Why Inventory Management Is So Important

In the Prairie Business article, “The importance of inventory management,” author Matthew Mohr describes a common problem all businesses must solve – how to maintain the right balance of products on hand.

Puzzle piece, Fishbowl Blog“Inventory is often one of the biggest financial commitments a business must make,” Mohr says. With this in mind, it’s easy to see why business inventory management is so essential.

Mohr makes the point that companies often prefer to stock up on a large amount of inventory for fear of losing a sale because they don’t have enough inventory to fill an order immediately. Unfortunately, this strategy can backfire. Companies can wind up losing money on their large inventory if their customers’ tastes change dramatically, making their inventory obsolete or worthless.

The point is companies often can’t effectively control their inventory levels without some form of inventory management software. The most popular manufacturing and warehouse management solution for QuickBooks is Fishbowl. It helps small businesses manage their current inventory and plan ahead for all of their inventory needs.

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About Robert Lockard

Robert Lockard is a copywriter with Fishbowl. He writes for several blogs about inventory management, manufacturing, QuickBooks and small business. Fishbowl Inventory is the #1-requested inventory management software for QuickBooks users. Robert enjoys running, reading, writing, spending time with his wife and children, and watching movies. His favorite movies include Mr. Smith Goes to Washington, Fiddler on the Roof, Back to the Future and Lawrence of Arabia.
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