Making it easy to have inventory RightOn

The site is called RightOnInventory and the URL is www.rightoninventory.com

A brief synopsis of the website?

Having the right amount of inventory is a difficult and time consuming task. Our online inventory order management service, which will be launched in October, makes it easy to do inventory right. If I were explaining our service to a 5 year old then I would say we are the perfect inventory service for Goldilocks – not too much inventory, not too little inventory, just right.

Our service helps you avoid having too much inventory because our built-in calculator instantly evaluates over one dozen key variables to determine the right amount to order. There is no guess work and you order the right amount so that you do not have excess stock. Purchase orders have never been easier to process because you can create purchase orders online in minutes. With the click of a button your can send your purchase orders to QuickBooks and have then automatically emailed or printed for mailing to your vendors.

Our service also helps you avoid having too little inventory because our built-in calculator instantly evaluates over one dozen key variables to determine the right inventory level. You can automatically set reorder points so that you do not run out of stock. Setting reorder points has never been easier, just click to set your reorder points electronically.

Finally, our online order management service provides the advantages of inventory management software, with none of the hassles. There is no software to install and you have anytime, anywhere access from any computer.

John Krech

Why did you start this company? I spent 20 years with a Fortune 500 company, working with their vendor’s all over the world. I worked with businesses of all types and sizes and saw a universal need to make better decisions faster. Businesses were too often dealing with the consequences of guessing wrong when it came to inventory or they were spending endless hours developing complicated spreadsheets to compensate for accounting packages that were using decision models developed in 1913 that no longer fit the world of business today.

Who is your competition, and what do you do better? My biggest competition is the willingness to stay in the status quo and continue doing things manually. What we do is pull out information that it is hidden in your accounting data, so that you can make more informed decisions faster. My next biggest competition is the spreadsheet and what we do better is we do it automatically for you. We save you time. Finally, we are starting to see imitators that claim to optimize the investment in inventory in QuickBooks, such as EZ Analytics. What do better and how we differentiate is that we truly set inventory levels at peak financial performance, we do not rely on settings like days of sales which is still just a guess. For example, you guess to set your inventory levels to 30 days of demand. This really is not optimizing your inventory relative to your lead times from suppliers. Most importantly, we have a superior value because we don’t just tell you how much inventory to have, we help to do it.

Why would a small business, entrepreneur, freelancer, etc use your product? First, our online service can help you survive and thrive. Having the right amount of inventory is a competitive advantage and often times it can be the difference between success and failure. The Small Business Administration has documented poor inventory management as among the most common reasons for small business failure. We help you manage inventory right.

Second, our online service saves you time. Trying to figure out how much inventory to have is a time consuming task, especially in QuickBooks. We help you and or your employees focus on other tasks, such as growth.

How could you effectively use these tools? In addition to using our service to set reorder points and place purchase orders easily, our reporting tools provide a wealth of information on the performance of your business. The time saved on these tasks can be used to continuously improve. For example, you can identify suppliers that are slow to deliver which in turn increases your inventory levels to compensate for their lag. You can also identify which products are most effective in generating cash – this is valuable sales prioritization information. Finally, our tools help position you for increases or decreases in business before you are caught holding the bag or miss out on an opportunity to grow your business. We have heard talk about a second dip in the economy and we have also heard that the recession ended some time ago. Our tools analyze your data and make recommendations specifically for you.

A short bio of your company? ePhiphony Incorporated is the developer and publisher of the patent pending inventory investment optimization solutions Phitch and RightOn. ePhiphony was founded in 2007 after 20 years of inventory management observation and expertise. ePhiphony was created to make it easy to have the right amount of inventory.

Phi is a silent of hidden component in ePhiphony. It is referred to as the “golden ratio” and has been studied in mathematics, art, music, and in nature. Phi is subtle and comes naturally, it just happens. That is how we view how our services should be provided.

To ePhiphony, Phi represents the optimum amount of inventory from an investment perspective (economic profit or economic value added). Economic profit combines income statement and balance sheet performance. In other words, Phi represents the point at which the income statement and balance sheet ratios are maximized.

In summary, ePhiphony truly is about making it easy to do inventory right.

Do you offer free online or offline tools? We offer a 7 day free trial of our online service called RightOn and we our phasing out our offline tool Phitch.

Are there different pricing levels? I am strong believer in affordability, scalability, and consumption based pricing. While our offline tool was based on a pricing scale based on the number if inventory, our online service will be a $30 per month for the 1st 10 purchases orders and 1st 1000 reorder points. Each additional 10 purchase orders in a month is $5 per month and each additional 1000 reorder points in a month is $5 per month.

Do you have a blog that keeps users updated? Yes, we have a new blog that we are launching at http://blog.rightoninventory.com

Facebook, twitter, or ? We are on Facebook at http://facebook.rightoninventory.com )and we can be found on twitter at @tweetRightOn (http://twitter.rightoninventory.com )

How long have you been in business? We have been business since October 2007. Our desktop software called Phitch was launched in December 2008. While it has received considerable recognition, our long term vision is to migrate to the cloud in order to provide anytime anywhere access from any device through any accounting platform.

How do you see your company in the next 2-5 years (more products or services?) I see us adding compatibility with packages beyond QuickBooks, including Sage, Microsoft Dynamics, NetSuite, and SAP. Furthermore, I see us expanding our comp ability with any device, including mobile and tablets. I also see us adding our expanding services beyond the supply side, in particular working with the sales orders.

Finally, I see us directly linking with B2B portals and B2C networks in order to further stream line the task of placing purchase orders and sales orders. We are uniquely positioned to be a vital bridge between B2B and accounting/erp platforms. We are that nudge for the two universes to talk to each other – this is a great position for a business platform to make a difficult and time consuming task easy.

How many employees do you currently have working with you and/or freelance contractors? I have two employees and use two more as freelancers.

Are you looking to hire more people or contractors? If so, what positions and skills are you looking for? With the launch of RightOn coming in less than a month, I expect strong sales fourth quarter and considerable momentum into 2011. To support this growth, I fully expect to hire more people with sales and marketing skills, social media and writing skills, web design skills, and programming skills. I am also on the lookout for potential leadership partners.

What other web based products would you recommend to entrepreneurs, business owners, or freelancers? There are many fine web based products – I particularly like Dropbox, DimDim, and EnterpriseWizard. I am constantly on the lookout for new products and trying them out. I enjoy free trials – it is a great way to determine if it is worth the expense and will meet your needs.

Any Patents Pending? Yes, we have a patent pending on our process to maintain inventory levels at maximum economic value added, which is the net operating income after taxes minus the cost of capital. It is surprising that the industry has been using business models developed in 1913 that no longer fit the world of business today. Our technology moves businesses from treating inventory decisions as a cost or as an afterthought to an investment.

John Krech
President/Founder/Inventor
ePhiphony Incorporated
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