Asset Tracking is the Inventory Support You’re Looking For

By February 22, 2017Asset Tracking, Blog

Asset Tracking is the Inventory Support You're Looking For

Inventory management is a delicate balancing act that can sometimes feel like a roller coaster. For any business that maintains an inventory of products, having the ability to accurately view and monitor every aspect of its product(s) from the moment they are received is critical. Having an inventory support partner can make a very daunting and time-consuming component of everyday business more manageable.

Today’s business environment is full of uncertainty when it comes to product demand and the inventory to meet it. Companies are faced with challenges such as long lead times, uncertain customer demand, shipping issues, missed opportunities when a product is out of stock or unavailable, and so much more. The last thing they need to deal with is having to constantly update lists of assets and their associated values in outdated ledgers and spreadsheets to keep up with inventory and assets to track and maintain inventory once it arrives.

With competition on the rise across so many sectors, businesses that carry an inventory of products now more than ever need to maintain accurate information on the movements on their assets to better serve its customers and their needs while at the same time, continue to run a profitable business. Inventory support from an asset management tool can do just that. From managing one closet of product or a multi-facility warehouse operation, the inventory support that asset tracking management provides can drastically cut down manual data entry costs, minimize inventory write-offs and overstocks, and increase efficiencies in businesses supply chain.

The old way of tracking inventory and assets via an online spreadsheet is outdated and prone to a great deal of human error. There is the additional challenge employees face of keeping up with these spreadsheets from one location or across multiple locations when inventory is constantly on the move. Unlike asset tracking software, spreadsheets can’t tell you the location of an item, its condition or maintenance history or who has it in real time.

The inventory support companies receive from asset tracking software can keep track of all aspects of your assets such as make, model, serial number, purchase order numbers, and a host of other data to give you the maximum amount of information about your assets when and where you need it – anytime, and from anywhere. Many platforms come with a bar-code scanner that is accessible from employees’ own cell phones or tablets, and in seconds they can scan items as they come in or go out and its update in the database in a matter of seconds. Everything you need to know about the lifecycle of an asset is in the palm of your hand.

Asset Panda’s Inventory Management Module makes the pain-staking task of constantly updating lists of assets and their values in ledgers and spreadsheets a thing of the past. Our state-of-the-art asset tracking and management platform and free mobile apps work on devices your team is already using to host and track inventory—keeping asset information at your fingertips.

Asset Panda provides anywhere anytime access to real-time asset data, going beyond basic check in/check out, making it easy to verify whether you’ve already purchased an item, track down an existing item, and send reports straight to insurance providers and other necessary parties.

Asset Panda’s inventory management module provides users with the qualitative data needed to:

  • Quickly integrate with legacy systems
  • Seamlessly import data from existing spreadsheets
  • Create customizable reports for relevant, contextual insights
  • Check in/check out keeps you up to date with all relevant information
  • Reduce redundancy, loss and theft
  • Improve budgeting, planning and financial preparation
  • Increase tax and insurance accuracy
  • Better determine appreciation/depreciation value
  • Enhance disaster recovery

Asset Panda provides the inventory support your business needs, so that from anywhere at anytime, your entire workforce can work smarter. Give Asset Panda a try free for 14 days by visiting assetpanda.com.

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