Getting a Grasp on Inventory Management Tools

By August 9, 2017Asset Tracking, Blog

Getting a Grasp on Inventory Management Tools

There are many tools a business needs in order to be successful — from the people it employs to the assets used in everyday operations. And if a company is selling or providing a product to customers, inventory plays a very important role in how a company performs. Having the right inventory management tools in place can make a world of difference on how a company is perceived both internally and by its customers.

Inventory and asset tracking have a direct effect on the bottom line. These items typically take up a large part of a company’s operating dollars, so responsible and accurate management is of utmost importance. In today’s competitive business environment, ensuring dollars are spent in an efficient and smart way are top of mind. By employing a good tracking system that includes inventory management tools, companies are better equipped to keep up with all the parts and pieces necessary to run.

Inventory is commonly associated with retail and shopping. When looking for a particular item, customers are more likely to shop at a store that typically has their desired item in stock. Customers want fast reliable service and inventory management tools deliver just that.

Companies need to know in a matter of seconds what inventory they have, where it is and if they don’t have it in stock, when the next shipment is coming in. If a customer can’t get the product they desire from one company, they will go somewhere else to obtain it. And they don’t want to wait while employees search for an item that they may or may not have or make uneducated guesses about when that item might be back in stock. That’s why inventory management is so important. There simply is no room for guesswork anymore.

When used in conjunction with an asset tracking platform, inventory management tools have one of the most important features a company can possess … a real-time means of data retrieval. Today’s modern tracking technology equips companies with a suite of tools ready to simplify the tracking process and deliver up-to-date data about any item, anytime, from anywhere.

The inclusion of a mobile barcode scanner with most tracking systems is proving to be especially useful. This tool is utilized on employees’ own smartphones or tablets and can provide instant updates about any items in question. Employees can enter crucial data about an asset or inventory quickly and easily. Employees have instant knowledge on when an item arrives, how many there are of an item, where it shipped from. When an item is running low, many programs allow employees to set up customized alerts so that they can re-order and keep that desired item in stock.

The level of analysis that inventory management tools provide companies enables them to have more accurate data about what they sell or what doesn’t sell as well. That information can drive promotions, seasonal offers and plans for events and trends more efficiently. By knowing what they have, companies can make more informed decisions. Being more informed helps the business run more effectively, and employees can do their jobs in a more responsible and confident manner.

Asset Panda the best inventory management tool on the market today. Our state-of-the-art tracking and management platform and free Mobile App 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, making it easy to verify whether you’ve already purchased an item, track down an existing item, and send reports to all members of your team.

There’s no need to purchase additional hardware, software or associated licenses. With Asset Panda, the entire lifecycle of every one of your vital assets lives in the palm of your hand. Asset Panda features a plethora of inventory management tools that enable companies to run much more smoothly. This revolutionary platform gives vital data on date of purchase information, insurance details, maintenance history, who currently has an asset, the GPS location information, and much more. Users can schedule service and even use Asset Panda as an enterprise service desk to drastically reduce the number of support calls your organization has to handle.

Simply stated, Asset Panda saves time and money. Our system can be up and running quickly allowing employees to get back to their jobs.  Join people all over the world who trust Asset Panda to track and manage their inventory with a free 14-day trial. Visit assetpanda.com to get started.

 

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