selecting an Inventory Management solution for your business, you should factor in what smart solutions are available to be added alongside as futureproofing. While you may not need all of the available integrations on day one, you should have the comfort in knowing that you can add these if and when needed. Connecting your Inventory Management software to your accounting system is just the beginning.

Quickly integrate eCommerce websites with Fishbowl

When salespeople could not visit customers face to face anymore, we had clients quickly and easily plug in a B2B order portal with their Fishbowl to keep getting these orders in the door. This allowed existing customers to place orders and a time that suited them, without a salesperson present and these orders automatically flow straight into Fishbowl for your warehouse team to dispatch.

 

We saw extreme disruption to business models, especially for suppliers to the hospitality industry. Revenue streams were bought to a grinding holt. With the solid platform of Fishbowl Inventory, our clients were able to move very quicky to implement new alternative revenue streams. One Fishbowl client set up 3 new eCommerce websites and connected these all to their Fishbowl. This client had never sold online before and this client is now busier than ever, all while utilising their existing operational software!

 

Other companies had severe staff restrictions, so they needed to work smarter. Implementing time saving solutions like a freight integration removes the double entry of consignment details for each order leaving your warehouse.

 

It is this agility that you need in your business so your business can thrive no matter what the year ahead brings.

Here is how we can help with the process: 

5 reasons you should use Fishbowl 

  1. Eliminate data entry errors: Use barcode scanners to instantly update your inventory records instead of manually typing in data.
  2. Save time and money: No more double data entry thanks to Fishbowl’s seamless integrations.
  3. Increase security: Get your staff out of your Accounting system. Assign user rights to staff to restrict information viewing, and access rights for certain tasks.
  4. Get detailed reports: Fishbowl lets you analyse your inventory, sales and purchasing data to spot trends and other valuable insights.
  5. Manage your business, not your Accounts: Managing your customers orders and operations should be your number one focus. Let Fishbowl take care of this, and your accounts will look after themselves.

Bring your inventory management system to a whole new level of efficiency by signing up for a free trial of Fishbowl!

 

 

 

3 Step Plan for sorting your Inventory in 2022

1) Talk to us about your business

 Our team of Solutions Specialists have first-hand real-life experience managing stock-based businesses.

 

We know the pain that a lack of systems and processes can cause.

 

We know what it’s like to be a Sales Manager when your reps are missing out on commissions as a result of stock delays or outages.

 

We know why your Operations or Production Manager is pulling their hair out with production delays.

 

Not fun!

 

If you know what you need, great! Let’s have a chat and see if Fishbowl can meet these requirements.

If you know you need something, but are unsure where to start and what is right for your business, even better as this is what we are here to help you with.

Everyday we are speaking with Australian and New Zealand businesses, working together to create the perfect ecosystem of Fishbowl products that suits their specific business needs.

Talk to us today so we can show you how Fishbowl can assist on all of the above and much more.

2) Download the free 14-Day trial

You can try the full Fishbowl Inventory software absolutely free. Easy to download, the trial comes loaded with parts, customers, suppliers, bill of materials, and more.

You can load your own items if you wish, or simply play with the trial to run through your complete business workflow.

3) Book a personalised Demo

Even better than playing with the free trial, is to book a time for a personalised demo where you can see Fishbowl in action for your businesses workflow.

 

This is a personalised one-on-one meeting where we will discuss your current needs and frustrations and show you how Fishbowl Inventory and the eco-system of integrated programs can build the solid platform that your business needs to grow.

 

We know that every stock-based business is different. It is for this reason that Fishbowl is very popular as it is very flexible in application. If we say Fishbowl can do something, we will show you this during your personalised demo.

 

You can schedule a time for your personalised demo right here. 

Want to learn more about Fishbowl Inventory? 

Fishbowl Inventory is a world leader in Inventory management, manufacturing, and warehouse management system. We can help smooth the process for you and your supply chain, increase efficiency and fatten your bottom line. 

All the features of our software can be found right here.

You can request a free demo from us, or if you’d like to speak to one of our friendly and knowledgeable team, call us on 1300 785 755.

CONTACT US

Fishbowl has been successfully developing and implementing inventory management software for 20 years!

Fishbowl Inventory Logo

1300 785 755 (AU) or 0800 785 755 (NZ) 

solutions@fishbowlinventory.com.au

www.fishbowlinventory.com.au

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