Supermarket Perimeter - February 2020 - 69

TECHNOLOGY

which is the top QuickBooks
add-on in the industry,
Phillips says.
The company's clients are
typically small or medium-sized
businesses, companies that are
already using QuickBooks. One of
the things that Phillips stresses for
commissaries, central kitchens
and other similar facilities that
are thinking about adopting
an inventory control software
platform, is that it may not be as
expensive as they think.
Sure, companies can easily
spend six ﬁgures and up on SAP
and other platforms. But if they're
not too big, Fishbowl will likely
have a solution in the $5,000 to
$30,000 range.
In 2020 Fishbowl expects to
focus not so much on new products, Phillips says, as on adding
different features to current
products.
"That's what drives us
more than anything," he says.
"Everything's getting more and
more cloud-based, so we're
providing more solutions for that.
Last year we improved our work
order processing, adding even
more steps and instructions,
better images, etc. So a manufacturer can say, 'This is how you
make a cookie, with step by step
instructions. We have a bunch
more new features like that coming out."

Unleashed Software on
"The Misconceptions
and Myths of Inventory
Management"
Inventory management is the art
of striking the perfect balance
between production of goods
and the demand for them, and it
plays an integral role in keeping
businesses aﬂoat. Taking care
of your inventory means having
systems in place for overseeing,
controlling, storing and delivering
your products to consumers.

Using inventory control software to manage recipes is a great way to reduce waste in commissaries.

Creating streamlined systems
to manage your inventory stock
can be a challenge and there are
a few myths circulating on how
it should get done. Let's break
down some of the common misconceptions and myths.

Myth 1: You don't
need inventory
management software
Small companies often think that
their books and inventory stock
are manageable with a spreadsheet or pen and paper. After all,
there isn't that much to look after,
right? On the contrary, inventory
management software is critical
for both small and large businesses. This software can streamline
processes and keep inventory
history in an organized and accessible space.
Moreover, inventory management software can help your
business grow. With software
like this in place when you are
small, it sets you up to scale

your endeavor. It is responsive to
change and can manage bigger
numbers with ease. It keeps all
data in a centralized location
which allows you to look back on
previous reports. These reports
can help with future planning
and forecasting demand.

Myth 2: It can be
implemented after a
business has started
Many companies try to get their
business underway and then
organize the inventory management later down the track.
Unfortunately, this can lead to delays and complications with your
product. It's extremely important
that inventory management is set
up before you get started. This
way when goods and materials
start coming in, you are already
organized. If you try to implement a system after you already
have a stack of inventory, it can
be chaotic and inefficient. This
way everything is tracked as it

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comes in the door and it is traceable through its entire journey.

Myth 3: It's separate
from sales forecasting
Forecasting is a big part of any
business as it helps them plan
and prepare for the future. When
predicting consumer demand, inventory management needs to be
factored into the equation. With
the right tools, you can look back
on previous sales and inventory
history. You can derive patterns
with this information and use it to
sculpt your forecasting.
Misconceptions and myths
about inventory management
can cause negative impacts on
business operations. With the
right software, your business can
remain competitive, proﬁtable
and very informed.
Inventory management specialist
Unleashed Software is a multi-national company with U.S. headquarters in San Francisco.
FEBRUARY 2020 - 69

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Supermarket Perimeter - February 2020

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