With customer demands and expectations on the rise, companies are under more pressure to ensure that they have an adequate supply of product in stock at all times. Tracking for inventories is a tricky and sometimes time-consuming process, but having a solid inventory and asset tracking tool in place can make the task a breeze!
No matter the size of your business, keeping track of merchandise and consumer demand has always been a top priority for companies that sell a product/products to customers. Add to that the necessity of keeping accurate records on all of your products plus making use of that data has proven to be quite a chore.
Gone are the days when a shared electronic spreadsheet would suffice for tracking all of the inventory in stock. Products are being moved from person to person and place to place, and knowing what you have, where it is and its current status is of utmost importance. Manually entering data in a spreadsheet that anyone can access and alter is asking for trouble. And those errors can be very costly. With more accurate data, companies can make informed decisions about what to order, how much and when it is more/less in demand. This is also helpful when planning special promotions or events to move inventory and make room for new stock. The level of data available that tracking for inventories provides goes way beyond a spreadsheet and can be customized for each individual business and their specific needs.
Tracking for inventories of any size has been made so much easier these days. Without a good inventory tracking system in place, companies often have to guess which is never a good thing. Companies are now able to easily manage supply and inventory levels and even receive alerts when supplies levels are running low. Holding too much inventory ties up capital that could be better used elsewhere, while too little inventory results in unhappy customers and lost revenue.
Thanks to built-in scanners that employees can use from their own smartphones or tablets, they can scan an item’s barcode and include any associated information that needs to go along with it. Other allocated users can know what is in stock, where it is and if there’s anything special they need to be aware of. This instant data also allows companies to know when to reorder products or maybe stop selling a product due to low sales.
Unfortunately, theft in the workplace isn’t uncommon. The U.S Chamber of Commerce estimates that theft by employees costs American companies $20 billion to $40 billion a year. Any item is fair game – stacks of shirts in the back room, computers, even simple office supplies. If you aren’t keeping up with what you have, chances are that someone knows that and will take advantage. Inventory tracking software can provide important data concerning sales or inventory dips. If that data does not show an increase in profits or cash flow, that can be a trigger that something is amiss, and it could be a theft problem. This is just another value that tracking for inventories brings companies.
Asset Panda is the only tool you need when it comes to tracking for inventories in a user-friendly, intuitive format. Asset Panda is flexible and completely customizable. It’s easy to import data from legacy systems and adjust how you organize and display your data. From the custom dashboard, columns and fields to custom notifications, alerts, reports and security settings, Asset Panda was built to adapt to the way you work.
Asset Panda helps you keep track of where all your inventory is/was located, type, and even build a service history for equipment used in the warehouse for future auditing purposes. Create custom fields, generate custom reports, alerts and notifications, select location-based user security and organize your data by location, category or other criteria.
Designed to replace expensive and outdated processes, Asset Panda’s integrated system combines the use of free mobile iOS and Android apps, the cloud and scanning using the devices your employees already carry. Any organization with inventory can use Asset Panda and experience significant and measurable bottom-line results. There’s no need to purchase additional hardware, software or the associated licenses. In fact, you won’t even need to carry a handheld barcode scanner, since the Asset Panda app includes a mobile barcode scanner.
With Asset Panda, the entire lifecycle of your vital inventory lives in the palm of your hand. Give us a free 14-day try by visiting www.assetpanda.com and see how tracking for inventories simply can not get any easier!