With manual systems, tracking inventory is a mistake-prone and incredibly frustrating task. Even if you’re positive you’ve got the most reliable employee on the task, human error is inevitable. When you’re dealing with an ever-changing entity like inventory – in which items are continually coming in and going out – manual processes simply don’t work. A single error can lead to bigger issues, like too much or too little inventory. Too much, and you’re throwing money away (products you can’t sell, or products that become outdated and/or spoil); too little, and you’re throwing customers (and, therefore, money) away.
Another consideration: Your inventory holds value and must be reported for accounting and compliance purposes – again making inaccuracies so costly. If you’ve got multiple employees handling your manual inventory tracking, you’ve opened the floodgates to even more confusion. Those multiple employees may be coming up with different calculations, especially if they’re tabulating figures using different methods. Perhaps they’ve duplicated efforts, or a miscommunication leads to an oversight or gap in your recordkeeping. What results is hours of recalculations – and a lot of wasted time and productivity. Manual systems can’t “talk” to each other or sync with one another; nor do they give you an overarching view of your performance so that you can make strategic financial decisions. And, if you’re looking to grow your business (and who isn’t?), and you’re spending your energy tracking inventory the manual way, you’re not using a scalable approach that will grow as you do. The bottom line is this: Tracking inventory is best left to smart technology and automation, leaving you to focus on other priorities.
The best approach to tracking inventory is a mobile one – giving you the ability to review and manage your data on the go. The product you select should be simple to use, and yet powerful and flexible enough to give you choices about how to display and organize your data. You should also be able to add as many users as you’d like without being charged for the privilege.
When it comes to tracking inventory, Asset Panda is heads above the competition. All you need to use it is the mobile device you already carry. With your smartphone or tablet, download the free Asset Panda iOS or Android app. It includes a mobile barcode scanner, so you won’t need a separate handheld scanner to add inventory. The app syncs with the cloud, ensuring that all of your data is served up in real time 24 hours a day. From the palm of your hand, view the entire lifecycle of your inventory, including its exact location, condition and quantities. Create custom reports, alerts and notifications. Here’s a look at how easy it is to add custom fields with the app:
With Asset Panda, you can rest assured that you’re tracking values and making forecasts based on data you can trust. You can add as many stakeholders as you’d like for no additional fee, which helps you increase accountability and accuracy throughout your entire organization. Because Asset Panda’s user interface is simple and intuitive, your employees won’t need any special training to get the hang of it. Best of all, it’s flexible enough to incorporate new technologies as they become available in the future.
Try Asset Panda free for 14 days, and see how the most powerful solution for tracking inventory can deliver measurable results to your organization. To get started, go to assetpanda.com