What Is Inventory Management? - Whiteboard Wednesday

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  • เผยแพร่เมื่อ 15 ต.ค. 2013
  • Get Your Free Inventory Management Guide: www.fishbowlinventory.com/inv.... What is inventory management? It could quite possibly be the most important aspect of any business because it affects every area of operations from sales to accounting to management to customer service.
    Fishbowl CMO Kirk Tanner takes the enormous concept of inventory management and explains how it all works, including the receiving, shipping, accounting, and distribution processes. As a bonus, he compares a manual inventory management system and an automated inventory management system to see what the pros and cons of each are.
    Fishbowl's Whiteboard Wednesday covers complicated inventory management topics in fairly simple terms that fit on a whiteboard. Fishbowl Inventory is the most requested inventory management solution for QuickBooks users.

ความคิดเห็น • 74

  • @marinanarra4600
    @marinanarra4600 3 ปีที่แล้ว +3

    This is like helping me with my small business and school studies , im a young business owner so this is helping a lot thank you!

  • @lvteachme973
    @lvteachme973 3 ปีที่แล้ว +2

    Thorough, concise and short. And I like the use of whiteboard. Thanks!

  • @sethandmyrcine
    @sethandmyrcine 8 ปีที่แล้ว +44

    I work for a pretty big company and we do inventory manually this is a great video and I really wish my bosses would understand this concept

    • @socialentertainment7559
      @socialentertainment7559 ปีที่แล้ว

      Where do you work?

    • @benjamingreer1660
      @benjamingreer1660 8 หลายเดือนก่อน +1

      Don't forget about the employees 🤣 I've had new bosses every year 4 years running now. Ifeel your pain, I think the ones I got get it now though fr.

  • @kaseyingham395
    @kaseyingham395 3 ปีที่แล้ว +6

    So quick and concise while I study for my Information Systems midterm in an hour. Thank you!!

  • @hetpatel9369
    @hetpatel9369 4 ปีที่แล้ว +2

    Thank you for explaining the concept clearly.

  • @andrewfrancis3683
    @andrewfrancis3683 8 ปีที่แล้ว +8

    This helped me a lot. I had an idea but now I am fully clear on what inventory management is about.

    • @matthewcheng9709
      @matthewcheng9709 5 ปีที่แล้ว +1

      www.hencodes.com (Handheld PDAs/Terminals for Inventory management System/Warehouse Management System)
      Matthew Cheng
      Project Manager

      Hencodes Technologies Inc.
      Web: hencodes.com
      Mobile:008615975521916
      Skype/Whatsapp:008615975521916
      Email: matthew@hencodes.com/matthewobm@aliyun.com

  • @dukefernando6956
    @dukefernando6956 7 ปีที่แล้ว +1

    Thank you sir,, you will get me through the exam tomorrow

  • @priscillasibanda8079
    @priscillasibanda8079 4 ปีที่แล้ว

    this has helped me to have an insight what inventory management is.

  • @monhectorabalos4284
    @monhectorabalos4284 3 ปีที่แล้ว +1

    Thank you for making youtube.. I'm applying as inventory clerk and review about the idea of inventory and warehouse system...

  • @bittersweeter5882
    @bittersweeter5882 8 ปีที่แล้ว +5

    This helped my dad a lot thx for the presentation !

  • @amandapaniagua5705
    @amandapaniagua5705 2 ปีที่แล้ว

    Simple and accurate- thanks for the informative video!

  • @jeevanpatnaik12
    @jeevanpatnaik12 8 ปีที่แล้ว +1

    thnx for the good info ,,it is very useful to me for my exams

  • @neetrab
    @neetrab 3 ปีที่แล้ว

    Very clear! Thank you!! Now I know!!

  • @kunalyadav9751
    @kunalyadav9751 8 ปีที่แล้ว +3

    great work

  • @UnknownUser-mi7vh
    @UnknownUser-mi7vh ปีที่แล้ว

    Very informative. Thank you.

  • @PairRecVideos
    @PairRecVideos 3 ปีที่แล้ว

    Nice video Kirk!

  • @spirecrmbusinesswareforsag2451
    @spirecrmbusinesswareforsag2451 7 ปีที่แล้ว +14

    A stock control system is the mechanism through which a company manages the efficient movement and storage of its goods, flow of information and resources that arise from this.
    By having a stock control system to manage your stock you will meet two important decision factors: the classification of inventory and reliability records, which mean that is important to know how much you have in your stock as ability to identify each of the products you handle in your company.

    • @matthewcheng9709
      @matthewcheng9709 5 ปีที่แล้ว

      www.hencodes.com (Handheld PDAs/Terminals for Inventory management System/Warehouse Management System)
      Matthew Cheng
      Project Manager

      Hencodes Technologies Inc.
      Web: hencodes.com
      Mobile:008615975521916
      Skype/Whatsapp:008615975521916
      Email: matthew@hencodes.com/matthewobm@aliyun.com

  • @alparslankorkmaz2964
    @alparslankorkmaz2964 3 ปีที่แล้ว +2

    Nicely explained.

  • @DodaGarcia
    @DodaGarcia 2 ปีที่แล้ว

    That was so interesting!

  • @routhuvasu4022
    @routhuvasu4022 7 ปีที่แล้ว +1

    thank you so much

  • @Isaac-xw9en
    @Isaac-xw9en 4 หลายเดือนก่อน

    Very helpful. Thanks!

  • @rahulagrawal1877
    @rahulagrawal1877 7 ปีที่แล้ว +2

    method of keeping inventory control of stock and storage plz. explain 🤔

  • @JA17Believe
    @JA17Believe 3 ปีที่แล้ว +1

    Can anyone answer this? How would scanning on step one be done if there are price changes for parts that are already logged in system? Also when doing automated system would that cancel out need to enter in invoices and we just file them away?
    Trying to figure out an automated method that keeps cost accounting to be perfect when charging out (shipping) parts to work orders

  • @humanresourcemanagement4293
    @humanresourcemanagement4293 2 ปีที่แล้ว

    Nicest explanation of this topic ........

  • @arvinnabil1714
    @arvinnabil1714 3 ปีที่แล้ว +1

    Thank you so much

  • @dunkbroda3211
    @dunkbroda3211 ปีที่แล้ว +1

    Do you recommend any books to read up on inventory management?

  • @mercydaniel2793
    @mercydaniel2793 2 ปีที่แล้ว

    Good presentation

  • @MuhammadAli-bp3sl
    @MuhammadAli-bp3sl 4 ปีที่แล้ว

    plz sir also make a presentation about construction company store, where is an open environment, how we can control our items eg diesel , steel, and how can better manage inventory in construction projects

  • @anoopcbose9700
    @anoopcbose9700 3 ปีที่แล้ว

    Good information

  • @hyrclov
    @hyrclov 4 หลายเดือนก่อน

    great stuff

  • @farzadqurbanyar9946
    @farzadqurbanyar9946 3 ปีที่แล้ว

    THAT WAS SPECIAL

  • @emelynordejan8817
    @emelynordejan8817 5 ปีที่แล้ว

    Thamk you

  • @nischalshah8902
    @nischalshah8902 5 ปีที่แล้ว +2

    Inventory management for retail store business..... ideal stock in % to sales ...

    • @matthewcheng9709
      @matthewcheng9709 5 ปีที่แล้ว

      www.hencodes.com (Handheld PDAs/Terminals for Inventory management System/Warehouse Management System)
      Matthew Cheng
      Project Manager

      Hencodes Technologies Inc.
      Web: hencodes.com
      Mobile:008615975521916
      Skype/Whatsapp:008615975521916
      Email: matthew@hencodes.com/matthewobm@aliyun.com

  • @shibnathroy106
    @shibnathroy106 6 ปีที่แล้ว

    Thank you

  • @teferiolana1720
    @teferiolana1720 3 หลายเดือนก่อน

    Please can you share me ,any referance on inventory management performance on laboratory commodity ?

  • @mahnaztajbakhsh6632
    @mahnaztajbakhsh6632 8 ปีที่แล้ว +2

    we have a lots of productions (cream all kind of beauty productions) which we have no control on them,in other branches how can i get control of my productions and manage to know how many is used and how many is left ,without letting employees to take away or sale it for themselves and put the money in their packet or you know how can i control them?!

    • @RSHariPrasad
      @RSHariPrasad 6 ปีที่แล้ว +2

      Hi Mahnaz,
      As a supervisor for warehouse, first suggestion to you is hire trustworthy labour or people who is hardworking and of course we never know who is what type of character until we monitor.
      Secondary, If you are using any software ( Example Cosmos or GSPN ) which allows you to have track of your products, Goods receipt is one paper that will definitely help you, while arranging it inside helps with in warehouse ( Note : while arranging it you need to ask employees to open the box and cross check if the products inside are ok and quantity is ok, not damaged etc )
      Stock analysis is very important, If system shows that products are inside warehouse, but for real time when you ask them to pick up from shelf and if the products are missing on constant basis which means there is someone...
      Ask every warehouse supervisor to submit the report by end of the day how many products or items they have received with in warehouse, that means they know that you are asking them for constant updates and also monitoring.
      Don't procure to many products when it's not necessary, if you do it's going to sit ideal inside your warehouse resulting loss for your company or you need to resale or scrap it which is bad,
      Hope one of the points listed above will help you
      Hari

  • @nextto6789
    @nextto6789 4 ปีที่แล้ว +2

    لااله الاالله محمد رسول الله

  • @bb_yt5193
    @bb_yt5193 3 ปีที่แล้ว

    Nice

  • @michaelbarasa7540
    @michaelbarasa7540 4 ปีที่แล้ว

    Good

  • @waleedSamiRwR
    @waleedSamiRwR 4 หลายเดือนก่อน

    بالتوفيق😊

  • @rimfunyui5038
    @rimfunyui5038 6 ปีที่แล้ว

    HOW CAN I DEVELOPE AN INNOVATIVE SCHOOL INVENTORY PROJECT

    • @thebolivei
      @thebolivei 6 ปีที่แล้ว

      Rim Funyui I can help you out send me an email with your questions bolivei@outlook.com 😀

  • @stomiball889
    @stomiball889 4 ปีที่แล้ว

    Do yu still do this kinda content

  • @ms_riderz
    @ms_riderz 6 ปีที่แล้ว +1

    It is too short to understand inventory management... It's very broad topic

  • @richie6921
    @richie6921 2 ปีที่แล้ว

    FILO, LIFO, and there was another one that I can't remember

  • @LeoNogas
    @LeoNogas 2 ปีที่แล้ว +1

    Thumbs up if you're here for class.

  • @ahmadlenovo68
    @ahmadlenovo68 4 ปีที่แล้ว

    Gak ngerti cuk

  • @melissaann205
    @melissaann205 ปีที่แล้ว

    Bye bye birdie

  • @asadsyedali3841
    @asadsyedali3841 ปีที่แล้ว

    Not a good explaination

  • @t624mohammediqbalaeronauti3
    @t624mohammediqbalaeronauti3 ปีที่แล้ว

    wow awful explanation