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Despite the surge of online stores and e-commerce offerings, a majority of retail shopping still takes place in brick and mortar stores. Fortunately, this is not an either/or situation, as your customers will choose the buying option that suits their needs at that moment.

So what stops some physical retailers from putting their products online? Inventory, specifically managing the inventory between the physical location and the ecommerce store. Here’s how you can manage both, save time, and open more selling opportunities for your business:

Start with dedicated inventory solution

You may have used pen and paper or even excel spreadsheets in the past, but to properly manage multiple sales channels, you need a proper Inventory Solution.

A dedicated inventory software provides toolsets that can provide inventory forecasting, auto-reorder points to prevent stockouts of popular items, while collecting all of your business data to understand trends, seasonality, and demographics to better understand your customers.

A proper inventory management software will serve as the basis for keeping accurate counts between your physical and online stores, and provides a hub for additional tools to be built into your specific business needs, like exporting your financials to Quickbooks.

Implement Inventory Best Practices

Before launching out in the wide world of ecommerce, put your new inventory solution to use with some inventory management best practices. If you already have an online presence, these processes still hold true.

1. Organize, Label, and Scan: Setup your warehouse or backroom in a manner that makes clear designations for all items, including labels to speed up receiving and order fulfillment. For a real boost, add Mobile Inventory Management to employ 2D Barcode scanning and rapid item moving. If space allows, create a dedicated space for order fulfillment to make the pick, pack, and ship process faster.
2. Prioritize products with an ABC analysis: the ABC analysis to prioritize high-value products with low frequency of sales, moderate-value products with moderate frequency of sales, and low-value products with high frequency of sales. This will help you understand which products need the most attention from an inventory management perspective
3. Add Multiple Carts: Once your items are set up, organized, and in your inventory program, you can tie multiple ecommerce carts like Shopify or Amazon through a CSV file, and implement a data exchange that manages all sales while accurately accounting for inventory.
4. Grow: What if your online presence outgrows your warehouse capacity? Your inventory solution and the tools listed above scale with your success. Find additional storage space or facilities, carry your processes over, and your inventory will remain accurate!

What about B2B Businesses?

Everything covered thus far has felt B2C, but good news, it can all apply to your B2B business. Your B2B customers may have different purchase agendas in mind, but they want the same ease of access that we’ve come to expect in a B2C experience.

Let’s review:

1. You need an inventory solution that can also handle ERP needs.
2. Your warehouse has an existing layout, but to speed up order fulfillments, add the Mobile Inventory Solution to enable 2D barcodes, item moves, even order processing.
3. Create a dedicated B2B Sales Portal, allowing your customers to see exactly what you have on hand, order what they need, and keep accurate inventory count on your end.

Like a B2C counterpart, the more streamlined your B2B sales process and the more sales channels you make available, the greater your business’ revenue potential. 

Should you bring your business online? Here’s some benefits:

1. Cost Effective Expansion – You already have the product and the space to store it, adding another “space” for selling products is adding a website or using an existing ecommerce service.
2. Rely on Existing Customers – you have repeat business, let them help spread your business by word of mouth! You can now reach customers from around the world.
3. Always Open – 24/7 sales allows customers to buy when they want. The less friction on their journey to a purchase brings more business.
4. The Data: your inventory software can provide a range of metrics as it relates to sales, items, and seasonality, but your online presence can provide additional insight to customer behaviors and how they found you. This can inform marketing decisions and trends for your business.
5. Best of Both Worlds: sometimes a customer wants to feel the item, try it out, or even have the experience of being out and about. And other times they just want to buy the thing the moment they think about it. With a physical store and online presence, you are providing both.

Still Feeling Overwhelmed?

As a B2C or B2B business owner, if you’re looking to incorporate your store into online offerings, it is essential to understand inventory management. Too often poor inventory management can be a complex challenge to overcome, regardless of your level of expertise, business size, product range, or audience. 

Turn to an inventory expert. 

Your business may need help implementing inventory software, worker training, or general inventory consulting. This is what experts are for, to ensure your business is operating with best practices and providing your workers with the knowledge base for operational efficiency.

Now you get the best of both worlds; proper onboarding and training, while you focus on the business itself.

Takeaway

While the majority of retail shopping still takes place in physical locations, building your online presence can maximize your revenue potential. Don’t let the worry of inventory management prevent you from bringing your goods to a wider customer base.

With a dedicated inventory management software, implementing inventory best practices can help manage inventory across multiple sales channels. These strategies can also be applied to B2B businesses to improve their sales process. Bringing a business online can be cost-effective, expand customer reach, provide valuable data insights, and offer customers the best of both worlds with physical and online shopping options.

If you’d like to know more about bringing your inventory into the online space, reach out!

No matter the type of inventory-based business you work in, your warehouse is the structural “bones” of your operation, from organization, providing storage, serving as material handling, and distribution of goods. Given their significance, warehouses and their (mis)use can eat away at your revenue or even result in significant losses, sometimes without clear indicators.

We’re going to examine  common areas where warehouses lose money, how to identify these areas, and strategies that you can begin starting today to optimize warehouse operations.

WHERE DO WAREHOUSES LOSE MONEY?

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Inventory Management

Inventory management looks different for each company depending on size, industry, and needs, but the basic requirements of accounting for receiving, storing, using, and shipping goods is the crux of the warehouse itself.

Businesses often start with little to no inventory experience and grow into a process that fits the needs for the business early on, but your operation’s current needs require more than the home grown solutions that once worked. 

Poor inventory management can lead to overstocking, understocking, or misplacing inventory altogether, creating lost sales, increased carrying costs, expired goods, and unaccounted items.

Space Utilization

From starting in the garage to full commercial warehouse units, a common sentiment in business is that you “just need more space”, for more items, more equipment, or more workers.

Use of warehouse space is another area that many businesses organically grow into, without fully optimizing its usage, creating optimal routes for storage and picking, or integrating technology to reduce time spent moving between the warehouse floor and offices. 

Poor space utilization can result in wasted space, overcrowding, or inefficient workflows. This can lead to reduced productivity, increased operational costs, and potential safety hazards.

Labor Costs

Labor costs account for a significant portion of warehouse expenses, but these “costs” (employees) are often the greatest untapped portion of your business to grow, change, and bring long-term value.

Employees and contractors can only excel in the space and processes they are given, and as businesses grow or look to improve existing roles and responsibilities, proper inventory training, tools, and warehouse optimizations can create a culture of value and performance.

Inefficient labor management often results in unnecessary overtime costs, unrealized productivity, and increased employee churn.

Shipping and Receiving

Without fast and accurate tracking of items received and shipped, it is difficult to determine the location of materials, estimate delivery times, or resolve issues related to lost or delayed deliveries.

In addition to tracking, warehouses need to optimize shipping and receiving processes to reduce transportation costs, speed up pick and pack times, and reduce handling errors.

Poor shipping and receiving processes lead to employee confusion, delays, mishandled deliveries, lost packages, and increased transportation costs.

HOW TO IDENTIFY WAREHOUSE LOSSES

Analyze

Analyze your financial statements to identify areas with the highest costs and lowest profits, and look for patterns to indicate types of seasonal demand or demand of product type.  Generating Inventory Reports based on sales, stock rotation, or even a custom report to your business can provide key data to inform you on hidden issues.

Audit

Conduct an operational audit to identify inefficiencies and bottlenecks in your warehouse operations, be it a manufacturing process or handling procedure. The goal is to create as simple of a process as possible while maximizing time and labor use.

Feedback

Collect feedback from employees and customers to identify areas for improvement. The data can only tell us so much, and what is dreamed up in the office does not always translate onto the warehouse floor. Seeking transparency creates better processes and a better culture for overall work.

Strategies to Optimize Your Warehouse Operations:

Inventory Management

1. Implement real-time inventory management to accurately track inventory levels.
2. Use demand forecasting to ensure optimal stock levels and reduce stockouts.
3. Establish a first-in, first-out (FIFO) inventory management system to reduce the risk of expired inventory.

Space Utilization

1. Use data analytics to identify areas of low utilization, optimize space usage, and layout storage to fit pick paths with minimal distances.
2. Use vertical storage solutions to maximize floor space, use labels, bins and drawers to organize items and materials for consistent inventory placement.
3. Implement 2D Barcodes and 2D Barcode Scanning to reduce times in receiving, moving and picking inventory, which also reduces almost all human error to inventory accounting.

Labor Cost Reduction

1. Use labor management software to optimize employee scheduling and reduce overtime costs, while proper manufacturing software provides job costing and bills of materials for efficient production.
2. Provide quality on-site training and career development opportunities to maximize employee’s skill sets and incentivize their input for improved processes. Trained and valued employees build culture and lessen turnover.
3. Use performance metrics to identify areas for employee improvement while also identifying the value they provide.

Shipping and Receiving

1. Implement an automated shipping and receiving system to reduce errors and delays.
2. Use a transportation management system to optimize shipping routes and reduce transportation costs.
3. Implement real-time tracking to improve delivery times and customer satisfaction.

Takeaway

Every business loses money in some part of their operation, but the more streamlined your warehouse is, the more your potential revenue can be realized.

Identify where your business’ warehouse may be losing money across its several uses and processes, find the data and employees that can speak to the bottlenecks, and start implementing the strategies listed above to create the best version of your business.

Have a question about inventory, or still not sure where to start? We’ll help you get started.

 

Despite the often sensationalist news headlines, the national economy continues to expand, and many third-party logistics (3PL) businesses continue to see an increase in demand. However, increased competition in the industry and rapid technological growth has made it challenging for 3PLs to grow and remain profitable.

Let’s cover how to increase your 3PL profitability with steps you can take starting right now.

1. Plan and Forecast

This is not a new concept, but its simplicity is often overlooked. One of the most effective ways to increase your 3PL business’s profitability is through proper planning and forecasting.  Retail e-commerce sales alone are expected to grow by 50% over the next four years, along with ancillary industries that feed into it, which means that staying abreast of consumer trends and market conditions is critical. Companies that move and adapt quickly during market expansions survive and profit while slow-to-respond companies pay the price for dragging their feet, if they survive at all.

To stay ahead of the competition, it is crucial to analyze market trends and consumer demand patterns continually, relying both on your own inventory reports and third-party analytics as needed. Developing forecasting models to identify which products are most in demand and at what times can help you adjust inventory levels and allocate resources more efficiently.

2. Customer Retention is Critical

Too often our business attention focuses on new customer acquisition, but what about the customers you have already “won”? Market research shows that the probability of selling to an existing customer is between 60% and 70%, compared to only 5% to 20% for a new customer. Additionally, acquiring a new customer costs anywhere from 5 to 25 times more than keeping an existing one.

To improve your 3PL’s profitability, prioritize excellent customer service and analyze customer accounts to determine where you are making money and where you are losing it. By determining what your top customers have in common, you can replicate your success with them and find more like them.

3. Service Your Core Business

Similar to customer retention, concentrating on your current core business and a specific direction where you see growth opportunities is an effective strategy to increase your 3PL’s profitability. Once you’ve chosen a direction to grow your business, devote your company resources to being better than any other logistics firm in your chosen segment while you expand. 

For example, implementing a 3PL portal can provide existing customers immediate access to your goods, allowing customers to order when it suits them, while also reducing order confusion, and minimizing labor costs. The less time spent on fulfillment allows you to service your core business as you grow to remain competitive, viable, and profitable.

4. Audit Your Processes for Efficiency

Auditing your current warehouse processes for efficiency can offer significant opportunities for cost savings. Every process in your warehouse should be considered, scrutinized, and tested for inefficiencies, including your equipment, storage arrangement, even pallet management process. While it may seem like a cost-saving measure to squeeze one more year out of outdated equipment, upgrading your equipment can save you time and labor in the long run.

5. Update Your Standardized Processes

Our supply chain industry has changed more in the past three to five years than it has in the previous 30 years,  making it absolutely vital to examine, test, and adjust your standard processes. If you are still using the same processes from years ago, it is likely that they were developed using information and standards that may now be obsolete.

Standard processes are important because they enforce safety and security in the warehouse/distribution center environment. Additionally, they provide a baseline against which improvements can be measured, helping to simplify the onboarding and training of new team members. Relying on standard practices can help speed up the training process and ensure that your workforce performs work in a consistent manner.

6. Train Your Employees, Again

Similar to maintaining equipment, your employee’s knowledge base and execution is a key factor in revenue generation. While far too many want to squeeze their workers for every useful minute in a day, an educated and trusted employee creates significantly greater value for the company.

Bring tools and technology to simplify their process, streamline the work, and eliminate the middle-management. Bring certified specialists to teach and train on your most effective tools, from inventory software training to warehouse management, and their ability to provide a greater value of work will pay dividends to culture and business alike.

7. Measure Warehouse Labor Costs to Find Clues to Inefficiencies

Speaking of labor… labor is typically the highest single cost in warehouse operations, but warehouse automation can help reduce labor costs, improve accuracy, and increase throughput. Automated material handling systems can help speed up picking and sorting processes, while robots can handle repetitive tasks like palletizing and packing.

Robots sound outside of your price range? Incorporate 2D scanning and 2D barcodes to quickly capture all the important item information to receive, move, even pick, without needing to manually update systems or counts.

8. Focus on Sustainability

Sustainability has become an increasingly important issue in the logistics industry. Customers are now looking for environmentally responsible companies to do business with, and 3PLs that can demonstrate their commitment to sustainability are more likely to win new business and retain existing customers.

Beyond common environmental sustainability, implementing sustainable practices provide reduction in company waste. For example, creating a calendar for required site maintenance, equipment servicing, and inventory inspection provides planned downtime, less operational waste, and proper stock accounting.

9. Develop Strategic Partnerships

Developing strategic partnerships with other businesses in the logistics industry can help 3PLs expand their service offerings, reduce costs, and increase profitability. By partnering with other logistics providers, 3PLs can offer customers a more comprehensive range of services while also reducing costs through economies of scale.

Strategic partnerships can also help 3PLs expand their geographic reach. By partnering with logistics providers in other regions or countries, 3PLs can offer customers a global logistics solution, opening up new markets and increasing revenue potential.

Takeaway

Optimizing a 3PL business for profitability is as competitive as ever, but the availability of tools and solutions is as great as it has ever been. Consider the numbered strategies as possible solutions for your business’ own pain points, narrow down to the most relevant, and start simple. 

By implementing these strategies, your 3PL business can increase their profitability, improve customer retention, reduce costs, and position themselves for long-term success in a competitive and dynamic industry. It’s essential to communicate the vision and plans for the future with the team, as it helps them facilitate workflows around achieving the goals. By working together, 3PLs can overcome challenges and capitalize on the opportunities presented by a rapidly evolving logistics industry.

 

One of the many challenges facing manufacturing companies is not just the ability to scale a physical process, but scaling the management process that must accompany an increasing production demand. You need more capabilities without adding unnecessary steps, and this is where the strength of a manufacturing specific software like Fishbowl Manufacturing can make all the difference in your business.

Fishbowl Manufacturing, included in their Fishbowl Advanced Product, contains features to fit your specific manufacturing needs. Let’s get into it!

Types of Manufacturing and How Fishbowl Manufacturing Helps

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Batch Manufacturing

Batch manufacturing involves creating products or items in a single batch to meet customer demand, often used in commercial baking or clothing production, and this process is repeated continuously to keep up with incoming consumer needs. Batch manufacturing often works with non-metallic substances such as powder, liquid, minerals, and gasses.

One of the primary benefits of batch manufacturing is the ability to create large quantities of products in a short period. However, it can also result in excess or expired inventory and higher costs if not managed effectively.

Fishbowl Manufacturing provides the ability to set various types of Units of Measure (UOM) for raw goods and materials, and makes use of material expiration tracking, reducing the time and error involved with manual management of inventory or unit conversions. This flexibility helps keep costs down and ensures efficient use of inventory, leading to more reliable manufacturing operations.

Discrete Manufacturing

Discrete manufacturing is a flexible process often used by furniture or electronic production, and involves manufacturing multiple products on a single assembly line. This method is highly customizable using a build-to-order business model, with the downside of the time required to retool machinery and lines for different products, resulting in inefficiency.

Fishbowl Manufacturing allows manufacturers to add one-time items or items with multiple quantities to a Bill of Materials (BOM), providing simple or large-scale customization of orders, which brings greater flexibility while keeping costs down.

Job Shop Manufacturing

Job shop manufacturing is similar to discrete manufacturing in that it is focused on one-off manufacturing jobs, like commercial printing or machining shops. Where the production varies is in the assembly lines, with most of the manufacturing work created by hand or limited automation.

Fishbowl Manufacturing is designed to be flexible and handle a wide range of inventory and manufacturing requirements while also providing Job Costing and Labor Management. As production and material load increases, Fishbowl can handle the extra load, and accurately track costs by project or person. Instruction notes can also be added to line items in a BOM, making it easier for workers to double-check item customization as needed.

Repetitive Manufacturing

Repetitive manufacturing involves the creation of a single product over and over again, from refrigerator manufacturers to beer production. The assembly line does not often change the products they manufacture, they adjust the frequency of production based on demand.

Fishbowl Manufacturing provides manufacturers with Material Resource Planning (MRP) to know when and where materials are needed, while tracking their progress. The ability to plan your resources and demand allow production to scale as needed while eliminating inventory surprises.

How Fishbowl Manufacturing can help any Manufacturer with their Inventory

Every manufacturer faces different demands, but Fishbowl Manufacturing also provides the important inventory solutions to manage the process end-to-end.

1. Inventory management: Fishbowl Manufacturing allows you to track inventory levels in real-time, reducing the risk of stockouts and overstocking.
2. Production planning: You can plan production schedules and track progress, ensuring that orders are fulfilled on time and within budget.
3. Quality control: Fishbowl Manufacturing allows you to monitor quality control throughout the production process, reducing the risk of defects and ensuring customer satisfaction.
4. Cost control: Fishbowl Manufacturing can help you track the costs associated with each stage of the production process, allowing you to identify areas where you can reduce costs and improve efficiency.

How to implement Fishbowl Manufacturing for your business

1. Assess your business needs:  What is your process and what areas does your business need the most help?
2. Pick your solution: Choose the plan that best suits your business needs, user needs, and budget.
3. Onboard Fishbowl Manufacturing: Find the right training to fit your business and provide proper training for your employees.
4. Add Integrations to enhance your process: Fishbowl partners provide additional inventory solutions to make your warehouse runs as efficient as your manufacturing.

When should you update your training for Fishbowl Manufacturing?

Your manufacturing business will inevitably change; new employees join your team, processes need refreshing, new products may require new approaches. In each instance, additional training or consultation can hone both your production process and inventory process. In the same way your equipment and tooling requires maintenance, your business and employees benefit from regular training, which pays dividends in long-term efficiencies.

Takeaway

Manufacturing companies face the dual challenge of scaling both their physical and management processes to meet increasing production demand. Fishbowl Manufacturing provides the feature sets to meet nearly any manufacturing application, while also providing the tools necessary for inventory management, production planning, quality control, and cost control. Add in the right integrations with the proper training, and your manufacturing business can produce and manage your full process at the highest level of efficiency.

 

Pallet handling can be a challenging process for manufacturers and warehouses due to the risk of human error, inefficient workflows, lack of visibility, or even lack of proper tools. However, inventory software can help streamline the process and make it more accurate, efficient, and transparent. In this article, we’ll discuss the benefits of inventory software for pallet handling and how it can help you optimize your workflows.

The Challenges of Pallet Handling

Before we dive into how inventory software can help with pallet handling, let’s take a look at some of the challenges that manufacturers and warehouses face:

• Human error: Pallet handling involves a lot of manual data entry, which increases the risk of errors. The greater the item count of the pallet, the higher the probability for mistakes.
• Inefficient processes: Pallet handling can be a time-consuming and labor-intensive process if not optimized for your space.
• Lack of visibility: Without real-time inventory tracking, it can be difficult to know the exact location and status of your pallets.
• Lack of proper tools: without integrated barcodes and barcode scanners, a lot of time is lost to simply process a pallet and have its contents ready for storage or manufacturing.

How Inventory Software Can Help

Inventory software can improve the pallet handling process in several ways:

• Increased accuracy: By using barcode scanners and automated data entry, inventory software can greatly reduce the risk of human error in pallet handling.
• Optimized workflows: With customizable workflows, you can tailor the pallet handling process to your specific needs and optimize it for maximum efficiency.
• Real-time visibility: With real-time inventory tracking, you’ll always know the location and status of your pallets, which can help you prevent stockouts and overstocks.
• Mobile inventory software: By using mobile inventory software, workers can move around the warehouse while scanning barcodes and updating inventory data in real-time.

Key Features of Inventory Software for Pallet Handling

If you’re considering using inventory software for pallet handling, here are some key features to look for:

• Barcode scanners: Barcode scanners are an essential tool for accurate and efficient data entry in pallet handling.
• Real-time inventory tracking: Real-time inventory tracking can help you prevent stockouts and overstocks by giving you visibility into your inventory levels.
• Customizable workflows: Creating a workflow custom to your company and process optimizes the entire handling process for maximum efficiency and accuracy.
• Automated alerts and notifications: Automated alerts and notifications can help you stay informed of any issues or changes in your inventory.

How Can Pallet Management Software Improve Your Business?

Imagine a manufacturing company that has been relying on a manual process for pallet handling. The employees are required to manually record the movement of every pallet and inventory change on a spreadsheet. As a result, there are several instances of errors, delays, and inaccuracies in the process, and now employees have to spend extra time correcting these errors, leading to decreased productivity and increased operational costs. The company realizes the need to implement inventory software for pallet handling to improve the process.

By implementing inventory software, the company can streamline the pallet handling process, reduce errors, and increase efficiency. The software can automate data entry through barcode scanning, providing accurate and real-time inventory tracking. Additionally, the software can enable customizable workflows that optimize the pallet handling process to meet the specific needs of the company.

This implementation can save the company both time and money. The automation of data entry can reduce the amount of time spent on manual processes, and the real-time visibility into inventory levels can help prevent stockouts and overstocks, ultimately reducing operational costs. The use of inventory software can also reduce errors, which can minimize the time required for employees to correct these errors, freeing up their time (and yours) for more important tasks.

Last Piece of the Pallet Handling Puzzle

If a businesses wants to fully optimize their pallet handling process, they would integrate a mobile warehouse app that provides Pallet Management Functionality. This type of software provides the ultimate efficiency in its use of inventory software, allowing users to receive, move, and pick entire pallets without having to first process every item or material on the pallet.

With a pallet management function, employees can receive entire pallets directly off a truck, scan them into the system using a barcode scanner, or build entire pallets in a single module. The Mobile Warehouse App automatically updates the inventory levels and provides real-time insight into the current stock levels. Users can also move entire pallets from one location to another using the app, and automatically update inventory levels to reflect new pallet locations.

Pallet Management provides the ultimate efficiency of process, time, and accuracy.

Takeaway

By using inventory software, you can greatly improve the pallet handling process in your manufacturing or warehouse setting. Whether you’re looking to reduce errors, optimize workflows, or gain real-time visibility into your inventory levels, inventory software can help you achieve your goals. Be sure to look for key features like barcode scanners, real-time inventory tracking, and customizable workflows when choosing an inventory software solution for your pallet handling process. With the right software and workflows in place, you’ll be able to streamline your operations and achieve greater efficiency and accuracy.

 

Here’s a familiar scenario:

You sell products online, but like many e-commerce based businesses, you want to sell across as many available channels as possible to maximize reach and potential revenue. More channels means more merchants, more shopping carts, more potential for conflicting data across orders and inventory, and more headaches. In this case, how can a business get more, but not have to do a lot more? It comes down to what (file) type you are and how you use it.

What is CSV?

Comma Separated Values, or CSV, is a file format for exchanging data between different software and tools, and it is an important topic we’ve covered in the past. CSV provides a simple and straightforward way to store data in a text file, where each line represents a row in the data and each comma-separated value represents a column. CSV files can be easily created and stored in spreadsheet programs such as Microsoft Excel, Google Sheets, or LibreOffice Calc, making it a popular choice for exchanging data between different applications and platforms.

Using CSV for data exchange provides simplicity, flexibility, and wide compatibility with different software and solutions, meaning you can quickly transfer data between different systems, automate data processes, and store large amounts of data in a structured and organized manner.

How to Create a CSV File for Inventory Management in a Business

Creating a CSV file for inventory management in a business is a straightforward process that requires an investment of time and can be created with the following steps:

1. Pick a spreadsheet program.
2. Create a new sheet or workbook to store the inventory data.
3. Define the columns for the inventory data, including columns for item name, item code, item description, quantity, and any other relevant information for your business–Fishbowl has import/export instructions  that can be used for reference in designing your own sheet.
4. Enter the data for each item in the inventory into the appropriate columns.
5. Save the file as a CSV file format .
6. Import the data into the inventory management system or database by following the system’s instructions for importing data from a CSV file.

By following these steps, businesses can easily create a CSV file for inventory management, allowing them to import and export inventory data for analysis and decision-making.

Why CSV files matter in inventory management

Consider what a simplified file format provides for an inventory based business:

1. Ease of use: CSV files can be easily created and edited using spreadsheet programs, making it a simple process to manage inventory data.
2. Data accuracy: By using a spreadsheet program to create and edit CSV files, businesses can ensure that the data is clean, consistent, and accurate, reducing the risk of errors in the inventory data.
3. Time-saving: With the ability to import and export large amounts of data quickly and easily, businesses can save time compared to manual data entry or using other file formats.
4. Scalability: CSV files can be used for small data sets or large data sets, making it an ideal solution for businesses of any size.
5. Compatibility: CSV files are compatible with a wide range of software, including database systems, inventory management systems, and spreadsheet programs, making it easy to exchange data between different systems.

Speaking of Compatibility…

Compatibility is a key feature to CSV files in their ability to read and capture, import and export, with any real inventory system, and provides all the pieces to maximize our e-commerce, multi-channel scenario at the start.

• Your business can create CSV files to capture all necessary item information
• An inventory system can import and export with that CSV data
• A CSV Data Exchange Hub can run all your CSV data in real-time across any connected channel and cart

A real world use case is a business employing their CSV data exchange to send sales orders to their 3PL warehouse for shipping, and then through the same data exchange pull back the shipping info from the 3PL, in the same format, into the business’ inventory software.

The end result is a streamlined process with maximized channel potential to grow your business and drastically reduce error and labor costs.

Best practices for working with CSV data

Working with CSV data requires following best practices to ensure data cleanliness and consistency, privacy and security, and to handle large data sets. Here are some tips:

• Keep the data is clean and consistent, with no errors or missing values
• Ensure that sensitive data is protected either by encrypting the data or storing it in a secure location
• For large data sets, split the data into smaller files or use compression to reduce the file size

What to Avoid When Creating CSV Data for Inventory Management in E-Commerce

While a CSV data exchange is a straightforward and simple method for managing inventory data, there are a few common mistakes to avoid in order to ensure that the data is accurate and effective.

Here are some things to avoid when creating CSV data for inventory management in a business:

1. Inconsistent data format: Using the same format throughout the CSV file is important for accurate data analysis. This includes using the same number of columns, data types, and units of measurement.
2. Incorrect data: Accurate data is essential to all business processes, including checking for typos, missing data, or incorrect data.
3. Sensitive data in plain text: If the CSV file contains sensitive data, such as personal information or financial data, it is important to either encrypt the data or store it in a secure location to protect it from unauthorized access.
4. Overcomplicating the data: While it may be tempting to add additional data to the CSV file, it is important to keep the data simple and straightforward to ensure it’s easy to import and analyze.
5. Ignoring best practices for large data sets: If the CSV file contains a large amount of data, follow best practices for working with large data sets, such as splitting the data into smaller files or using data compression.

Takeaway

CSV is a simple and straightforward file format for exchanging data between different software and tools across your e-commerce business. With its ease of use and wide compatibility, it is a popular choice for data exchange, whether for small or large data sets. By following best practices and using tools such as spreadsheet programs, you can easily and effectively streamline your e-commerce data and simplify your multi-channel sales with a CSV Data Exchange.

Bar coding has revolutionized the way businesses manage their inventory and track their products, but the barcode scanner and UPC (universal product code) was first instituted in a small grocery chain back in 1974. Technology has made an advancement or two since then, but a lot of inventory based companies still rely on barcodes technology that is nearly 50 years old, despite the need for greater data capture.

1D vs 2D Barcodes

Like any advancing technology, the differences between a 1D and 2D scanner come down to data, how much they can read, and the amount of information they can store.

1D barcode scanners, also known as linear barcode scanners, are designed to read traditional barcodes that are made up of a series of parallel lines of varying widths. These barcodes typically store a limited amount of information, such as a product’s identifier number or price, and are commonly used in retail settings for inventory management, point-of-sale transactions, or warehouse logistics. 1D barcode scanners typically use a laser to read the barcodes and are often created in a “gun” form factor.

2D barcode scanners on the other hand, are capable of reading a wider variety of barcode formats that use patterns of squares, dots, and other shapes to store information, and it is this ability to store significantly more data than 1D barcodes. 2D barcodes can store up to 2000 characters, and can be used to store almost any variety of information, including images, website addresses, and binary data. 

2D barcode scanners are also produced in more form actors, and can be either handheld or fixed and often use imaging technology to read the barcodes.

Examples of 2D barcodes readers

• Handheld barcode scanners: Portable barcode scanners equipped with imaging technology for scanning 2D barcodes.
• Fixed barcode scanners: Mounted barcode scanners that are typically used in industrial and manufacturing settings for scanning large quantities of barcodes.
• Smartphones: Most smartphones equipped with a camera and a barcode scanning app can read 2D barcodes.
• Tablets: Similar to smartphones, many tablets with cameras and barcode scanning apps can also read 2D barcodes.
• Barcode verification devices: These specialized devices are used to check the quality of barcodes and ensure they are easily readable by barcode scanning devices.
• Automated data collection systems: These systems use multiple barcode scanning devices to collect and process data in real-time, such as in a warehouse or manufacturing environment.

Overall, the type of 2D device used to read 2D barcodes will depend on the specific application and the needs of the business.

What types of businesses benefit from 2D scanning?

While both 1D and 2D barcode scanners serve the purpose of reading barcodes, the difference lies in the type of barcodes they can read and the amount of information they can store. 2D barcode scanning is more versatile and can be used in a wider variety of applications, while 1D barcode scanning is more limited in its information capture.

2D barcode scanning is particularly useful for businesses that need to encode a large amount of data while still keeping the physical size of the barcode small. This makes it ideal for supply chain and manufacturing applications where items need to be scanned as they move on assembly lines or conveyors, or need to capture and store larger amounts of item or material data.

Businesses that can benefit from using 2D barcode scanning:

• Manufacturing companies that need to track products and components throughout the production process
• Logistics and distribution companies that need to track inventory and packages as they move through the supply chain
• Healthcare providers that need to track medical equipment, patient information, and maintain records for federal compliance
• Food and Beverage manufacturers that need to track ingredients, production processes, and also want to maintain a reliable record for varying agency compliance
• Retail companies that want to improve inventory management and reduce manual data entry
• Transportation companies that need to track cargo and shipping containers from origin to destination

Every business and industry is different, but the more your products rely on tiers of data, the greater the benefit of 2D barcodes and devices.

How can a business create 2D barcodes?

Here are some general steps for creating a 2D barcode:

1. Choose a 2D barcode format: There are several different types of 2D barcodes available, including Data Matrix, QR Code, PDF417, and others. Each format has its own set of features and capabilities, so choose the one that best meets your needs.
2. Generate the barcode data: Once you’ve chosen a format, you’ll need to generate the data that will be encoded in the barcode. This data can include item numbers, production dates, lot numbers, or any other information valuable to your company.
3. Use a barcode generator software: There are many barcode generator softwares available, such as Barcode Generator, Barcode Maker, and QR Code Generator, that can be used to create 2D barcodes. 
4. Print the barcode: Once you’ve generated the barcode, you’ll need to print it out so that it can be scanned, and this can be done using a regular printer or a specialized barcode printer.
5. Test, test, test the barcode: Before you start using the barcode, always test it to make sure it can be read by a scanner and that the information is accurate. Depending on your company’s process, using a smartphone scanner can be used as a secondary testing method to ensure the data is correctly decoded.
6. Implement the barcode: Once you’ve created and tested the barcode, you can start using it in your business. This may involve adding the barcode to products, packaging, or other items, or using it as part of a larger tracking and inventory management system.

Note: If you don’t have the technical know-how to create the barcode yourself, there are companies that offer barcode generation services that you can use to create the barcode for you.

How to incorporating 2D scanning 

Let’s turn this information into an actionable plan specific to your operation, following these steps.

1. Identify your specific business needs and why you need it. Consider the types of information you need to track, how you plan to use it, and how it will affect your process across the business.
2. Choose the right 2D barcode format: as previously covered, there are several different types of 2D barcodes available, including Data Matrix, QR Code, PDF417, and others. Choose the format that best meets your needs and consider factors such as the amount of data you need to store, how much real estate the barcode takes up on storage shelves or racks, and if your data needs may expand in the future.
3. Implement the technology: your steps may involve installing barcode scanning devices, creating barcodes, and training your employees on how to use the technology. Consider working with a company that specializes in barcode technology to ensure a smooth implementation process and reduced downtime.
4. Train employees: Your employees will be using the 2D scanning technology on a daily basis, so it’s important to provide proper training. Teach them how to properly use the scanning devices and how to interpret the data they capture. This will help ensure accurate data collection and processing.
5. Test and refine the system: Once you have implemented the 2D scanning technology, it’s important to test it and refine the system as needed. This may involve making changes to the way you encode the data, adjusting the scanning devices, or even changing layouts to best suit the process. Continuously monitoring the system and making improvements will help ensure it operates at peak efficiency.

Takeaway

For today’s inventory businesses, 2d scanning has become a crucial tool for streamlining and optimizing the management of goods and supplies, while meeting the competitive demands of increasing efficiency. By using 2d scanning, businesses can reduce manual errors, increase efficiency and productivity, and improve overall accuracy in tracking inventory levels. For some companies 1D scanning may be enough, but the growing need for data and data tracking solutions requires more capable scanning tools for a more capable business.

Are you tired of manually tracking leads and sales and inventory? Do you wish there was a way to streamline the process and make it more efficient? Well, have no fear because a sales portal is here!

Okay, that reads more like a late night TV ad than a practical combination of processes and software, but it really is true. A sales portal is a digital platform that allows businesses to manage their sales process in one central location. Think of it as a one-stop-shop for all things sales. From tracking leads and managing customer information to creating quotes and tracking inventory, a sales portal can do it all.

But why does your business need one? Well, for starters, it can save you a ton of time and energy. No more manually inputting customer information or searching through endless spreadsheets to find that one lead you need. Everything is easily accessible and organized in one place. A sales portal can increase sales by making it much more straight forward for customers to purchase from you. With features such as online quotes and secure payment processing, the buying process is made simple and seamless.

All of those benefits aside, one of the most practical reasons that your B2B business needs a sales portal is to stay competitive! The more seamless the sale, the more value you provide to customers, otherwise they look elsewhere.

Okay, so you’re sold on the idea of a sales portal, but how do you know if your business actually needs one?

You’re going to start by taking a look at your current sales process. Are you manually tracking leads and customer information? Are you spending hours creating quotes and processing payments? Are you creating sales orders, and then manually updating that sale information into an inventory count spreadsheet? If the answer to any of these questions is yes, then it’s probably time to incorporate a sales portal.

Second, it’s already been mentioned that a portal keeps you competitive, but have you been keeping an eye on that competition? Are your competitors using a sales portal and you’re not? How easy is it for your target prospect to purchase from the competition? Do you have  products that should be standouts winners but no one can find them?  

Lastly, if you’re finding it hard to retain customers, then a sales portal could be the solution. With features such as customer relationship management and automated follow-up processes, a sales portal can help you keep your customers coming back for more.

You’ve determined that your business needs a sales portal, now what? 

Here are features you should be looking for in your B2B Sales Portal

First and foremost, a sales portal should have a lead tracking feature. This allows you to easily track and manage leads, so you never miss an opportunity again and can quickly track their history.

Next up, a customer relationship management feature. This is like a digital rolodex for your customers, keeping all their information in one place and making it easy for you to keep in touch, without relying on scratch pads or buried emails.

Quoting and invoicing are also key features of a sales portal. With the ability to create and send quotes and invoices online, you can streamline the sales process and make it more efficient. When a prospect appears, ready to buy, do not delay the sale, make it frictionless.

Remember how you had to update inventory levels at the end of the day, or after each sale orders, and sometimes you would forget? A proper B2B Sales Portal updates in real time, which also provides immediate insight to stock levels so there is no surprises or stockouts.

And last but almost most important, secure payment processing. This feature allows customers to make payments online, making it easy for them to purchase from you and for you to get paid.

There can be plenty of additional features, but don’t let the plethora of features overwhelm you, just remember that a good sales portal should have lead tracking, customer relationship management, quoting and invoicing, real time inventory updates, and secure payment processing. And if it doesn’t have all of that, well, it’s like starting a business and hoping people will just show up.

You’ve got your sales portal all picked out, now what?

You have caught the vision and you’re ready to roll, but you’re missing one key component to this whole plan, and that’s implementing it. Unfortunately, no matter how good the portal, it’s not as easy as just plug and play.

Before anything is integrated, you’ll want to set up a plan. This includes determining who will be responsible for managing the portal, what processes need to be put in place, and how you will train your team to use it.

Next, it’s time to get your hands dirty and start inputting all of your customer and lead information. This step is a critical investment of time, but the long term gain of efficiency and tracking pays big dividends.

Once all the information is in, it’s time to test, test, test. Make sure everything is working correctly and that your team is comfortable using it.

And lastly, don’t forget to keep it updated. A sales portal is a living, breathing thing and it needs to be taken care of.

So, don’t think that just because you have a sales portal, your job is done. It’s like having a new puppy, it takes work, but the end result is worth it. And who knows, with a sales portal by your side, you might just become the top dog in your industry.

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The Takeaway

A B2B Sales Portal is a digital platform that allows businesses to manage their sales process in one central location. It can save you a ton of time and energy, increase sales, keep proper inventory count, and make it easier for customers to purchase from you. The portal can provide the edge to winning out the competition and make your services and products stand out.

We’ve covered how to determine if your business needs a sales portal, the key features that a sales portal should have, the steps to take when implementing a sales portal and tips for ensuring a successful implementation.

Remember, a good sales portal should have lead tracking, customer relationship management, quoting and invoicing, integrate with your inventory system, and provide secure payment processing. 

Implementing a sales portal takes work, but the end result far outweighs the costs and effort.