Implementing Inventory Control in 2018
Many businesses share two common goals: to achieve maximum customer satisfaction and promote growth within their company. Luckily, these two goals are often intertwined. With the start of the new year, you can get started on achieving these two goals. After all, a new year brings new opportunities! And with the help of an inventory system and asset control solution, the new goals are not too far fetched. Implementing a reliable and functional inventory control solution can help you achieve your goals for 2018.
Inventory control allows businesses to optimize their operations by allowing them to record, track, and manage their stock inventory and assets. After all, a business cannot run without its assets or inventory! To better understand the usefulness of an inventory system, it is valuable to recognize the mistakes commonly made without one.
Issues that Occur Without Inventory Control
- No Transparency of Transactions: Without a proper inventory system, it is virtually impossible to know what is exactly going on. Many things occur quickly in a normal business day: Assets depreciate, inventory levels change, equipment is checked out to employees, etc. Without the transparency of operations, it is difficult to analyze and assess what is needed. This leaves businesses unaware of issues and unable to solve them, lowering customer satisfaction levels and discouraging growth.
- No Accountability: It’s easy to point fingers when there’s no evidence as to where the fingers should be pointed to! Businesses that operate without an inventory system may use a primitive way to track equipment or inventory, such as manual pen and paper. The issue with that is it is prone to human error and negligence. Incoming shipments of stock inventory may never show up, assets can go missing, and equipment can break without anyone ever noticing for months. The worst part of it all? Without proper inventory management, there is no one to hold accountable for it!
- Limited Accessibility of Information: Access to inventory database is a crucial component for all business. After all, how can a business function without knowing what it has? Without an inventory system and asset tracking solution, availability of stock inventory and asset information is not as available. Furthermore, the inventory database may be incorrect and not up to date.
Benefits of Inventory Control
By implementing an inventory control solution, it increases the functionality of the workplace and makes processes clearer. Some benefits that businesses experience are:
- Clearer Communication: With the assistance of an inventory management solution such as BarCloud, employees can access and view information at a click of a button. Detailed information about stock inventory and records are readily available due to the Cloud SaaS nature of BarCloud, eliminating any confusion. Furthermore, users can input collaborative notes on stock inventory and assets with a timestamp and user information. This allows operations to flow more smoothly and encourages collaboration between employees.
- Preparedness: It’s hard to prepare for something that you’re not expecting. With an inventory system and asset solution, users can always be ready for what is coming their way. Equipment availability is apparent with the reservation feature. Inventory levels can remain balanced without issues of overstock or under stock. Additionally, equipment’s’ depreciation as well as maintenance is on record for any necessary replacements or repairs.
- Efficient Use of Time: If you do not have an inventory system in place, manually tracking stock inventory and assets take up a large chunk of time. Without it, employees have to allocate work hours to not only update the inventory database, but also go back to track and correct mistakes. With the implementation of an inventory system, users can quickly update inventory databases through a mobile application on a handheld device. Additionally, all transactions recorded have extensive details for full transparency. No more wasting time on guessing what is where or who did what!
Inventory Control Needs in the Real World
Lovin’ Spoonfuls, a non-profit organization, focuses on collecting healthy, perishable food and distributing them to those in need. Since 2010, Lovin’ Spoonfuls successfully distributed over 1,200,000 pounds of food and resources to organizations in Boston, Massachusetts. To successfully and efficiently carry out their mission, a configurable inventory management solution was necessary.
“We are a non-profit food rescue agency, and it’s important that we are able to track all incoming food donations and our distributions to our beneficiaries,” said Lauren Palumbo, Chief Operating Officer at Lovin’ Spoonfuls.
Lovin’ Spoonfuls picks up as well as receives food from various locations from different donors. From there, their refrigerated work vehicles carry the task of distributing the resources to organizations who feed those in need. Tracking the receiving of food, the maintenance and location of the trucks, and also the drop off food to the organizations are all imperative to the success of their nonprofit.
Our Inventory Control Solution
BarCloud, a trusted inventory and asset tracking solution, offers the solutions Lovin’ Spoonfuls needed! Not only is BarCloud’s modules configurable to Lovin’ Spoonfuls’s needs, but the reporting feature made it easy to analyze what food was going where. Additionally, the compatibility of BarCloud’s mobile application with smartphones and handheld devices made it easy for users to learn. This allows employees and new volunteers to learn quickly and get to feeding!
“It’s a very easy-to-use system. We have drivers with varying levels of smartphone comfort and they have all learned it quickly,” says Palumbo.
BarCloud made it possible for Lovin’ Spoonsfuls to accomplish their goal of allocating extra, otherwise discarded food to those who need it the most. Feel free to contact us to see how we can help your business reach your 2018 goals!
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