Inventory Audits: Teamwork Makes the Dream-work
Jackie Luo is Vice President of the eQuip! Asset Management solution at Assetworks LLC. She is a subject matter expert on asset management business processes.
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Let’s face it – completing an annual inventory audit can be dreadful for organizations of almost any size. Typically these are completed by going around with a legal length sheet of paper, checking items off, and then going back to enter the changes into your Excel or Access database. If you’re lucky, this process may be combined with a scanner attached to a laptop, which is better but still less than ideal.
I’m sure for many of you out there there’s been days where you’ve felt like slamming your head against your desk and you’ve spent more nights than you’d care to admit tossing and turning over the thought of how many assets you still need to audit.
Well the good news, it doesn’t have to be that way. In fact, by simply employing a solution that showcases a mobile app you can vastly reduce inventory audit time. Actually, in some case studies we’ve seen a reduction in 65% – 80% of time it takes to complete an inventory audit by using our mobile app.
Yes, 65% – 80% is a huge reduction in time but I truly believe that this percentage can be bigger. The reason? The eQuip! asset management software doesn’t have any cap on the number of users that can log into the system. By using permissions, you can simply give team members the ability to ONLY audit their assets.
This means when that next inventory audit comes around, you can have an automatic email sent out to all custodians asking them to take five minutes to scan their assets to audit them. Meanwhile, you and a handful of teammates can go around to the storage areas to audit the items with no custodian.
When it comes time to wrap things up you can run a quick “Assets Needing Audit” report to see what is missing. Next, using helpful information like last location, custodian, or user who updated information, you can quickly reconcile your inventory.
Tired of losing sleep over inventory audits? Request a demo here.