25 min
Taking Stock: Inventory Innovations in the Information Age Paychex THRIVE, a Business Podcast
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- Management
Any business selling products is dependent on inventory management to fulfill customer needs, but many companies haven’t mastered this critical aspect of operations. Hear Lucas Miller, vice president of implementation for Fishbowl, the global leader in inventory control solutions, explain best practices in stock management, trending innovations, and key metrics that can empower smarter inventory planning and leaner warehousing. Further, learn why the shift to automated stocking software calls for veteran staff at the helm, and how pain points in managing inventory data can point to a need for improved business processes.
Topics include:
3:23 - Supply chain shortages reveal inventory management challenges4:57 - How has physical counting changed today?7:26 - Barcoding is about accuracy, not speed9:32 - QR codes: trend vs. traction11:02 - How does RFID differ? What's the forecast for RFID?12:49 – Avoiding the challenge of overstocked obsoletion15:25 - Robotics, automation impact on manufacturing17:22 – Process changes necessary for modern inventory automation21:00 - Key inventory metrics: ABC codes, reorder levels
Resources:
As you manage inventory, you’ll need to understand the cost of goods sold. Learn more at: www.paychex.com/articles/finance/what-is-cost-of-goods-sold.Explore inventory management software at: http://FishbowlInventory.com
Is there a topic or guest you’d like to submit for the show? Send in your ideas at: http://payx.me/thrivetopics
DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Any business selling products is dependent on inventory management to fulfill customer needs, but many companies haven’t mastered this critical aspect of operations. Hear Lucas Miller, vice president of implementation for Fishbowl, the global leader in inventory control solutions, explain best practices in stock management, trending innovations, and key metrics that can empower smarter inventory planning and leaner warehousing. Further, learn why the shift to automated stocking software calls for veteran staff at the helm, and how pain points in managing inventory data can point to a need for improved business processes.
Topics include:
3:23 - Supply chain shortages reveal inventory management challenges4:57 - How has physical counting changed today?7:26 - Barcoding is about accuracy, not speed9:32 - QR codes: trend vs. traction11:02 - How does RFID differ? What's the forecast for RFID?12:49 – Avoiding the challenge of overstocked obsoletion15:25 - Robotics, automation impact on manufacturing17:22 – Process changes necessary for modern inventory automation21:00 - Key inventory metrics: ABC codes, reorder levels
Resources:
As you manage inventory, you’ll need to understand the cost of goods sold. Learn more at: www.paychex.com/articles/finance/what-is-cost-of-goods-sold.Explore inventory management software at: http://FishbowlInventory.com
Is there a topic or guest you’d like to submit for the show? Send in your ideas at: http://payx.me/thrivetopics
DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
25 min