Technology Drives Inventory Management

It’s always good to know what kind of technological assets your business has at any given time, but some business owners don’t keep a detailed inventory. If you don’t know what you have, how will you know what you need? Let’s discuss some of the ways you can manage your IT inventory or make your current practices more effective.

How to Design a Good Inventory System

First, you’ll need to make sure that your inventory management system can handle what you’re asking of it. Here are some of the features that you should consider:

• Real-time inventory management and tracking
• Alerts for, or fully automated, reordering and restocking
• Barcode scanning
• Reporting and analysis
• Software integrations
• Mobile capabilities
• Supplier management
• Multi-location management
• Simple interfaces
• Scalability

These features give you more opportunities to streamline your inventory management by taking out the manual steps, and it’s all thanks to automation. You’ll always have updated information to make the most informed decisions possible.

Provided your team follows your policies and procedures, that is.

This leads to our next point, which is ensuring your team has the knowledge and responsibilities necessary to make your inventory management system work the way it’s supposed to. Your team basically takes on the task of “quality control” by making sure all errors are caught and corrected. This might involve checking labels, maintaining technology, and other tasks that automation cannot necessarily handle.

Of course, the right tools make this process much easier and more efficient for all parties involved.

You should also make sure your inventory management system can be cross-referenced with other records should the need for an audit or assessment pop up. Generally speaking, you should be doing this anyway, as going too long without an audit of any sort could mean missing resources and assets that could be long gone without you even knowing. It’s important to remember that technology can do a lot of things, but it’s not infallible, and you shouldn’t expect it to be either.

Finally, we recommend that you implement a security and access control system for your inventory management, as you want to avoid unauthorized access and reinforce accountability.

We’ll Help You Manage Your Inventory

Not only is Ferrum Technology Services able to equip your business with the above technology solutions, we also can supply you with top-notch tools to help your company stay efficient and productive. Learn more by calling us today at (847) 697-3282.