Quick Tips: Setting Part Reorder Levels

Here is a few quick tips for you out there that wish to set up Part Reorder Levels. 

Reorder levels with Fishbowl

In this post we will go over the differences between Reorder Levels and Reorder Points, and how to create your Reorder Levels 3 Different Ways. As always if you have any questions related to Fishbowl don’t hesitate to call the office on 1300 785 755 in Australia and 0800 785 755 in New Zealand and one of our helpful support team members will be able to give you a hand.

Reorder Levels vs. Reorder Points

Reorder points are certain quantities of inventory that, when reached, trigger the process of purchasing more stock to reach a certain level. So when the total number of parts in stock gets down to the reorder point, you’ll know it’s time to reorder more of the parts.

Let’s make sure we’re all clear about the difference between Reorder Levels and Reorder Points.

Reorder Levels are made up of two things:

  1. Reorder Point: The minimum number of items in stock that marks the point at which they must be reordered to avoid running out.
  2. Order Up to Level: The maximum or preferred number of items that can be contained in stock. The reorder quantity shouldn’t be higher than this number.

You can run a Reorder Report from the Report module to produce a list of all the items in your inventory that have reached their reorder point. It will also show you how many to reorder to return to the proper level.

You can use reorder levels to automatically generate purchase orders for the necessary number of parts to get them back to the desired quantity through the Auto PO wizard. If you’re a manufacturer, you can also use reorder points to automatically generate manufacture orders for the desired quantity using the Auto MO wizard.

3 Ways to Create Reorder Levels

Here are the three methods by which you can create reorder levels:

1. Use a Reorder Levels CSV Import to create multiple reorder levels.

2. Use the Auto ROP wizard to automatically set multiple reorder levels at the same time.

3. Click the Inventory tab in the Part module to create and edit single items’ reorder levels.

Let’s delve into these three methods a bit more closely to give you an idea of how to do them and where to find them in the interface:

1. CSV Import

Click the File button at the top of the interface and then select the Import option. This will pull up a friendly Import wizard to guide you through the process of importing data on reorder levels via Excel spreadsheets. It tells you how to format the data and other essential things to follow

2. Auto ROP Wizard

The Auto ROP wizard is located in the toolbar on top of the interface. Simply click on it and it will bring up a new window to help you specify the right parts you’re looking for and calculate their reorder levels, based on a number of factors. I could spend an entire blog post explaining all of this, but to keep it brief I’ll just have to cut it short here and direct you to the Fishbowl Wiki for detailed instructions on using the Auto ROP wizard.

3. Inventory Tab

There are several tabs located at the top of the Part module, including General, Details, Accounts, and Inventory. Click the Inventory tab and you’ll be able to see detailed information about a particular part, including the number on hand, on order, allocated, committed, backordered, and so forth. You’ll also find a helpful section at the bottom with information about the item’s location, order up to level, and reorder point. You can adjust this information right there.

Look out for this Quick Tips Every Thursday where we delve into commonly asked questions and helpful hints to make sure you are getting the most out of Fishbowl inventory and manufacturing software.

At a Glance: Comparing Fishbowl and Reckon Accounts Enterprise Edition (Part 3: Plugins and Modules)

In this third and final part of the comparison between Fishbowl and Reckon Accounts Enterprise, we’re going to address Fishbowl’s numerous modules and plugins, both off the shelf and custom solutions.

Actually, these are all unique to Fishbowl and a big reason why Fishbowl is the business automation solution for Reckon Accounts and Xero. They are not also present in Reckon Accounts, so we’ll simply address them in Fishbowl and avoid constantly repeating the fact that they are unavailable in Reckon Accounts Enterprise.

inventory management add for reckon accounts comparison

Integrated Fishbowl Products

In addition to Fishbowl Manufacturing and Fishbowl Warehouse, Fishbowl offers many other solutions that integrate with its core software products. These solutions offer many useful features that can help growing businesses as their requirements increase and change over time. Fishbowl’s solutions include:

Fishbowl Anywhere: A plugin that allows Fishbowl Manufacturing and Fishbowl Warehouse to be accessed via a Web browser.

Fishbowl Go: An app that allows for barcode scanning to take care of the physical aspects of warehouse management, such as cycle counting, receiving, picking, packing, and shipping.

Fishbowl Commerce: An online hub that synchronizes inventory quantities and sales across a great number of e-commerce channels so you don’t have to manually update each one.

Fishbowl Time & Labor: An online employee time clock solution that helps with Timehseets, PTO, manufacturing labor costs, and more.

Fishbowl Checkout: A point of sale solution that allows credit card, cash, and other payments to be processed and added directly into Fishbowl Manufacturing and Fishbowl Warehouse.

Fishbowl Modules

These are all add-on modules that can be installed and activated from the Plugin module in Fishbowl:

Forecast Module: Data on past sales and orders is used to project upcoming inventory quantities, costs, and sales.

Sales Data Module: Sales revenue and counts are displayed on a world map, which users can zoom in and out of.

Data Module: You can use this to view, gather, and export data from the Fishbowl database, but you can’t update data in this module.

Monitor Module: The quantities of several parts can be viewed at the same time and constantly checked to make sure they remain healthy.

Consignment Module: You have the ability to track inventory that is consigned to third-party sellers and sold by them.

Software Plugins

These are just a few of the business solutions that Fishbowl offers plugins for. With all of these integrations, Fishbowl becomes a business automation platform, facilitating the free flow of information on inventory quantities, orders, and more between numerous online and desktop platforms. Here they are:

  • 3dcart
  • Amazon
  • Avalara
  • BigCommerce
  • eBay
  • Dropbox
  • LemonStand
  • Magento
  • Salesforce
  • ShipStation
  • Shopify
  • SolidWorks
  • Volusion
  • WooCommerce
  • X-Cart
  • Zen Cart

Beyond Compare

As you can see from these three blog posts, Fishbowl holds its own and even over-performs when compared to the inventory management features of Reckon Accounts or Xero. Fishbowl is the perfect business automation platform to work with Xero or Reckon Accounts, which makes sense because Fishbowl adds so much to the popular accounting software.

Users of Xero or Reckon Accounts users don’t have to learn an entirely new accounting system in order to gain access to the manufacturing and warehouse management features they need to do their jobs more effectively. Fishbowl can handle most small business requirements and allow them to stay with their preferred accounting application for many years. That kind of savings and efficiency is beyond compare!

Sign up for a free trial of Fishbowl today.

Don’t be Spooked about Inventory Management Software This Halloween

Imagine trying to manage your inventory without inventory management software? Now that is a very scary thought.

inventory-management-software-halloween

Here are five ghoulish prospects you face when you do this:

Double Data Entry

Inventory management does not have to be frightening, Fishbowl allows you keep track of inventory on Excel spreadsheets or on a notepad, you face the daunting task of remembering to update your records by hand every time you make a sale, place an order, and transfer products to a different location. Plus, you have to enter the same information into your inventory system as well as your accounting software because the two are not integrated.

All of this back-and-forth can create a tangled web of information that’s stored all over the place.

Data Entry Errors

When you manually enter inventory numbers in an Excel file or on a piece of paper, you run a huge risk of errors creeping in. Even the best typist makes mistakes from time to time, and there’s little room for error when it comes to inventory and accounting numbers. A misplaced digit here and there can give you a pretty skewed idea of how much inventory you have on hand, which often results in misguided business decisions.

You don’t want to open the door to strange numbers.

Lost Inventory

If you don’t have a way of tracking inventory, such as with lot numbers, barcodes, serial numbers, etc., things can get lost pretty easily. During the receiving process, if a warehouse worker doesn’t know where to put new items inside a giant warehouse, that will make it extremely difficult to find them later on.

Valuable inventory can begin to vanish into thin air.

Overstocks and Shortages

When you don’t have access to in-depth charts and reports, it can be easy to miss seasonal trends and other changes in buying habits from year to year. Then, when demand for certain products either increases or decreases dramatically, you could be stuck in a bind.

Now you know how a mummy feels.

Wasted Time

Poorly planned picking paths, inefficient warehouse layouts, and long receiving procedures are just a few of the ways that companies often end up wasting time and money with an outdated inventory management system. Inventory management software can help you solve all of these problems by mapping out a picking path to collect items for multiple orders at the same time, set up your warehouse to maximize efficiency, and speed up the receiving process.

Don’t let old ways of doing business suck the lifeblood out of your company.

Inventory management software saves your business from a lot of scary problems. You should not have to worry about double data entry, data errors, lost inventory, overstocks and shortages, or wasted time when it comes to managing your inventory.

Hope you had a happy Halloween! And let Fishbowl help you learn some new tricks to track your treats from here on out.

This post comes from Robert Lockard out the US fishbowl office.

Inventory and Manufacturing Management Software New Handy Hints Videos

Here are some new handy hint videos that will take an overview on what inventory management software and manufacturing software can do for your business and how simple yet deep the Fishbowl advanced inventory system is.

Manufacturing Management Software Handy Hints

Inventory Management Software Handy Hints

Small Business Inventory Management Software Advice

This small business inventory management software post comes from Robert Lockard in the United States.

  • 80 percent have 50 or fewer employees
  • 10 percent have 51-100 employees
  • 10 percent have 101-500 employees
  • 1 percent have 501 or more employees

Before you point out that these percentages combine to equal 101 percent, keep in mind that these are whole numbers, so a little rounding error is to be expected.

It’s not hard to figure out why these numbers are skewed toward smaller businesses. There are more small businesses in the U.S. than larger ones. Plus, larger businesses are usually committed to an ERP or an inventory solution that they’ve been using for years and aren’t looking to switch anytime soon.

Small-business owners want to make a software purchase right now and then stay with that software through many years of company growth. That way, they don’t have to stop everything and go through the expense and time to find and learn a new solution when they’ve outgrown their old one’s features.

As I’ve mentioned many times before, Fishbowl fits that bill to a T. It’s designed to be usable and affordable for small businesses, and it also has the option to add more advanced manufacturing and warehouse management features in the future when you need them.

Schedule an inventory software demo today to learn more about Fishbowl’s specific features. Fishbowl Manufacturing and Fishbowl Warehouse can help you, whether you have a dozen employees or hundreds. And we’ll be there for the long haul, too.

Share