I've been told that it is very important for me to memorize where every note is on the fretboard. I am an intermediate player in a band, and while none of my bandmates really know much theory or anything to the point where I NEED to learn this, I still want to know my instrument inside and out, like the back of my hand. I'm sure this will put me further on the right track to becoming a better bass player and also a better musician. So yeah, what's the fastest/most efficient exercise I can do? Just running up an down fret by fret?