Inventory Control Options

Inventory Control Options When QuickBooks k Loses Control Presented by Bob Michlin bmichlin@mbsg.net Christine Steele csteele@mbsg.net 1

Inventory Control Options When QuickBooks k Loses Control Topics Today Inventory Control QuickBooks Provides Inventory Control QuickBooks Lacks What Are The Options When QuickBooks Falls Short? Share our Experience with QuickBooks Add-Ons for Inventory Control 2

Our Perspective Business Management & Systems Consultants 3

Our Perspective 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 Streamlining i work flow and process Integrating accountability, visibility, measurement, and alerting Really, really good with Distribution and Manufacturing companies. Experts in, QuickBooks, Peachtree, MAS90, MAS200,Fishbowl, Sage CRM, Saleslogix and other Business Management software, 4

Inventory Control Options When QuickBooks k 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 Inventory Control 5

Familiar Easy To Use Many People Love QuickBooks k Popular Abundant Help Resources Other Good Stuff 6

QuickBooks Does Have Elementary Inventory Control Inventory Items OnHand Counts OnSalesOrder O Counts OnPurchaseOrder Counts Average Costing Inventory Valuation Unit of Measure (limited) Assemblies (limited) 7

Inventory Control Options When QuickBooks k 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 Inventory Control 8

QuickBooks Does Not Have FIFO/LIFO/Standard Cost Lot/Serial Tracking Multiple l Warehouses (*) Multiple Bins & Locations Drop Ship Landed Cost Other Important (Basic) Inventory Functions * New Developments with QBE 2011 9

Inventory Control Options When QuickBooks k 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 Inventory Control 10

What Are The Options When QuickBooks Falls Short? A. Live with the consequencesences B. Switch to Mid-Market Software C. Add Inventory Control plug-ins to QuickBooks 11

What Are The Options When QuickBooks Falls Short? A. Live With the Consequences Excel Spreadsheets attempting 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 Unhappy Customers Negative Inventory 12

What Are The Options When QuickBooks Falls Short? A. Live with the consequencesences B. Switch to Mid-Market Software C. Add Inventory Control plug-ins to QuickBooks 13

What Are The Options When QuickBooks Falls Short? B. Upgrade to mid-market market software Challenges/Costs Organizational Resistance Transition Costs Software Implementation Data Conversion Training Procedural and Organizational Changes O i ti l R i t We QuickBooks 14

What Are The Options When QuickBooks Falls Short? B. Upgrade to mid-market market software Benefits Robust, Full-Featured Featured Inventory Control Framework to turn-on or integrate additional automation. ti Better tools to manage and grow the business-- not just report historical activity Advanced automation and integration, to cut costs and boost profits. 15

What Are The Options When QuickBooks Falls Short? A. Live with the consequencesences B. Switch to Mid-Market Software C. Add Inventory Control plug-ins to QuickBooks 16

What Are The Options When QuickBooks Falls Short? C. Add Inventory Control Plug-Ins to QuickBooks Intuit Offerings Intuit Warehouse Management ES (SAAS) Formerly Velocity Later rebranded as IWM ES (SAAS) Recently Abandoned by Intuit Accucode (publisher) now supports? Intuit Advanced Inventory (QBE V11) Warehouses, but still limited QBE Enterprise, V11 only Annual Subscription (not SAAS) 17

What Are The Options When QuickBooks Falls Short? C. Add Inventory Control Plug-Ins to QuickBooks (Continued) Third-Party Plug-Ins Acctivate Advanceware Fishbowl Inventory Other 18

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 beyond QuickBooks 20

Re-introduce Chris Steele Software Certifications and Experience Bookkeeping/Accounting Expertise Operations Review, Training and Cleanup Software Implementations Accounting Inventory Control ERP 21

Inventory Control Options When QuickBooks Falls Short Keep QuickBooks for Financial Functions Add Fishbowl for Inventory Control and Workflow Note: Fishbowl now controls Inventory Items Inventory Movement Sales Orders Purchase Orders 22

Fishbowl and QuickBooks 23

Beyond QuickBooks Fishbowl Inventory yprovides Multiple Warehouses & Locations Serial Item, Lot Items, & More LIFO, FIFO, Standard Cost Sales Item vs. Stocking Item (part) Kitting i and BOM Work Order and Outside Processing Landed Cost Consignment Drop Ship Mobile Warehouse Manufacturing 24

Beyond QuickBooks Multiple Warehouses & Locations Unlimited number of warehouses Unlimited number of locations within each warehouse QBE v11 has new advanced inventory feature-single level See what you have and WHERE it is! 25

Beyond QuickBooks Multiple Warehouses & Locations WHSE Location Item QTY Valuation LA Main SF Denver Main Repair Consignment Main 27

Beyond QuickBooks Serial Items, Lot Items, & More Some Industries require Serial # Lot # Expiration Dates Custom Tracking Food, medical, cosmetics and more Some very large organizations use Fishbowl stand alone 28

Fishbowl Inventory Integrate t with QuickBooks k or Stand Alone 29

Fishbowl Parts (Items)

Fishbowl Parts (Items) [ ] Custom Categories Abcd

Serial Numbers On Hand

Beyond QuickBooks LIFO, FIFO, and Standard Cost Average Cost is not for everyone Just Say NO to negative inventory! 33

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) Product Name (thing we sell) Yellow #2 Pencil P25428 Pencil Staples254258 Pencil Part (thing we stock) P25428 P25428 P25428 34

Beyond QuickBooks Sales Kits Can track Inventory by Kits and/or Component Items Reporting by Kit. Both Sales History by Kit (end-item) Sales History by Component 35

Beyond QuickBooks Sales Kits 36

Beyond QuickBooks Sales Kits 37

Beyond QuickBooks Drop Ship QB does not handle drop ships FB handles drop ships FB links PO to SO When you record that t the Vendor shipped the goods, FB automatically fulfills (completes) the SO 38

Beyond QuickBooks Landed Cost What is my true inventory cost? Add Freight, Customs/Duties charges Debits & Credits Cost, Quantity, Size, Weight 39

Beyond QuickBooks Customer Consigned Inventory 40

Beyond QuickBooks Mobile Warehouse 41

Doesn t QuickBooks Have Manufacturing? Not Really, Very Limited. Limited Assemblies (BOM) No Work Order No Outside Processing Requires lots of work arounds Completely Missing (QB and FB) MRP(Material Requirements Planning) Shop Floor Control 42

Beyond QuickBooks What About Fishbowl Manufacturing? AStart Useful for Some Clients Not intended to be a full manufacturing solution Not in reality a full manufacturing solution Better Options Available 43

Beyond QuickBooks Work Order and Outside Processing FB has multi-levels BOMs FB has basic Work Orders FB handles simple Outside Processing But neither QB nor FB is designed for the complexities of true manufacturing. 44

Beyond QuickBooks The Fishbowl Dashboard Customize for each user See critical information at a glance 45

Beyond QuickBooks The Fishbowl Dashboard Open Sales Orders ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~ Items To Pick ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~ Open Purchase Orders Items To Receive Open Work Orders ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~ 47

QB Only vs QB with Fishbowl {insert summary chart here (See also in Handout) 48

Fishbowl 2011 Feature Set (See also in Handout) 49

Fishbowl 2011 Feature Set (See also in Handout) 50

Overall Assessment Of Fishbowl Inventory Software Features and Functions for Inventory Control Software Features and Functions for Work Order and Manufacturing Implementation and User Adoption Issues QuickBooks Integration and QuickBooks Constraints 51

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. 52

Beyond QuickBooks Summary and Lessons Learned (Continued) Many add-on implementation difficulties result not so much from software limitations, but often from Organizational Issues The QuickBooks Mentality Mismanaged Expectations ti Add-ons are useful for inventory control, when QuickBooks loses control. But sometimes, the company really needs mid-market ERP software. Long-term, the right software costs less. 53

Questions? Presented by Bob Michlin and Chris Steele 55

* END OF PRESENTATION * 56