We know what Inventory Management Software you need, because we were in the business ourselves. We also provide barcoding and Scanning as an option for all of our products. If your company is made up of stock inventory in the form of raw materials, semi-finished items or ready to ship items then it is better to get inventory software or an inventory system in place to increase accuracy, efficiency and control. An effective, self customizable and easy to use inventory system can improve your cost, cut down on human resource and allow for growth.
Inventory Software is a company's merchandise, raw materials, and finished and unfinished products which have not yet been sold. These are considered liquid assets, since they can be converted into cash quite easily. There are various means of valuing these assets, but to be conservative the lowest value is usually used in financial statements.
is designed to help you keep a handle on the goods. No matter whether you're working with supplies, finished products, spare parts, or consumables, inventory tracking software will let you know whether the crate has left the dock (or whether it never got there in the first place). "Do you have any idea where my order is?" With a top-notch inventory tracking software package, you'll know exactly where everything is at any given time. Is the stuff that's supposed to be in your stock room really in the stock room?
A comprehensive inventory management system will follow the path as products are received, stored, inventoried, picked, packed, and shipped. When you implement inventory tracking software, data is collected and stored at every step of the way. Barcode or RFID printing and scanning are core offerings of many inventory management systems, with portable RF terminals that beam the information right from the warehouse floor. Technology, however, marches ever onward. While Barcode or RFIDs are an essential component of most systems, RFID tags will increasingly become an option in cutting-edge operations. The real-time inventory information afforded by these technologies provides customer service with the data they need to keep your customers happy and your suppliers in line.
Inventory Control and Inventory Software
ASAP Systems has developed many Inventory Management Software and inventory tracking solutions to offer small business the effectiveness of large companies at prices that are affordable. Complete inventory tracking solutions made by the leaders in small business Inventory Software productivity. Managing inventory has never been as easy! ASAP Systems lets you take full control of your inventory and invoicing. Get ahead of your competition with this Inventory Management Software. Our full Barcode or RFID support will save you time and hassle. Just attach a Barcode or RFID reader to your PC and it will fully integrate with the software. ASAP Systems makes it difficult to misplace or lose assets. Run our Barcode or RFID software from most handheld Barcode or RFID readers with the same ease as you would from a client computer in the office. ASAP Systems Inventory Software is an Inventory System for businesses of all sizes.
Our complete Inventory Management Software is packed with helpful features to make your business more professional and profitable. Create invoices and manage stock from your front and back office. All of our Inventory Control Software and invoice software runs on Windows 98/Me/NT/2000/XP/Vista.
It is easy to create invoices, goods management, goods category management, accomplish Inventory Control like invoice management, stock balance management, staff sales records management and staff permission management. Managed Inventory is a streamlined approach to inventory management and order fulfillment. Managed inventory involves collaboration between suppliers and their customers
Instead of sending purchase orders, customers electronically send daily demand information to the supplier. The supplier generates replenishment orders for the customer based on this demand information. The process is guided by mutually agreed upon objectives for the customer's inventory levels, fill rates, and transaction costs.
The goal of VMI is to align business objectives and streamline supply chain operations for both suppliers and their customers. The business value is a direct result of increased information flow:
• Improved Inventory Turns
• Improved Service
• Increased Sales
Inventory Control reduces expensive inventory errors, improves customer service, and will increase the value of your business. ASAPâ€™s Inventory Software and inventory tracking solutions are easy-to-use without the cost or difficulty of larger inventory tracking systems.
Use our Inventory Software with a wireless Barcode or RFID scanner and collect data promptly and accurately. Update the server in real time using wireless Barcode or RFID readers. Receive on PO, material issues and ship to your customer using Barcode or RFIDs. We also can write customized programs to meet your specific requirements.
Our Inventory Software offers efficient inventory tracking for QuickBooks users. If you are a growing company using QuickBooks for accounting and need better inventory control, then our Inventory Software may be the answer for you.
Will our Inventory System help you?
• Does my company have a part in manufacturing, wholesale, or distributing processes?
• Do I use QuickBooks?
• Do I have physical inventory?
• Do I have multiple locations?
If you answered 'Yes' to any of these, take the tour below.
ASAP Systems Will Help Your Bottom Line:
• Increase inventory accuracy
• Increase worker efficiency/productivity
• Automate your order processes
• Minimize product loss
People choose our Inventory Software for its incredible value. A great fit for any industry, our Inventory Software is the #1 inventory control solution for small and medium-sized businesses because of the savings of increased efficiency and accuracy. Don't leave QuickBooks when you can combine it with our Inventory System for the best inventory control coupled with the best accounting software.
A data warehouse stores data from current and previous years that has been extracted from the various operational databases of an organization. It is the central source of data that has been screened, edited, standardized and integrated so that it can be used by managers and other end user professionals throughout an organization.
The inventory control problem:
is a type of problem encountered within the field of optimal control.
One issue is infrequent large orders vs. frequent small orders. Calculating shipping costs, volume discounts, storage costs, and capital costs, this can be figured with mathematical precision. Basically, how much money do you wish to have tied up in inventory?
Maintaining right amount of inventory is essential to every business. Too less or excess of inventory both are harmful for any entity's existence. The cost of inventories is regulated through inventory control. The problems in this field arise due to malpractices like old-fashioned support systems, poor processes, etc.
A second issue is having the needed merchandise on hand in order to make sales during the appropriate buying season(s). A classic example is a toy store pre-Christmas. If one does not have the items on the shelves, one will not make the sales. And the wholesale market is not perfect. There can considerable delays, particularly with the most popular toys. So, the entrepreneur or business manager will buy on spec. Another example is a furniture store. If there is a six week, or more, delay for customers to get merchandise, some sales will be lost. And yet another example is a restaurant, where a considerable percentage of the sales are the value-added aspects of food preparation and presentation, and so it is rational to buy and store somewhat more to reduce the chances of running out of key ingredients. With all these examples, the situation often comes down to these two key questions: How confident are you that the merchandise will sell, and how much upside is there if it does?
And a third issue comes from the whole philosophy of Just In Time, which argues that the costs of carrying inventory have typically been under-estimated, both the direct, obvious costs of storage space and insurance, but also the harder-to-measure costs of increased variables and complexity, and thus decreased flexibility, for the business enterprise.
Actual cost inventory costing method used in manufacturing environments that uses the actual materials costs, machine costs, and labor costs reported against a specific work order to calculate the cost of the finished item.
We offer a complete inventory management system that performs multi warehouse stock control. System has receiving and shipping functions generates invoices, sale receipt. Export and import functions.
ASAP systems software builds a complex profile of your software and hardware, missing Microsoft hotfixes, anti-virus status, and displays the results in your Web browser. All of your PC profile information is kept private on your PC and is not sent to any web server.
Our Inventory Software solution is created around the type of items and your efficiency goals. The Inventory Software is the base with components like Barcode or RFID scanner, Barcode or RFID label printer. There is Retail Inventory System, stockroom inventory, warehouse Inventory System, and fixed asset inventory. For the most efficient Inventory System should be integrated with the rest of your operations like sales, shipping and receiving, accounting, and billing. You still can isolate the inventory tracking if that is critical to your operation.
Advanced planning and scheduling software system designed to integrate with ERP and MRP systems to enhance the short term production planning and scheduling systems that are notoriously inadequate in MRP systems. Our inventory and Fixed Asset systems have extensive programming logic that allows them to be more effective in dealing with rapidly changing customer demands.
System security in our Inventory Software allows you to share information with customers, employees, and vendors while protecting it. You assign the insert, read, modify, or delete privileges for each user or group down to the field level. Users will have access to only the data you want them to see.
Our Inventory Software allows you to modify field names with the click of a button. You can change our field names and software messages to match your industry terminology and you can even establish custom configurations. Each workstation can have a unique configuration of our Inventory Software for itself.
Advanced shipment notification advanced shipment notifications (ASNs) in our Passport Inventory Software, Assets and Evidence system are used to notify a customer of a shipment. ASNs will often include PO numbers, SKU numbers, lot numbers, quantity, pallet or container number, carton number. ASNs may be paper-based, however, electronic notification is preferred.
Our Inventory Management System lets you take full control of your inventory and invoicing. Save time, manage customers and get ahead of your competition with our Inventory Software. Our Inventory Software has a standard integrated interface. This interface is sold separately and completes a total Enterprise Resource Planning solution. Our Inventory Software can be customized to interface with an accounting system if you already have one.
We offer flexible Inventory Management Software for Windows users. Our Inventory System includes a vigorous reporting system that allows you to query virtually every aspect of the system and to format the report as your needs permit. Additionally, you can quickly browse an entire family of information because the data is organized in a hierarchical tree format.
ASAP Systems provides Passport Inventory Software System for the real time management of inventory items. Our Inventory Software System supports updating inventory information for all items, importing and exporting inventory information to and from external systems of record, and monitoring inventory depletion. Our Inventory Software System serves the needs of shoppers, business managers, and site administrators.
When you select a particular inventory management software certain things have to be taken into consideration like cost of ownership, savings achieved on employees’ salaries, purchase order processing and so on. Research and plan accordingly before installing any inventory or fixed assets software. Maybe one type of software that worked for some other business type not work for yours! Therefore evaluate its usability, scalability and long term / reoccurring cost properly.
An Inventory Control System is an integrated package of software and hardware used in warehouse operations, and elsewhere, to monitor the quantity, location and status of inventory as well as the related shipping, receiving, picking and put away processes In common usage, the term may also refer to just the software components.
Modern Inventory Control systems rely upon Barcode or RFIDs, and potentially RFID tags, to provide automatic identification of inventory objects. In an academic study performed at Wal-Mart, RFID reduced Out of Stocks by 30 percent for products selling between 0.1 and 15 units a day. Inventory objects could include any kind of physical asset: merchandise, consumables, fixed assets, circulating tools, library books, or capital equipment. To record an inventory transaction, the system uses a Barcode or RFID scanner or RFID reader to automatically identify the inventory object, and then collects additional information from the operators via fixed terminals(workstations), or mobile computers.
An Inventory Control system may be used to automate a sales order fulfillment process. Such a system contains a list of order to be filled, and then prompts workers to pick the necessary items, and provides them with packaging and shipping information.
Real time Inventory Control systems use twireless, mobile terminals to record inventory transactions at the moment they occur. A wireless LAN transmits the transaction information to a central database.
Physical inventory counting and cycle counting are features of many stock Inventory Control systems which can enhance the organization.
An inventory valuation allows a company to provide a monetary value for items that make up their inventory. Inventories are usually the largest current asset of a business, and proper measurement of them is necessary to assure accurate financial statements. If inventory is not properly measured, expenses and revenues cannot be properly matched and a company could make poor business decisions.
When ending inventory is incorrect, the following balances of the balance sheet will also be incorrect as a result: merchandise inventory, total assets, and owner's equity. When ending inventory is incorrect, the cost of merchandise sold and net income will also be incorrect on the income statement.
The inventory accounting involves two major aspects:
The cost of the purchased or manufactured inventory has to be determined and
Such cost is retained in the inventory accounts of the company until the product is sold
Inventory Software accounting systems:
The two most widely used inventory accounting systems are the periodic and the perpetual.
Perpetual: The perpetual inventory system requires accounting records to show the amount of inventory on hand at all times. It maintains a separate account in the subsidiary ledger for each good in stock, and the account is updated each time a quantity is added or taken out.
Periodic: In the periodic inventory system, sales are recorded as they occur but the inventory is not updated. A physical inventory must be taken at the end of the year to determine the cost of goods sold. Regardless of what inventory accounting system is used, it is good practice to perform a physical inventory at least once a year.
Cloud computing is the delivery of computing and storage capacity as a service to a community of end-recipients. The name comes from the use of a cloud-shaped symbol as an abstraction for the complex infrastructure it contains in system diagrams. Cloud computing entrusts services with a user's data, software and computation over a network.
Using Software as a Service, users also rent application software and databases. The cloud providers manage the infrastructure and platforms on which the applications run.
End users access cloud-based applications through a web browser or a light-weight desktop or mobile app while the business software and user's data are stored on servers at a remote location. Proponents claim that cloud computing allows enterprises to get their applications up and running faster, with improved manageability and less maintenance, and enables IT to more rapidly adjust resources to meet fluctuating and unpredictable business demand.
Cloud Computing is another word for the Internet, "the cloud" is a more renounced terminology, but when combined with software as a service it gets bigger and vague. Some folks define cloud computing as a mainframe: basically server farms available over the Internet. Â Â In other words it can be described as applications outside your firewall: "in the cloud.”
Software As a Service
Software as a service (SaaS, pronounced aes or sas), sometimes referred to as "on-demand software", is a software delivery model in which software and associated data are centrally hosted on the cloud. SaaS is typically accessed by users using a thin client via a web browser.
SaaS has become a common delivery model for many business applications, including accounting, collaboration, customer relationship management (CRM), management information systems (MIS), enterprise resource planning (ERP), invoicing, human resource management (HRM), content management (CM) and service desk management. SaaS has been incorporated into the strategy of all leading enterprise software companies. One of the biggest selling points for these companies is the potential to reduce IT support costs by outsourcing hardware and software maintenance and support to the SaaS provider.
This type of cloud computing AKA SAAS also delivers a single application that can be accessed through a user’s browser hundreds of customers using 2 or three tier architecture. On the user side, it means no IT infrastructure is need other than access to the internet or need to buy and own software.
The accounting method that a company decides to use to determine the costs of inventory can directly impact the balance sheet, income statement and statement of cash flow. There are three inventory-costing methods that are widely used by both public and private companies:
* First-In, First-Out (FIFO) - This method assumes that the first unit making its way into inventory is the first sold. For example, let's say that a bakery produces 200 loaves of bread on Monday at a cost of $1 each, and 200 more on Tuesday at $1.25 each. FIFO states that if the bakery sold 200 loaves on Wednesday, the COGS is $1 per loaf (recorded on the income statement) because that was the cost of each of the first loaves in
inventory. The $1.25 loaves would be allocated to ending inventory (appears on the balance sheet).
* Last-In, First-Out (LIFO) - This method assumes that the last unit making its way into inventory is sold first. The older inventory, therefore, is left over at the end of the accounting period. For the 200 loaves sold on Wednesday, the same bakery would assign $1.25 per loaf to COGS while the remaining $1 loaves would be used to calculate the value of inventory at the end of the period.
* Average Cost - This method is quite straightforward; it takes the weighted average of all units available for sale during the accounting period and then uses that average cost to determine the value of COGS and ending inventory. In our bakery example, the average cost for inventory would be $1.125 per unit, calculated as [(200 x $1) + (200 x $1.25)]/400.
An important point in the examples above is that COGS appears on the income statement, while ending inventory appears on the balance sheet under current assets. (For more insight, see Reading The Balance Sheet.)
Why Is Inventory Important?
If inflation were nonexistent, then all three of the inventory valuation methods would produce the exact same results. When prices are stable our bakery would be able to produce all of its loafs of bread at $1, and FIFO, LIFO and average cost would give us a cost of $1 per loaf.
Unfortunately, the world is more complicated. Over the long term, prices tend to rise, which means the choice of accounting method can dramatically affect valuation ratios.
If prices are rising, each of the accounting methods produce the following results:
* FIFO gives us a better indication of the value of ending inventory (on the balance sheet), but it also increases net income because inventory that might be several years old is used to value the cost of goods sold. Increasing net income sounds good, but remember that it also has the potential to increase the amount of taxes that a company must pay.
* LIFO isn't a good indicator of ending inventory value because the left over inventory might be extremely old and, perhaps, obsolete. This results in a valuation that is much lower than today's prices. LIFO results in lower net income because cost of goods sold is higher.
* Average cost produces results that fall somewhere between FIFO and LIFO.
(Note: if prices are decreasing then the complete opposite of the above is true.)
One thing to keep in mind is that companies are prevented from getting the best of both worlds. If a company uses LIFO valuation when it files taxes, which results in lower taxes when prices are increasing, it then must also use LIFO when it reports financial results to shareholders. This lowers net income and, ultimately, earnings per share.
Let's examine the inventory of Cory's Tequila Co. (CTC) to see how the different inventory valuation methods can affect the financial analysis of a company.
Average cost inventory costing method that recalculates an item's cost at each receipt by averaging the actual cost of the receipt with the cost of the current inventory.
For example, if one share of Company A's stock is purchased on June 1 for $50.00, again on June 15 for $35.00, and again on Aug 10 for $40.00, the average- cost method assumes that three stocks were purchased for an average cost of $41.67. This number is arrived at by adding $50.00 + $35.00 + $40.00 and dividing the sum by 3, because there are three stocks in the pool.
LIFO: Last-in-first-out in warehousing, describes the method for using the newest inventory first (I've never seen an operation that uses this). In accounting, it's a term used to describe an inventory costing method.
LIFO is an acronym which stands for last in, first out. By definition, in a LIFO structured linear list, elements can be added or taken off from only one end, called the "top". A LIFO structure can be illustrated with the example of a narrow, crowded elevator with a small door. When the elevator reaches its destination, the last people to get on have to be the first to get off.
The term in computing generally refers to the abstract principles of list processing and temporary storage, particularly when there is a need to access the data in limited amounts, and in a certain order. LIFO is most used in cases where the last data added to the structure must be the first data to be removed or evaluated. A useful analogy is of the office worker: a person can only handle one page at a time, so the top piece of paper added to a pile is the first off; parallel to limitations such as data bus width and the fact that one can only manipulate a single binary data address in a computer at a time. The abstract LIFO mechanism, when applied to computing inevitably devolves to the real data structures implemented as stacks whose eponymous relation to the "stack of paper", "stack of plates" should be obvious. Other names for the device are "Push down list" and "piles" The term FILO ("first in, last out") can be used synonymously, as the term emphasizes that early additions to the list need to wait until they rise to the LIFO structure "top" to be accessed. The difference between a generalized list, an array, queue, or stack, is defined by the rules enforced and used to access the mechanism. In any event, a LIFO structure is accessed in opposite order to a queue: "There are certain frequent situations in computer science when one wants to restrict insertions and deletions so that they can only take place at the beginning or end of the list, not in the middle. Two of the data structures useful in such situations are stacks and queues."
Stack structures in computing are extremely fundamental and important. It is fair to say that without the ability to organize data by order rearrangement, including links to executable code, computers would not be the flexible tools they are today, and exist solely as expensive special purpose calculators like the ENIAC of World War II having limited abilities and scope of application.
In such data orderings, the stack is used as a dynamic memory element wherein an abstract concept a machine dependent Stack frame is used to contain copies of data records or parts thereof be they actual memory addresses of a data element (See parameters pass-by-reference), or a copy of the data (pass-by-value). In list processing, the most common need is sorting (alphabetically, greatest to smallest, etcetera.) where the machine is limited to comparing only two elements at a time, out of a list that likely holds millions of members. Various strategies (computer algorithms) exist which optimize particular types of data sorting, but in implementation all will resort to a sub-program and or sub-routines that generally call themselves or a part of their code recursively in each call adding to the list temporarily reordered in stack frames. It is for this reason, stacks and recursion are usually introduced in parallel in data structures courses they are mutually interdependent.
It is through the flexibility of this access to data by stack-frames with their data re-groupings (in abstract a LIFO organized block of data which seems only to allow data some improvement on ordering flexibility) that sub-programs and sub-routines receive their input, do the task they are optimized to perform, and pass information back to the program segment currently in charge. The stack frame in actual cases includes the address of the next instruction of the calling program segment, which ordinarily then does something with the data "answer" processed by the subroutines or subprogram. In a recursive call, this is generally an instruction to check the next list element versus the returned "answer" (e.g. largest of the last two compared), until the list is exhausted.
Consequently, in real world implementations of the LIFO abstraction, the number of stack frames varies extremely often, each sized by the needs of the data elements that need manipulated. This can be likened to a LIFO pile of booklets or brochures, rather than a thin sheet of paper.
FIFO First-in-first-out. In warehousing describes the method of rotating inventory to used oldest product first. Actually an accounting term used to describe an inventory costing method. FIFO is an acronym for First In, First Out, an abstraction in ways of organizing and manipulation of data relative to time and prioritization. This expression describes the principle of a queue processing technique or servicing conflicting demands by ordering process by first-come, first-served (FCFS) behaviour: what comes in first is handled first, what comes in next waits until the first is finished, etc.
Thus it is analogous to the behavior of persons queueing (or "standing in line", in common American parlance), where the persons leave the queue in the order they arrive, or waiting one's turn at a traffic control signal. FCFS is also the shorthand name (see Jargon and acronym) for the FIFO operating system scheduling algorithm, which gives every process CPU time in the order they come. In the broader sense, the abstraction LIFO, or Last-In-First-Out is the opposite of the abstraction FIFO organization, the difference perhaps is clearest with considering the less commonly used synonym of LIFO, FILOâ€”meaning First-In- Last-Out. In essence, both are specific cases of a more generalized list (which could be accessed anywhere). The difference is not in the list (data), but in the rules for accessing the content. One sub-type adds to one end, and takes off from the other, its opposite takes and puts things only on one end.
A priority queue is a variation on the queue which does not qualify for the name FIFO, because it is not accurately descriptive of that data structure's behavior. Queueing theory encompasses the more general concept of queue, as well as interactions between strict-FIFO queues.
Our Inventory management software:
Passport's inventory management can be broken into two categories: Data ManagementSoftware, and Warehouse Management Systems. Each category contains a variety of inventory tracking capabilities. Depending upon the size and complexity of your operations, PassportÂ© has software that's right for you.
Passport Stock provides basic, easy to use inventory tracking and management capabilities. DMS software applications track inventory to a location. PassportÂ© Stock software packages include Inventory, Stockroom, Check In-Out, Proof of Delivery, and Fixed Assets tracking.
Passport Warehouse Management Solution (WMS) software is available in three veriety. All WMS applications provide basic warehouse functions of Inventory, Shipping Receiving and Picking (ISRP). PassportÂ© WMS solutions all contain a standard application interface (API), for easy integration with accounting software or enterprise resource planning (ERP) systems.
Passport Inventory Management Software, Shipping and Receiving (ISRP)
Inventory, Shipping, Receiving, and Picking Software for small warehouses Our Inventory Software is perfect for small warehouses, order fulfillment centers, and e-commerce businesses. Four fully integrated functions save time and simplify inventory tracking, shipping, receiving and picking.
Passport Stockroom is an affordable, easy to use, perpetual inventory system. Track supplies and consumable inventories. By knowing what you have and how much, you can save money on purchasing. Our WMS is a reliable, affordable, and easy to use warehouse management solution with wireless data transmission. Cycle counting, kitting, replenishment, space management and many more functions are available to manage your warehouse operations efficiently with wireless technology.
Periodic versus perpetual systems:
There are fundamental differences for accounting and reporting merchandise inventory transactions under the periodic and perpetual inventory systems. To record purchases, the periodic system debits the Purchases account while the perpetual system debits the Merchandise Inventory account. To record sales, the perpetual system requires an extra entry to debit the Cost of goods sold and credit Merchandise Inventory. By recording the cost of goods sold for each sale, the perpetual inventory system alleviated the need for adjusting entries and calculation of the goods sold at the end of a financial period, both of which the periodic inventory system requires. In Perpetual Inventory System there must be actual facts and figures.
Using non-cost methods to value inventory:
Under certain circumstances, valuation of inventory based on cost is impractical. If the market price of a good drops below the purchase price, the lower of cost or market method of valuation is recommended. This method allows declines in inventory value to be offset against income of the period. When goods are damaged or obsolete, and can only be sold for below purchase prices, they should be recorded at net realizable value. The net realizable value is the estimated selling price less any expense incurred to dispose of the good.
Methods used to estimate inventory cost:
In certain business operations, taking a physical inventory is impossible or impractical. In such a situation, it is necessary to estimate the inventory cost.
Two very popular methods are 1)- retail inventory method, and 2)- gross profit (or gross margin) method. The retail inventory method uses a cost to retail price ratio. The physical inventory is valued at retail, and it is multiplied by the cost ratio (or percentage) to determine the estimated cost of the ending inventory.
The gross profit method uses the previous years average gross profit margin (i.e. sales minus cost of goods sold divided by sales). Current year gross profit is estimated by multiplying current year sales by that gross profit margin, the current year cost of goods sold is estimated by subtracting the gross profit from sales, and the ending inventory is estimated by adding cost of goods sold to goods available for sale.
Technology and computing: WMS Definitions
Warehouse management system: a component of the movement and storage of materials within a warehouse
Web Map Service: a specification which comprises a definition for Internet map servers
Windows Media Services: the streaming media server from Microsoft WMS (software): watershed simulation software
Workflow management system: technology that enables workflow procedures
Welfare management system: the system used in New York State for receiving, maintaining and processing information relating to persons who apply for benefits.
Our solution Focuses on: Warehouse Management System or Warehouse Management Systems which in turn is defined by Wikipedia as such:
Warehouse management system:
A warehouse management system, or WMS, is a key part of the supply chain and primarily aims to control the movement and storage of materials within a warehouse and process the associated transactions, including shipping, receiving, put away and picking. The systems also direct and optimize stock put away based on real-time information about the status of bin utilization. Warehouse management systems often utilize Auto ID Data Capture (AIDC) technology, such as barcode scanners, mobile computers, wireless LANs and potentially Radio-frequency identification (RFID) to efficiently monitor the flow of products. Once data has been collected, there is either a batch synchronization with, or a real-time wireless transmission to a central database. The database can then provide useful reports about the status of goods in the warehouse. The objective of a warehouse management system is to provide a set of computerized procedures to handle the receipt of stock and returns into a warehouse facility, model and manage the logical representation of the physical storage facilities (e.g. racking etc), manage the stock within the facility and enable a seamless link to order processing and logistics management in order to pick, pack and ship product out of the facility. Warehouse management systems can be stand alone systems, or modules of an ERP system or supply chain execution suite. The primary purpose of a WMS is to control the movement and storage of materials within a warehouse â€“ you might even describe it as the legs at the end-of-the line which automates the store, traffic and shipping management.
In its simplest form, the WMS can data track products during the production process and act as an interpreter and message buffer between existing ERP and WMS systems. Warehouse Management is not just managing within the boundaries of a warehouse today, it is much wider and goes beyond the physical boundaries. Inventory management,inventory planning, cost management, IT applications & communication technology to be used are all related to warehouse management. The container storage, loading and unloading are also covered by warehouse management today.Warehouse management today is part of SCM and demand management. Even production management is to a great extent dependent on warehouse management. Efficient warehouse management gives a cutting edge to a retail chain distribution company. Warehouse management does not just start with receipt of material but it actually starts with actual initial planning when container design is made for a product. Warehouse design and process design within the warehouse (e.g. Wave Picking) is also part of warehouse management. Warehouse management is part of Logistics and SCM.
Warehouse Management monitors the progress of products through the warehouse. It involves the physical warehouse infrastructure, tracking systems, and communication between product stations. Warehouse management deals with receipt, storage and movement of goods, normally finished goods, to intermediate storage locations or to final customer. In the multi-echelon model for distribution, there are levels of warehouses, starting with the Central Warehouse(s), regional warehouses services by the central warehouses and retail warehouses at the third level services by the regional warehouses and so on. The objective of warehousing management is to help in optimal cost of timely order fulfillment by managing the resources economically. Warehouse management = "Management of storage of products and services rendered on the products within the four walls of a warehouse."
Asset Management & Tracking Software
Fixed asset, also known as property, plant, and equipment (PP&E), is a term used in accountancy for assets and property which cannot easily be converted into cash. can be compared with current assets such as cash or bank accounts, which are described as liquid assets. In most cases, only tangible assets are referred to as fixed. These are items of value which the organisation has bought and will use for an extended period of time; fixed assets normally include items such as land and buildings, motor vehicles, furniture, office equipment, computers, and fittings, and plant and machinery. often receive favorable tax treatment (depreciation allowance) overshort-term assets.
The question above would not be best answered without giving consideration to the meaning of Fixed Asset. Fixed Assets are items of property, plant and equipment engaged by a business entity in the generation and expansion of revenue. According to International Accounting Standard (IAS) 16, Fixed Assets are assets whose future economic benefit is probable to flow into the entity, whose cost can be measured reliably.
It is pertinent to note that the cost of a fixed asset is its purchase price, including import duties and other deductible trade discounts and rebates. In addition, cost attributable to bringing and installing the asset in its needed location and the initial estimate of dismantling and removing the item if they are eventually no longer needed on the location.
Depreciation is simply put to be the expense generated by the use of an asset. It is the wear and tear of an asset or diminution in the historical value owing to usage. Further to this; it is the cost of the asset less any salvage value over its estimated useful life. It is an expense because it is matched against the revenue generated through the use of the same asset. Depreciation is usually spread over the economic useful life of an asset because it is regarded as the cost of an asset absorbed over its useful life. Invariably the depreciation expense is charged against the revenue generated through the use of the asset. The method of depreciation to be adopted is best left for the management to decide in consideration to the peculiarity of the business, prevailing economic condition of the assets and existing accounting guideline and principles as implied in the organizational policies.
The primary objective of a business entity is to make profit and increase the wealth of its owners. In the attainment of this objective it is required that the management will exercise due care and diligence in applying the basic accounting concept of “Matching Concept”. Matching concept is simply matching the expenses of a period against the revenues of the same period.
The use of assets in the generation of revenue is usually more than a year- that is long term. It is therefore obligatory that in order to accurately determine the net income or profit for a period depreciation is charged on the total value of asset that contributed to the revenue for the period in consideration and charge against the same revenue of the same period. This is essential in the prudent reporting of the net revenue for the entity in the period.
Net book value of an asset is basically the difference between the historical cost of that asset and it associated depreciation. From the foregoing, it is apparent that in order to report a true and fair position of the financial jurisprudence of an entity it is relatable to record and report the value of fixed assets at its net book value. Apart from the fact that it is enshrined in Standard Accounting Statement (SAS) 3 and IAS 16 that value of asset should be carried at the net book value, it is the best way of consciously presenting the value of assets to the owners of the business and potential investor.
In finance, a revaluation of fixed assets is a technique that may be required to accurately describe the true value of the capital goods a business owns.
Fixed assets are held by an enterprise for the purpose of producing goods or renderingservices, as opposed to being held for resale in the normal course of business. For example, machines, buildings, furniture, and patents are fixed assets.
The purpose of a revaluation is to bring into the books the fair market valueof fixed assets. This may be helpful in order to decide whether to invest in another business. If a company wants to sell one of its assets, it is revalued in preparation for sales negotiations.
Benefits of Barcode or RFIDs and Portable Handhelds with Inventory Software
Are you required to take a physical inventory? Are you one of those countless small and midsized businesses that spend hours taking physical inventory by hand with pen and paper? We feel your pain. No matter the size, a small one-person shop or a full warehouse, the process is all the same. Taking inventory is a tedious, time-consuming process and if you are using paper you open the door to human error.
Say a client stores material for a manufacturer. They deliver the material on demand to this customer. They are required to supply detailed inventory of available material to the customer monthly. Their customer depends on that count to support their lean manufacturing practices. To this client that meant shutting down the warehouse, bringing in the crew, paying overtime and counting over a quarter million individual items. Their problem was solved with Passport Warehouse Management System (WMS) using Barcode or RFIDs for locations, tracking inventory receipts, moves and shipments using Wireless Portable Data Collectors. The result is that the reduction in time spent taking inventory was 60%. This was achieved by using a mix of cycle counts and only one yearly physical. Inventory accuracy soared to 99.8%.
You do not need to be a big warehouse to utilize an inventory counting system; the technology doesn’t have to be expensive. Think about this. Another client runs a small chain of restaurants who, weekly needs to count inventory to determine the next week’s bulk food orders for the chain. The only concern was to know what is in the supply rooms now! Each week with paper order slips, a laptop with an excel spreadsheet, the client headed out to take inventory. It easily consumed a twelve-hour day. Several problems were generated using the manual system and the most important was mistakes in ordering which often resulted in running out of product or worse, the amount of food going stale which needed to be discarded as spoilage.
The solution was a very simple inventory counting system, PassportÂ©. By implementing this solution using Barcode or RFIDs and portable handheld terminals, the client was able to assign the task of taking inventory to restaurant managers. In addition, each restaurant manager is in charge of setting minimum and maximum inventory amounts. Managers receive an incentive to keep items in stock while reducing spoilage. Three things occurred. First, the reduction in spoilage was over 85%. Over all, inventory is in line with customer demands and this reduced inventory levels for many items in the restaurants. Bulk supply cost is lower. The most important gain in the chain was that food was fresher and the customers noticed! Business grew and the chain is expanding. We do not claim to take credit for everything after all you have to start with good food in the first place.
To summarize, anytime you use a paper-based system you open yourself up to “human error” and “human decisions”. A Barcode or RFID inventory system is a smart technology. These Barcode or RFID based software systems allow customers to see available on hand inventory, compare minimum and maximum levels of inventory, control inventory levels and establish reorder points. They reduce loss and limit human error. Small or large, any business can benefit by using this technology over paper.
Inventory, Assets and Evidence Definitions:
Available refers to the status of inventory as it relates to its ability to be sold or consumed. Availability calculations are used to determine this status. Availability calculations vary from system to system but basically subtract any current allocations of holds on inventory from the current on-hand balance. An example of an availability calculation would be: [Quantity Available] = [Quantity On Hand] -[ Quantity On Hold] - [Quantity Allocated To Sales Orders] - [Quantity Allocated to Production Orders].Reasons for revaluation.
Bill of material lists materials (components or ingredients) required to produce an item. Multilevel BOMs also show subassemblies and their components. Other information such as scrap factors may also be included in the BOM for use in materials planning and costing.
Blanket order a type of Assets or Inventory purchase order that commits to purchase a specific quantity over a specific period of time, but does not necessarily provide specific dates for shipments. Blanket orders are placed for the quantity of an item (or group of items) that you expect to purchase over extended period of time (3 months, 6 months, a year, etc). A blanket purchase order may provide estimated required dates for specific quantities, but actual releases to ship against the blanked order are triggered by separate requests from the customer to the supplier; the specific quantities and dates of these separate requests (releases) may or may not be similar to the estimated dates and quantities. Providing a blanket order to a supplier may reduce lead times and increase on-time shipments from the supplier and may provide a greater discount on purchases.
Blind counts describes method used in cycle counting and physical inventories where you provide your counters with item number and location but no quantity information. See article on Cycle Counting, also check out.
Bonded Warehouse a facility or a dedicated portion of a facility where imported goods are stored prior to customs duties and taxes being paid. These facilities are often used to delay the payment of import fees until the products are actually sold/shipped (when they physically leave the bonded facility). This can be particularly useful when products are received well in advance of sale or when a portion of the product received may eventually be returned or scrapped (thus preventing paying import fees on items not sold). Bonded warehouses are licensed by the government. I believe the same concept can also be applied to specially taxed domestic products such as alcohol and tobacco products. See also FTZ (Foreign Trade Zone)
Browser-based application software designed to run within a web browser (i.e. Internet Explorer). This allows a user to access the application from any location that has internet access and a web browser (no additional software is needed on the computer accessing the application). Read my article on Software Selection for additional information.
Bulk the classic use of the term bulk (bulk materials, bulk inventory, bulk storage) in inventory management and distribution refers to raw materials such as coal, iron ore, grains, etc. that are stored or transported in large quantities. This would include rail cars, tanker trucks, or silos full of a single material. However, this term can also have a variety of other definitions based upon the specific industry or facility. For example, a small-parts picking operation may refer to a case storage area as "bulk", while a case-picking operation may refer to the full-pallet area as the "bulk area".
US GAAP on Upward Revaluation of Fixed Assets
The FASB does not allow upward revaluation of fixed assets to reflect fair market values although it is compulsory to account for impairment in fixed assets (downward revaluation of fixed assets) as per FASB Statement No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets.
In other countries, upward revaluation is mainly done for fixed assets such as land, and real estate whose value keeps rising from year to year. It seems the concept of upward revaluation of fixed assets such as real estate has not been widely welcomed by a majority of companies in USA on account of fear of paying higher property taxes. Further, the provision against upward restatement ensures conservative valuation.
The United Kingdom, Australia, and India allow upward revaluation in the values of fixed assets to bring them in consonance with fair market values. However, the law requires disclosure of the basis of revaluation, amount of revaluation made to each class of assets (for a specified period after the financial year in which revaluation is made), and other information. Similarly, law prohibits payment of dividend out of any reserve created as a result of upward revaluation of fixed assets.
A typical asset tag
Many organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets. A popular approach to tracking fixed assets utilizes serial numbered Asset Tags, often with barcodes for easy and accurate reading. Periodically, the owner of the assets can take inventory with a mobile Barcode or RFID reader and then produce a report.
Off-the-shelf software packages for fixed asset management are marketed to businesses small and large. Some Enterprise Resource Planning systems are available with fixed assets modules.
Some tracking methods automate the process, such as by using fixed scanners to read Barcode or RFIDs by attaching a radio-frequency identification(RFID) tag to an asset.
Fixed Asset Tracking Software
Tracking assets is an important concern of every company, regardless of size. Fixed assets are defined as any 'permanent' object that a business uses internally including but not limited to computers, tools, software, or office equipment. While employees may utilize a specific tool or tools, the asset ultimately belongs to the company and must be returned. And therefore without an accurate method of keeping track of these assets it would be very easy for a company to lose control of them.
With advancements in technology, asset tracking software is now available that will help any size business track valuable assets such as equipment and supplies. According to a study issued in December, 2005 by the ARC Advisory Group, the worldwide market for
Enterprise Asset Management (EAM) was then at an estimated $2.2 billion and was expected to grow at about 5.0 percent per year reaching $2.8 billion in 2010.
Asset tracking software allows companies to track what assets it owns, where each is located, who has it, when it was checked out, when it is due for return, when it is scheduled for maintenance, and the cost and depreciation of each asset.
The reporting option that is built into most asset tracking solutions provides pre-built reports, including assets by category and department, check-in/check-out, net book value of assets, assets past due, audit history, and transactions.
All of this information is captured in one program and can be used on PCs as well as mobile devices. As a result, companies reduce expenses through loss prevention and improved equipment maintenance. They reduce new and unnecessary equipment purchases, and they can more accurately calculate taxes based on depreciation schedules.
ASAP Systems provides expertise in the management of assets. Our task is to provide leadership in Asset Management principles for program administration, to create Asset Management policies for system conservation. PassportÂ© Asset combines enterprise asset and service management disciplines into one program that helps to unite departments and processes. PassportÂ© Assets is a product that provides you with real-time insight into the assets across your organization, including what assets are deployed, how they are configured and where they are located.
ASAP Systems serves as a supporter for Asset Management, system preservation, and construction and maintenance activities. Also we offer technology development, outreach, and partnering initiatives. The vision of ASAP Systems is that all States efficiently use Asset Management to manage and assign resources to improve our Nation's performance. Managing the entire asset lifecycle, Passport Asset can help organizations eliminate needless software and hardware costs, manage contracts, and line up service resources. Your capital assets need to be actively managed, whether they are production assets, industrial assets, real estate assets or information technology assets.
Assets can be assigned with asset software to general locations such as departments or accounts, or be checked-out in detail to numerous employees to be used on several work orders. With PassportÂ© Assets asset software, you can track the assets you have. IT professionals must be able to precisely track computers, know who is using them and what is installed on them.
With our asset software, you can use existing Barcode or RFIDs or create your own to check in and checkout tools. ASAP Systems is a comprehensive management company that offers two major areas of functionality: service support and Asset Management with asset software. You can track contracts, vendor data, service level agreements, asset tags and other information, printers and cell phones with our asset software.
Passport Assets asset software is Asset Tracking Software designed to control and manage fixed assets. Passport Assets asset software manages what assets you have, where they are, who uses them, and all costs related to the items. Computing assets with asset software that cannot be successfully inventoried and monitored at all times can weaken even the best security strategies.
An efficient enterprise asset software solution for monitoring and managing your company's assets may be the most important tool for preventing operational surprises and uncovering hidden profits. With the Passport Assets asset software solution, your enterprise gains fast access to current, accurate data and can provide more effective service for your business.
Passport Assets asset management software is a complete asset tracking solution with widespread barcoding and numerous technologies and functions. We will also provide a framework to help customers understand and improve the condition of their software asset software management. PassportÂ© Assets asset software takes only a few minutes to download and install. Passport Assets asset software enables manufacturers, distributors, and services organizations to save by optimizing maintenance resources,, increasing inventory, and growing their ability to collect on claims.
Asset Management Software
With Passport Assets asset management software, your company can track its assets. Fast access to current and accurate data through the PassportÂ© Asset Management software solutions console helps your company improve service and efficiently manage its ever-changing assets.
Passport Assets Asset Management Software gives your business access to data entry, administration and asset tracking tools. Data is stored in a single Asset Management software library to keep information consistent for all business departments and users. You can search Asset Management software data to speedily find specific information, contracts and leases, and physical assets, and easily track lease expirations or other service elements.
Become more effective in Asset Management software activities, such as ensuring software license compliance while minimizing licensing costs. PassportÂ© Assets is a platform digital Asset Management software and digital document management. Create an accurate foundation of information for the operational management of their IT Assets. Passport Assets asset management software helps organizations by providing a secure depot that facilitates the creation, management, organization, and distribution of assets.
Passport Assets Asset Management Software allows you to see the relationship between your company's contracts, service agreements and physical assets. The asset templates included in the Passport Assets Asset Management software allows you to speedily capture data or build custom forms to define specific data to be managed. Use it as your Asset Management software solution and track a wide breadth of assets.
Passport Assets Asset Management software system also includes a console accessible from anywhere on your corporate network for Asset Management. You can use Passport Assets Asset Management Software to relate assets with computers, users, service agreements or any other tracked asset. Whether you seek a tracking tool to simply identify the location of assets or a front-end for fixed asset accounting, we can help.
Asset Tracking Software
Passport Assets: Our Asset Tracking Software provides the capability of managing assets easily while including all of the necessary functionality of a vigorous asset tracking package. Assets may be transferred, split, disposed and depreciated. Passport Assets Asset Tracking Software will also maintain sub-assets as well as track asset maintenance schedules. We will blend our expertise and products into a unique, client focused solution. Our singular focus is Asset Management with Asset Tracking Software.
Passport Assets Asset Tracking Software is an asset tracking system for corporate, government and education environments. Traditional Asset Tracking Software systems can lose track of assets but with Passport Assets Asset Tracking Software, this simply will not happen. Detailed reports are provided for every computer with an Internet connection, which adds visibility to the computers that go unseen by traditional Asset Management systems.
Passport Assets Asset Tracking Software provides an efficient, cost-effective way to track fixed asset inventories. Passport Assets Asset Tracking System can also track the status of capital assets. Asset Tracking Software consists of tracking items that a company uses internally, like hardware or tools.
At ASAP Systems, we move toward asset control from the client's perspective. Passport Asset Tracking Software is an Inventory Software tool designed to audit software and hardware components that are installed on the computers over the network. We have inventoried many assets, and served users in the completion of Asset Tracking Software.
This Asset Management tool will collect your network inventory information and provide you with detailed comprehensive reports and allow you to export assets details to external storages. Passport Asset Tracking System is an asset tracking and inventory solution that works behind the scenes to deliver up to date online reports.
RFID Example Study:
Warehouse or IT Departments are tasked to manage tens of thousands of Assets and Tools. Some of those departments found a barcode approach is not efficient enough and sometime labor intensive. By moving to an RFID asset or tool tracking system, those department saw an Return on investment in few short months with ongoing cost savings and rapid employee acceptance. Problem:
The Service Assets Department of some companies manages tens of thousands of assets and tools used in the maintenance and repair of heavy industrial equipment out of multiple facilities across the globe. Tracking the movement of those Assets and tools from sockets and drill bits to any expensive particle monitors has become increasingly necessary to limit losses and maintain productivity.
A barcode-based system deployed to track Assets and tools provided some benefits but ultimately proved inconvenient. Like most other companies with a large Assets or tool inventory, a staff member exists to manage each of its tool rooms and track the movements of tools and Assets. The supplier’s employees utilized a paper-and-pen-based or a Microsoft Excel based system in which an employee manually wrote down his or her name and the serial numbers of the assets or tools being removed from the tool room inventory, after which the employee entered that data into the company’s back-end system, to be tracked on an Excel spreadsheet.
The labor-intensive system cost those companies, on average, $10,000 a month per site in lost man-hours due to the time required to locate misplaced or stolen Assets or tools from inventory. In some cases, employees spent hours on the job searching for Assets or tools, or simply didn’t get their work completed because the necessary tools or Assets were missing from their inventory.
Beyond the escalating costs of unproductive man-hours (as well as the costs to replace lost Assets and tools from inventory), the barcode-based system will not meet the day-to-day requirements of the warehouse or IT department users. The need for a “hands-free inventory tracking system” that could increase productivity while enabling efficient tracking of the assets and tools within their inventory.
The Solution: RFID Asset and Tool Tracking Inventory System
Such RFID-based tracking solution will provide the Assets Departments with an automatic view into which worker was using a particular Asset or tool from the inventory, and for how long. In fact, once a system is deployed, physical management using Microsoft Excel Spread sheet, manual entries or a barcode system of the assets or tool in the inventory room was no longer necessary.
Those companies now know exactly who is using the Assets or tools out of the inventory and can track assets or tool movement between facilities. This visibility enables managers to see a return on their investment in no time. Additional savings can be recognized through improved inventory control and the ability to share high-value Assets and tools between facilities, rather than purchase one asset or tool for each. Employees carry ID cards, each of which contains a passive HF RFID tag encoded with a unique identification number. As an employee passes the tool inventory room portal, RFID reader antennas capture the individual’s ID number, while UHF readers and antennas capture the ID numbers encoded to tools via UHF tags. When a technician leaves the Assets or tool inventory room with Assets or tools, the UHF tags are interrogated along with the badge’s HF tag, associating that employee with those tools in the system.
Barcode and RFID Information
Do you have a warehouse, or need one? Consider the benefits of having an inventory solution where, with the use of Barcode or RFID scanners, your inventory tracking approaches 100% accuracy. Experience shows that the time and money saved by having an accurate inventory system will dramatically affect your bottom line.
Our Inventory Software and Assets Mobile makes it difficult to misplace or lose assets. Run our Barcode or RFID software from most handheld Barcode or RFID readers with the same ease as you would from a client computer in the office. Scanning in newly received inventory is fast and simple. Picking items for an order is as easy as scanning in the Barcode or RFID and pressing a button the picked inventory is updated immediately on our Inventory Software and Assets server.
Moving or yielding inventory from one location to another is even easier. To move, just scan in the old location tag, then the new one, and you're done. To yield (a partial move), do the same thing as a move, but you will be asked for a quantity. Cycle counting and quantity changes are important to keep track of, and our Inventory Software and Assets Mobile allows you to update the server in real-time as you do them. Our Inventory Software and Assets Inventory simplifies all the required processes that you need to run an efficient and effective warehouse or store front.
The greatest benefit is reflected in the name of our Inventory Software and Assets Mobile meaning you aren't tied down to a computer workstation, nor do you have to write down or remember everything you do in the warehouse anymore. Completely wireless and easy to use, our Inventory Software and Assets Mobile will give you the freedom, efficiency, and accuracy that you desire in your warehouse inventory control system.
Press Release April 02, 2013
ASAP Systems Helps Medical Technology Company Meet FDA and ISO Guidelines for Quality Control with Its Inventory Management Software
San Jose, CA (PRWEB) April 02, 2013 -- ASAP Systems, an automated barcode and RFID Inventory and asset tracking company, helps medical technology company meet FDA and ISO guidelines for quality control with its Inventory management
ASAP Systems, a market leader in inventory management and asset tracking software, just released its latest case study, showing how ASAP Passport software has helped Quasar Bio–Tech, Inc., a U.S.–based medical technology company, to meet the strict quality control standards for their product that are required by the FDA and ISO.
Quasar Bio–Tech develops and manufactures a state–of–the–art, handheld light therapy device for acne and anti-aging. Because the device is considered a medical tool, the company has to follow strict guidelines to ensure the quality of their product to customers. If any issue arises, for example, Quasar is required to reference which vendor delivered the inventory in a specific batch, what date it was delivered on, which customers bought products from a particular batch and more. Gathering all this data without an automated and modern tracking system in place consumed too much time.
“We wanted QuickBooks to be our main source of order processing that feeds to an inventory system, and we wanted to be able to control the information that went back and forth between the two systems,” said Quasar Shipping and Receiving Manager Donald Collison, “but 95 percent of the software out there doesn’t work with QuickBooks.”
To solve their tracking needs, the company turned to ASAP Passport with Advanced Inventory, Kitting and QuickBooks Integration. Quasar Bio–Tech uses the software to track their inventory by batch (lot) and/or product serial numbers. This gives management complete visibility over the details of specific inventory items, as well as a larger overview of different batches the company receives. In addition, as inventory items are “consumed” through the assembly process, their details are tracked and eventually associated with the final product.
ASAP Systems’ Inventory Management Software also gives Quasar Bio–Tech the ability to customize data field names, specify an unlimited number of separate and individual inventory locations (warehouses or stock rooms), assign pictures and other documents to the inventory items, easily create pick lists based on LIFO / FIFO information, make stock adjustments and more.
Press Release May 16, 2013
ASAP Systems Announces the Release of its Smartphone Mobile App for Barcode Based Inventory Management and Asset Tracking System, Passport
San Jose, CA (PRWEB) May 16, 2013 -- ASAP Systems, a market leader in barcode based inventory management and asset tracking systems, allows users to manage standard and advanced inventory including the tracking of expiration dates, serial numbers and batch and lot numbers with the Passport mobile app using smartphones and tablets.
ASAP Systems introduces a new easy-to-use inventory management mobile application for smartphone devices for their Passport inventory system. In addition to the previously released Passport mobile app for asset tracking, ASAP Systems now gives the ability to manage stock inventory quickly and easily on iPhones and Android smartphones, iPads and other tablet PCs. Utilization of the Passport mobile app on smartphones brings stock inventory management quick and easy barcode scanning without extra complexities which only slow down the mobile workforce.
With the new enhanced Passport stock inventory mobile app, customers can now successfully scan barcode information directly into an inventory management database. Smartphones can now be used for stock inventory purposes to successfully receive, issue, move and dispose of inventory. The powerful and redefined Passport mobile application also gives the ability to view current inventory, locations, quantities, users and more. The Passport inventory mobile app can also be used for serialized, standard, batch, and serialized with batch inventories to fulfill all needs.
The upgraded Passport mobile application also features a more robust looking interface, providing an easy to use format for users when performing inventory related transactions. New attributes have been implemented with the usage of smartphones such as the ability to capture photos in the field and upload to the database. Analytics and visual charts are accessible through the mobile app showing the status of fluctuating inventory data.
“We wanted to provide our customers with a more powerful and enhanced Passport mobile application that will maximize the full functionalities of asset tracking and inventory management. Revamping the Passport mobile application gives companies complete utilization of the features on their smartphones.” Said Elie Touma, CEO of ASAP Systems.
With the previously released Passport asset management mobile app, customers now have the option of whether to use the Passport mobile app for tracking assets, managing inventory, or use both in ASAP Systems Passport Suite. With the Passport Suite, the Passport mobile app can be used to utilize tracking of both assets and inventory.
The modernized ASAP Passport Mobile App, an extension of ASAP Systems’ Passport inventory and asset system software, is a complete, configurable, barcode based stock inventory and asset tracking system for companies big and small in all industries. The data field naming and transaction based preferences configured in the Passport desktop software automatically carry over to the mobile software. Whether inside a facility or spread across town or the country, the Passport Mobile App allows everyone to be connected and providing the data critical for day to day business operations.
About ASAP Systems
ASAP Systems is a market leader in inventory management and asset tracking systems that uses barcode and RFID technology with Motorola barcode scanners, smartphones and tablets. We help improve profitability by eliminating manual data entry, paper files and forms and by automating record keeping. With our inventory and asset software, businesses know 24/7 how and where assets and inventory are received, stored, used and disposed of in the warehouse, in the field and in the office.