How Smart are Smartphones For Inventory and Asset Tracking?

By March 13, 2017Asset Tracking, Blog

How Smart are Smartphones For Inventory and Asset Tracking?

Do you often think back and wonder how we ever got anything accomplished without our smartphones? According to a 2015 report from the Pew Research Center, nearly two-thirds of Americans own a smartphone, and 19% of Americans rely to some degree on a smartphone for accessing online services and information and for staying connected to the world around them. The role of the smartphones for inventory control and asset tracking has emerged as an important tool. Terms like “mobile” and “cloud” are being used hand-in-hand with smartphone inventory tools and asset management platforms.

Businesses of all shapes and sizes have assets and/or inventory that need to be tracked on a daily basis. However, tracking all the moving pieces can be quite overwhelming. In today’s competitive business environment, having immediate access to accurate, timely information about assets and inventory at any given second is key. From discussing orders with customers, staying on top of emerging trends with appropriate inventory in place to meet customer demands, or visiting suppliers to stock or restock a product, having real-time knowledge about every asset in your possession is important when it comes to the financial health of a business. Not knowing what you have can lead to unnecessary or duplicate purchases, and let’s face it, cost savings is always at the top of a company’s list when it comes to yearly goals. And it’s not always convenient to get back to a desktop computer to look up information on an asset or item in stock when you’re out of the office.

So how does the smartphone play a role in asset management/tracking or inventory control? In our mobile business climate, companies’ assets are not staying in one place. They are moving between offices across the building or across the country, to and from job sites, between employees or clients, or even used in company vehicles. Mobile devices have been proven to be able to keep up with this type of activity and can provide up to date data on every asset that is stored in the system – from where an asset is, who has it, check in/check out status, and the complete maintenance/repair history.

When it comes to tracking inventory, ensuring that businesses have the right amount available to meet customers’ needs is critical. Asset tracking software comes with mobile applications that allow employees to enter inventory and asset transactions, review stock availability and locations on the go, using their own smartphones.

One of the most relevant roles that smartphones play for asset tracking and inventory control is the addition of barcode scanning capabilities that are included in the software platform. In the not so distant past, if you wanted to track assets and inventory using barcodes, your option was to purchase expensive handheld barcode scanners that could easily be lost or misplaced, not to mention needed repairs and maintenance (just like may of your own assets) and might be out of service for a period of time. Now smartphones (or tablets) can be used 24/7 as barcode scanners. The practice of employing smartphones for asset tracking has also proven itself to be more affordable for businesses in that there is no longer a need to purchase expensive hardware that employees need to share and keep track of.

Smartphones also enable employees to process asset and/or inventory transactions anywhere in the field at any time, giving fellow co-workers an accurate, up-to-date report of where an asset is, who has it, its check in/check out status, maintenance history, and even how much of an item is in inventory – all of which is the main goal of any asset and inventory management program.

An additional feature that smartphones allow over handheld barcode scanners is the ability to provide a photograph of an asset or product. This is especially useful for noting the condition of an item as check in/check out or if you need to provide images of a broken or damaged product for repair or insurance purposes.

Asset Panda is the easiest, most intuitive mobile system to track and manage your assets and control your inventory, giving users control with its integrated asset management system that combines the use of apps, the cloud and barcode scanning using mobile devices that employees already have with them. What this means is anybody with a mobile phone can conduct audits or equipment/inventory searches in the field and that you do not need to purchase expensive barcode scanners.

Asset Panda’s system allows for the storage, sharing, aggregation and manipulation of data and protection of information about assets. Asset Panda can store data in forms such as bar codes, videos, photos, receipts and lease and warranty information. This data is stored and managed in the cloud, where it is safe and accessible via any web browser and mobile devices no matter where users are.

With unlimited fields and configurability, Asset Panda can change as your needs change so that it’s always the perfect platform to meet goals or solve problems. It’s time to look at your smartphone for asset and inventory tracking in a whole new way with a free 14-day trial of Asset Panda. Visit assetpanda.com to start your guided tour.

Start your FREE 14-Day Guided Trial today!

Sign up for your FREE Guided Trial
best live chat