By: Katherine Muniz Mar 31, 2015

7 Ways You Benefit by Using an Inventory Management System

FingerCheck allows you to effortlessly track and manage your employees. But have you ever thought about doing the same for your equipment?

Regardless of industry, having a system in place to track your inventory can save you untold amounts of time, hassle, and frustration. While inventory management is usually associated with heavy construction equipment, such as drills and forklifts, there are plenty of common workplace equipment you can track like phones, laptops, and even vehicles. Better equipment management can make your business more efficient in more ways than you know!

Read on to discover 7 ways it can help you:

1.  Make optimal use of your inventory – Do you know exactly how much of your inventory is in use and how much of it is gathering dust? The more you know about your equipment, the better use you can make of it. By adding all your equipment into a modern software system, you can always know exactly which items are available or in use without having to search through storage.

2.  Plan ahead – Having a complete overview of your current equipment usage gives you the information you need to oversee your inventory in all your facilities. If you have multiple locations, you can call the shots and determine whether you need more equipment. Instead of simply spending more money on physical assets, spend it smarter! Know which equipment is not being used, and which you need more of.

3.  Increase accountability – Much like tracking the attendance of your employees, tracking equipment increases accountability. Inventory management software lets you know which employees make late returns so you can respond accordingly. You can even track equipment condition so you know who to hold accountable when it gets checked back in. Knowing this, your employees will be much more careful when handling your equipment.

4.  Reduce losses & theft – Chances are that there have been times you had no clue when your equipment was due back. Instead of realizing after a week that an item is missing, a software system can notify you as soon as a rental or checkout is overdue. The sooner you take action, the higher the chances that an item will be recovered. You can contact the last person who checked out the item and act with speed and precision instead of sending a company-wide email inquiring about the missing item.

5.  Spend your time right – As a business owner, is spending hours trying to keep track of your equipment the most efficient use of your time? Probably not. Modern tools designed to assist your company’s equipment management can help you spend your time where it has the most impact. Let your equipment management system do the hard work for you.

6.  Safe in the cloud – Instead of storing paper records in your office or sending Excel spreadsheets around, your equipment information can be stored on a secure cloud server. Even if paper records are lost or laptops crash, your equipment information is safely stored online. You’ll no longer have to deal with the hassle of manually keeping paper files or spreadsheets up to date.

7.  Always accessible – You can check your records when you’re in the office – but what happens if you need to check something while you are on the road? With a cloud-based system you have full access to your information anytime, anywhere. The convenience of being able to manage your company equipment from any locale, on any computer is priceless.

You wouldn’t consider using carrier pigeons to communicate with your customers or employees. But many businesses use equipment management methods that are just as outdated. Switching from pigeons to phones and emails revolutionized the way we do business. Why not discover what doing the same for equipment management can do for you?

This guest blog was written by Henri Van Bost, Marketing & Content Manager for CHEQROOM. He loves new technology, with a specific focus on how it can make our everyday lives easier and more comfortable!

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Category: HR

Katherine is a New York-based digital writer who joined Fingercheck in 2015. She promotes Fingercheck through the power of the written word. She graduated from Fordham University with a B.A. in Communications and Media Studies with a focus on Journalism. Connect with her on LinkedIn

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