If someone tells you they have special software that makes inventory management as easy as pushing a button, my advice to you is to run in the opposite direction. Sure, inventory management doesn’t have to be the hardest thing in the world to do, but anyone who promises to make it easy has probably never done it himself.
I search the Web for the keywords “inventory management” all the time, and I’ve come across quite a few articles and blog posts with headlines declaring inventory management is made easy with this or that software. It gets kind of ridiculous after a while.
What Is Inventory Management?
Maybe the problem is that people get so caught up in writing about how to make inventory management easy that they forget about the basics that make up what inventory management is.
Here is my definition of inventory management: The proactive planning and control of how many products are kept in stock at specific locations.
This definition makes inventory management sound fairly simple. It doesn’t include its goal, which is to balance your inventory and capital needs by keeping enough products on hand, but not having too many. Do you have other things you would like to add to this definition? Feel free to let me know in a comment below.
From Simple to Complex
For startups, the task of keeping your inventory balanced is much less complex than it is for large companies. You probably have a small product lineup and just one location to store your inventory at. As your company grows and you face new challenges, you can turn to inventory asset management software to ease the burdens of inventory management.
Inventory management software helps you locate inventory, cycle through perishable goods, ship products to customers quickly, and reorder products when they get low so you’ll avoid stockouts. You still have to put forth the effort to manage your inventory. Inventory management software simply gives you the tools to gather information and coordinate your efforts.
Returning to my point at the start, I’ve done my best not to fall into the trap of making foolish promises on this blog just to get your attention (this blog post’s headline doesn’t count because it’s satirical). That said, I can promise you greater efficiency and less wasted time and money if you use Fishbowl’s inventory management software. Get a free trial to see what I mean.