When we begin to consider the volume of inventory warehoused, managed and distributed by major corporations today, it’s easy to understand why an efficient asset inventory program is absolutely essential for every one of those organizations. The right asset inventory program is not only powerful, it’s easy to use and serves up real-time data that eliminates guesswork and helps stakeholders make informed decisions. Users have access to inventory at every stage of its journey – from warehouse to customer, and can track how many units they’re selling, enabling them to replenish inventory when needed.
At the same time, companies and organizations are faced with the challenge of how to maximize the lifespan of every one of their fixed assets – from computers, monitors, A/V equipment, software and mobile devices to chairs, desks, phones, vehicles and machinery, to name only a few possibilities.
Although the terms are often used interchangeably, there’s a difference between assets and inventory. Inventory is associated with an organization’s stocked goods. Imagine a retailer with a storefront and a warehouse of inventory. Each time an item is purchased at the store, inventory levels are updated to reflect it. A system that isn’t performing as it should could lead to sell-outs and or excessive inventory of an item that isn’t selling according to expectations. In either scenario, the result is lost revenues and disgruntled customers.
Meanwhile, the term assets refers to an organization’s equipment and other items that have long-term use and enable the company to do business. This would include computers, monitors, A/V equipment, mobile devices, office furniture, even buildings. Asset tracking is primarily focused on the movement of these items both inside and outside the organization. Keeping tabs on the whereabouts and condition of your fixed assets is vitally important from an accounting and compliance standpoint. It also allows companies to stay on top of equipment maintenance schedules, saves considerable time since employees no longer have to hunt down lost items, and saves unnecessary costs associated with lost, broken or stolen items. In the worst-case scenario, companies who don’t have a handle on their asset tracking process may discover later that they’ve been paying for “ghost assets,” or assets that have long been missing but not updated in company records.
Making sure that you run a tight ship with regards to your assets and inventory also promotes more accountability and better insight into the workings of your company. You’re effectively closing the communication loop among all stakeholders, helping to eliminate any gaps left when employees move throughout your organization.
Asset Panda offers the most powerful, yet simple mobile asset inventory solution in the world. With a roster of clients spanning everything from global brands to small nonprofits, our flexible tool offers an easy-to-use, completely customizable system that empowers you to track your assets and inventory exactly how you want. Powered by free Android and iOS apps the sync with the cloud, Asset Panda requires no additional hardware or software to operate. The tool includes a mobile barcode scanner for greater convenience and cost savings. Speaking of savings, you’re entitled to an unlimited number of users with Asset Panda at no additional fee.
Not techno-savvy? Good news: You don’t need training to get up to speed with Asset Panda; we’ve designed it to be the most user-friendly product on the market, with a simple user interface, custom dashboard and an extensive list of customizable features, including alerts and notifications, reporting and exporting, fields and actions, user configurable views, sortable columns, the ability to generate work orders and so much more. We’re constantly striving to introduce new features in an effort to make Asset Panda even better. Best of all, every Asset Panda account is a premium account, so all of our clients receive full access to our entire features offering.
Start your free 14-day trial with Asset Panda, and find out why organizations throughout the globe trust us to help them track millions of their most vital assets – powerfully, securely and easily. Visit www.assetpanda.com for more information.