Fishbowl Inventory System Essay

939 words - 4 pages

Fishbowl Inventory
Peter Ruble
QRB/501
06/06/11
Dr. David Pardo

Abstract
The following paper will describe the Fishbowl Inventory Software system which is used by small, medium and large businesses to manage their inventory data. It will explain how the system works and what employees need to know in order to use it effectively. It will also explain the advantages and disadvantages of using the software.

As a result of the Fishbowl Inventory System, Macy’s gross margin of 39.94%
has increased 13 points year after year (Lockard, R. 2010). This inventory system, which integrates with QuickBooks, has helped Macy’s maintain a precise inventory count over the different holiday ...view middle of the document...

To help determine how to price products based on how they’re packaged, Fishbowl allows a user to set up a measurement equation to store inventory that comes in the form of pallets, boxes, etc. For example, if there is a discount on an item if it’s purchased in bulk, the seller won’t have to worry about pricing each item individually.

Advantages and Disadvantages of Fishbowl
The first advantage is that it integrates with QuickBooks. Most businesses use QuickBooks to organize their business data. With Fishbowl, it takes it to another level by automating some of the business transactions, such as reordering. Fishbowl makes businesses more efficient. With Fishbowl, employees don’t need to spend time manually updating inventory records into QuickBooks. This is done automatically with Fishbowl. There is also no need to worry about counting inventory, as the barcode scanning process takes care of that.
Fishbowl has a creative team that is always looking for ways to update its software. With Fishbowl Inventory 2011, the sales order data is directly linked to the data about the manufacturer. Also, delivery and payment information can be imported and exported. If you don’t have an association with a vendor, Fishbowl’s software can create a “default vendor”. This saves time since you don’t have to manually add the vendor data after inputting the sales order data.
Social media is the most powerful tool for Internet marketing today. Fishbowl offers the advantage of a customized, automated internet marketing system using platforms such as Face book and Twitter. Many Fishbowl users are restaurant owners who enjoy Fishbowl’s automated marketing program. Fishbowl has a Face book application that allows a business to place a button on their business homepage allowing millions of Face book users to join the “guest” program. Members of this program are...

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