Tracking your inventory means more than just knowing where certain items are at any given time. Software inventory tracking makes it possible to track any number of things related to your inventory process, including the amount of product you have on hand, product trends, and information needed to pass audits.
Here’s exactly how this type of software can simplify your inventory management process:
Inventory Software Helps You Know Where Your Products Are Located
Trying to find a specific item in a large warehouse can take a lot of time. If your employees are spending more than a minute trying to find something, that time can add up. Instead of going on a wild goose chase trying to find something specific, your employees can locate products in seconds, and continue with their normal workday.
“Instead of scrambling to deal with an audit, tracking your inventory information over time makes it easy to pass audits, even if you were only notified of them a few hours before they happen.”
Software Inventory Tracking Makes It Easy to Track Product Trends
Along with knowing where your products are at, software inventory tracking is an easy way to follow product trends over time. Storing information in your inventory database makes it easy for you to see when certain products tend to sell well, which products aren’t earning their keep, and what you need to restock. This means you can ensure you never run out of items that are hot, and you can eliminate products that are only costing you money.
Automatic Inventory Processes Store Information Necessary to Pass Audits
Audits are a normal part of every business. Many times, you need to pass department, company-wide, industry-wide, state, or even federal audits in order to stay in business. Instead of scrambling to deal with an audit, tracking your inventory information over time makes it easy to pass audits, even if you were only notified of them a few hours before they happen. This software is a great way to track information like equipment performance, product sales, and employee records. You can even generate audit reports so auditors can access this information and evaluate your work.
Troublesome Storage Concerns Can Be Addressed With the Right Management System
Storing your inventory means making space for it in your warehouse or office locations. If you only have so much space to work with, you have to make sure you use that space effectively. Relying on an inventory management system makes it easy to optimize your storage options. You can track your items and assign locations that make sense.
Asset Panda understands managing your inventory can be an incredibly complicated process. Trying to wing it is not a good solution. Our inventory tracking software is a great way to ensure you know where your assets are at any given time, so you can get back to work. You’ll also be able to see how your products are performing over time and can eliminate any products which don’t directly bring your company revenue. Audit worries will become a thing of the past because now you’re equipped with the information you need to pass.
One of our clients is a Toronto-based photography studio which rents out equipment to their photographers. Before using Asset Panda, they were relying on a spreadsheet to try to track their assets. After switching, they were able to create a mobile inventory tracking platform that helped them track their photography equipment on each job site as things changed in the field.
Want to see how Asset Panda can improve your inventory tracking process? Sign up for a free guided tour today!
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