Your company has a lot of inventory to manage each work day. Maybe you’ve tried using spreadsheets or keeping track of it all by hand. You know you should probably switch over to an inventory software, but you’re not sure if you can justify the cost. After all, what’s the worst that could happen?
Here are some of the problems you’ll encounter if your team doesn’t start using an inventory software to manage your products and assets.
You’ll Lose Thousands of Dollars
A poorly kept inventory easily turns into a money sink hole. From paying your employees for the time they spend taking inventory, to trying to replace all of the items you can’t seem to find, there are several ways the process can start to drain your budget.
Items Will Keep Disappearing without Inventory Software
Without a good system in place, it’ll be hard for you and your team to track down what you have. Maybe your items are truly lost, but most of the time, they’re just located in a place you can’t track down. And with each important asset or product that walks away, you’ll be looking at hundreds of dollars in lost revenue.
Your Workers Will Waste Time
If you aren’t using an inventory software, you’re spending dozens of hours on manually completing the inventory process. Your workers are spending time going to different warehouse locations, locating the right items, and then counting them by hand. After that, they have to take the time to update inventory records. Depending on how much inventory you have, you might have to do this several times a day.
You Won’t Know What You Have on Hand
Do you have a customer order you need to fill as soon as possible? Or is there a work order that one of your employees needs to complete the task at hand? While you can do your best to keep accurate inventory records by hand, statistics show that you will miss something. That means that you won’t know if you have the items you need to fill customer or work orders. This means your customers will be unhappy, and your employees will waste time waiting for a work order to come in.
Inventory Records Will be Filled With Errors
No one means to make mistakes, but that doesn’t prevent them from happening. Keeping inventory by hand results in many mistakes that just don’t happen when you use the right software program. People have bad days, and can easily lose track of what they’re doing if they have something else on their mind.
Your Workplace Will Promote Theft
When you don’t have a clear picture of what you have on hand, it’ll be easy to miss when things disappear. Most of your employees are well intentioned, but when people feel like they can get away with something, they are more likely to try it. If your employees know that you won’t be able to figure out where an item has gone, they’ll feel like there won’t be consequences for them to walk off with assets.
The good news is that you don’t have to accept these problems as part of doing business. Asset Panda can help prevent all of these issues and more. The easy-to-use interface means you won’t have to spend hours figuring out the best way to set it up, and you’ll also end up saving time with our program! Our customer service is always on hand to help you with anything you can’t do on your own. If you’re interested in trying Asset Panda for your business, click here to start a free 14-day trial.