Inventory Control Options
Wh
Q i kB
k
L
C
l
When
QuickBooks
Loses Control
Presented by
Inventory Control Options
Wh
Q i kB
k
L
C
l
When
QuickBooks
Loses Control
Topics Today
Topics Today
• Inventory Control QuickBooks y Provides
• Inventory Control QuickBooks Lacks
• What Are The Options When QuickBooks Falls Short? • Share our Experience with QuickBooks Add-Ons forShare our Experience with QuickBooks Add-Ons for
Our Perspective
Our Perspective
Business Management & Systems Consultants
Business Management & Systems Consultants
• Experts in automated systems for accounting, inventory control, ERP, ecommerce and CRM.
• Track record of big gains in productivity and efficiency from • Software and systems technology
St li i k fl d
• Streamlining work flow and process
• Integrating accountability, visibility, measurement, and alerting • Really really good with Distribution and Manufacturing
• Really, really good with Distribution and Manufacturing companies.
• Experts in QuickBooks Peachtree MAS90 MAS200 FishbowlExperts in, QuickBooks, Peachtree, MAS90, MAS200,Fishbowl, Sage CRM, Saleslogix and other Business Management software,
Inventory Control Options
Wh
Q i kB
k
L
C
l
When
QuickBooks
Loses Control
• Inventory Control QuickBooks Provides
• Inventory Control QuickBooks Lacks
• What Are The Options When QuickBooks Falls Short? • Share our Experience with QuickBooks Add-Ons for
Many People
L
Q i kB
k
Love
QuickBooks
F
ili
• Familiar
• Easy To Use
• Popular
• Abundant Help Resources
Abundant Help Resources
• Other Good Stuff
QuickBooks
Does Have
Elementary Inventory Control
In entor Items
• Inventory Items
• OnHand Counts
O S l
O d
C
t
• OnSalesOrder Counts
• OnPurchaseOrder Counts
• Average Costing
• Inventory Valuation
• Unit of Measure (limited)
• Assemblies (limited)
Inventory Control Options
Wh
Q i kB
k
L
C
l
When
QuickBooks
Loses Control
• Inventory Control QuickBooks Provides
• Inventory Control QuickBooks Lacks
• What Are The Options When QuickBooks Falls Short? • Share our Experience with QuickBooks Add-Ons for
QuickBooks
Does
Not
Have
FIFO/LIFO/Standard Cost
• FIFO/LIFO/Standard Cost
• Lot/Serial Tracking
M lti l W
h
(
*
)
• Multiple Warehouses (
*
)
• Multiple Bins & Locations
• Drop Ship
• Landed Cost
• Other Important (Basic) Inventory Functions
Inventory Control Options
Wh
Q i kB
k
L
C
l
When
QuickBooks
Loses Control
• Inventory Control QuickBooks Provides
• Inventory Control QuickBooks Lacks
• What Are The Options When QuickBooks Falls Short? • Share our Experience with QuickBooks Add-Ons for
What Are The Options
When
QuickBooks
Falls Short?
A Li e
ith the conseq ences
A. Live with the consequences
B. Switch to Mid-Market Software
C Add I
t
C
t l l
i
t
C. Add Inventory Control plug-ins to
QuickBooks
What Are The Options
When
QuickBooks
Falls Short?
A Live With the Consequences
• Excel Spreadsheets –
attempting
I
t
C
t l
A. Live With the Consequences
Inventory Control
• Lots of Manual Tracking and Work
• Unreliable Inventory Balances
• Too much of the wrong inventory
• Not enough of the right inventory
• Excessive Ship-Shorts, Ship-Lates
Business Management Systems & Consulting
What Are The Options
When
QuickBooks
Falls Short?
A Li e
ith the conseq ences
A. Live with the consequences
B. Switch to Mid-Market Software
C Add I
t
C
t l l
i
t
C. Add Inventory Control plug-ins to
QuickBooks
What Are The Options
When
QuickBooks
Falls Short?
B Upgrade to mid market software
B. Upgrade to mid-market software
W • Challenges/Costs O i ti l R i t We •Organizational Resistance • Transition Costs • Software QuickBooks • Implementation • Data Conversion • Training • Training
• Procedural and Organizational Changes
What Are The Options
When
QuickBooks
Falls Short?
B Upgrade to mid market software
B. Upgrade to mid-market software
• Benefits
• Robust Full-FeaturedRobust, Full Featured Inventory Control
• Framework to “turn-on” or integrate dditi l t ti
additional automation.
• Better tools to manage and grow
the business-- not just report
historical activity
• Advanced automation and integration, to cut costs and boost profits
What Are The Options
When
QuickBooks
Falls Short?
A Li e
ith the conseq ences
A. Live with the consequences
B. Switch to Mid-Market Software
C Add I
t
C
t l l
i
t
C. Add Inventory Control plug-ins to
QuickBooks
What Are The Options
When
QuickBooks
Falls Short?
C. Add Inventory Control
y
Plug-Ins
g
to QuickBooks
• Intuit Offerings
• Intuit Warehouse Management ES (SAAS)
• Formerly Velocity
• Later rebranded as IWM ES (SAAS)Later rebranded as IWM ES (SAAS) • Recently Abandoned by Intuit
• Accucode (publisher) now supports? • Intuit Advanced Inventory (QBE V11) • Intuit Advanced Inventory (QBE V11)
• Warehouses, but still limited • QBE Enterprise, V11 only
What Are The Options
When
QuickBooks
Falls Short?
C. Add Inventory Control
y
Plug-Ins
g
to QuickBooks
(Continued)
• Third-Party Plug-Ins • Acctivate
• Advanceware
• Fishbowl InventoryFishbowl Inventory • Other
Inventory Control
When QuickBooks Falls Short
• Fishbowl is the #1 Add-On to
QuickBooks for Inventory Control
• Other add-ons also enhance QuickBooks
• We will use Fishbowl Inventory to demonstrate what is available
Re-introduce Chris Steele
• Software Certifications and Experience B kk i /A ti E ti
• Bookkeeping/Accounting Expertise • Operations Review, Training and
Cleanup p
• Software Implementations • Accounting
• Inventory ControlInventory Control • ERP
Inventory Control Options
When QuickBooks Falls Short
• Keep
QuickBooks
for Financial
• Keep
QuickBooks
for Financial
Functions
• Add
Fishbowl
for Inventory
y
Control and Workflow
Note:
Fishbowl
now controls
• Inventory Items
• Inventory Movement
• Inventory Movement
• Sales Orders
Beyond QuickBooks
Fishbowl Inventory providesy p
• Multiple Warehouses & Locations • Serial Item Lot Items & More
• Serial Item, Lot Items, & More • LIFO, FIFO, Standard Cost
• Sales Item vs. Stocking Item (part) Ki i d BOM
• Kitting and BOM
• Work Order and Outside Processing • Landed Cost
• Consignment • Drop Ship
• Mobile Warehouse • Mobile Warehouse
Beyond QuickBooks
Multiple Warehouses & Locations • Unlimited number of warehouses
• Unlimited number of locations within each warehouse
warehouse
• QBE v11 has new “advanced inventory” feature-single level
See hat o ha e and WHERE it is! • See what you have and WHERE it is!
Beyond QuickBooks
Multiple Warehouses & Locations
WHSE Location Item QTY Valuation
LA Main SF Main Repair Consignment Denver Denver Main
Beyond QuickBooks
Serial Items, Lot Items, & More • Some Industries require
• Serial # • Lot #Lot #
• Expiration Dates • Custom Tracking
Food medical cosmetics and more • Food, medical, cosmetics and more
• Some very large organizations use Fishbowl stand alone
Fishbowl Inventory
I t
t
ith Q i kB
k
St
d Al
Fishbowl Parts (Items)
Beyond QuickBooks
LIFO, FIFO, and Standard Cost
• Average Cost is not for everyone • Just Say NO to negative inventory!
Beyond QuickBooks
Sell Same Part Under Different Item Numbers
• FB eliminates a problematic QB workaround • Alias Product Names
• Unit of Measure Conversions
• The accurate inventory advantage
• Private Label (R.M. goes into F.G. BOM)( g )
Product Name Part
(thing we sell) (thing we stock) (thing we sell) (thing we stock)
Yellow #2 Pencil P25428
Beyond QuickBooks
Sales Kits
• Can track Inventory by Kits and/or Component Items
• Reporting by Kit BothReporting by Kit. Both
• Sales History by Kit (end-item) • Sales History by Component
Beyond QuickBooks
Beyond QuickBooks
Beyond QuickBooks
Drop Ship
• QB does not handle drop ships • FB handles drop shipsFB handles drop ships
• FB links PO to SO
Wh d th t th V d hi d th • When you record that the Vendor shipped the
Beyond QuickBooks
Landed Cost
• What is my true inventory cost?
• Add Freight, Customs/Duties charges • Debits & Credits
Beyond QuickBooks
Beyond QuickBooks
Doesn’t
QuickBooks
Doesn t
QuickBooks
Have Manufacturing?
Not Really, Very Limited.
• Limited Assemblies (BOM) • No Work Order
• No Work Order
• No Outside Processing
• Requires lots of work arounds
Completely Missing (QB and FB)
• MRP (Material Requirements Planning)( q g) • Shop Floor Control
Beyond QuickBooks
What About Fishbowl Manufacturing ? • A Start
• A Start
• Useful for Some Clients
• Not intended to be a full manufacturing solution • Not in reality a full manufacturing solution
Beyond QuickBooks
Work Order and Outside Processing • FB has multi-levels BOMs
• FB has basic Work Orders
• FB handles simple Outside ProcessingFB handles simple Outside Processing • But neither QB nor FB is designed for
Beyond QuickBooks
The Fishbowl Dashboard
• Customize for each user
Beyond QuickBooks
The Fishbowl Dashboard Open Sales Orders
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~ ~ ~ ~ Items To Pick ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~ O P h O d ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~ It T R i O W k O d Open Purchase Orders
~ ~ ~ ~ ~ ~ ~ ~ ~
~ ~ ~ ~ ~ ~ ~~~ ~ ~ ~
Items To Receive
~ ~ ~ ~ ~ ~ ~ ~ ~
~ ~ ~ ~ ~ ~ ~~~ ~ ~ ~
Open Work Orders
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~
QB Only vs QB with Fishbowl
Fishbowl 2011 Feature Set
(See also in Handout) (See also in Handout)
Overall Assessment Of
Fi hb
l I
Fishbowl Inventory
• Software Features and Functions for Inventory Control • Software Features and Functions for Work Order and
Manufacturing
• Implementation and User Adoption Issues
Beyond QuickBooks
Summary and Lessons Learned
• When QuickBooks falls short, there are various options
A. Live with the consequences B. Switch to Mid-Market Software C. Add Inventory Control plug-ins to
QuickBooks
• Fishbowl and other add-ons are viable options. But not right for everyone.
Beyond QuickBooks
Summary and Lessons Learned (Continued)
• Many add-on implementation difficulties result not so much from software limitations, but often from
from
• Organizational Issues
• The ‘QuickBooks Mentality’ Mi d E t ti
• Mismanaged Expectations
• Add-ons are useful for inventory control, when QuickBooks loses control.
• But sometimes, the company really needs mid-market ERP software
Questions ?
Questions ?
P t d b B b Mi hli d Ch i St l Presented by Bob Michlin and Chris Steele
