Crunching the Numbers on Inventory

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You may have wondered why your budget seems to be bloated with expenses you can't quite put your finger on. A close examination may reveal that your organization is letting funds slip away by not keeping keeping track of the various assets found in the office or on the job site. Although office furniture, printers, and even file cabinets may not seem worthy of your attention, the reality is that the expenses associated with these items can add up. Using an inventory tracking system can keep your costs down and paint a broader picture of how your company is spending money.

Asset Turnover

For companies or groups that deal with specialized equipment, understanding the wear and tear associated with your items shouldn't be left to guesses and estimations. Hard numbers on how often you have to purchase a replacement can help rein in unnecessary requests and spending. For managers, viewing these patterns on purchase dates and replacement values can ensure you get the most use out of the office basics.

Repairs

Asset tracking systems can also illuminate how much money you're spending on repairs. Asset Panda allows for notes to be added to the entries, thus providing more information on each item. This can be vital when sorting out which employees are too rough on equipment. If your company is on a budget, curbing bad habits and trimming expenses is always a welcome activity. The sooner you act, the faster you can get your spending back in line.
By:

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Krista has developed a passion for operational strategy via KPI management, streamlined processes, implementation of automation systems, and scaling Asset Panda. When she isn't attempting to help take the company to new heights, she enjoys spending time with her family, gardening, playing golf, cooking, and a good glass of wine.

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