Inventory Management Resources

Want better inventory control? QR code inventory management software simplifies tracking and organization!

Looking to improve inventory management? These 6 inventory tracking tips will help you to streamline your operations!

Learn key strategies and tools for maintaining accurate inventory records and optimizing supply chain management.

Learn everything important about doing end-of-year inventory. Why do it, how, and which tools to use? We bring the answers!

This article explores the biggest challenges of construction inventory management and will provide you with strategies to help you tackle them.

Discover the differences between asset turnover and inventory turnover and learn how to improve the productivity of your construction business.

Overcome 7 common inventory control challenges and improve your business processes with these practical solutions.

Inventory control is crucial for the success of any business that deals with physical products. Follow these 4 inventory control best practices to ensure efficient operations and profitability.

Have you ever found yourself unable to begin a project as planned because of shortages in your inventory? If so, you are not alone. The dynamic environment of a construction company requires good organization and even better inventory management. It's no secret that keeping track of all the materials and supplies at your disposal can be a daunting task, especially when your work involves...

An efficient inventory control system ensures construction companies have the right tools, equipment, and other supplies needed for smooth project completion. More specifically, such a system should facilitate managing construction inventory, which means maintaining appropriate inventory levels, avoiding stockouts and overstocking, minimizing inventory loss and theft, and reducing costs. In...

Good inventory management is essential for any construction site. This article will teach you how to manage construction inventory.

As business processes become more complex by the day, so does proper equipment inventory management. However, if you lack the means to track your equipment in real-time (or close to it), that can be a really daunting task. On the other hand, neglecting inventory management will result in extra costs and operating inefficiencies, and perhaps even lead to injuries. To prevent that, here are the...

The construction business is dependent on quality tools that enable your team members to do their best work. Keeping your tool collection operable, safe, and always available is paramount, and starts with proper care and adequate storage conditions. Nevertheless, improper storage practices are not a rare sight at worksites of all kinds, so it’s clear that managers and company owners need to keep...

Whether big or small, corded or cordless, power tools need to be stored correctly to avoid injuries and keep tool maintenance and turnover costs low. Knowing what the best practices for storing power tools are can be a real life and cost saver. So, without further ado, here they are. Conduct Pre-storage Maintenance It makes a lot of sense to conduct maintenance on all tools before storing them,...

Quality medical care and diagnosis depend on having access to the right equipment.  So, to provide complete care, hospitals need to have a standard set of medical equipment besides regular personal protective equipment. This enables them to enhance the productivity of their staff but also ensure the safety of their patients.  We’ll cover key pieces of equipment every hospital needs for...

A functioning office environment depends on its inventory. If crucial equipment and supplies are missing, the employees will have difficulty completing their daily tasks and operations.  How can a business keep this from happening? Start by making an office supply inventory list.  Many office managers underestimate the importance of office supply inventory lists and end up missing...

We’re explaining the stages of rental inventory management and offer tips on bringing your rental equipment management to the next level.

While an inventory of office equipment requires some time to establish, it is well worth the effort. This post will teach you what to track and how.

Assets and inventory seem like interchangeable terms, but these are two distinct terms for what a company or organization owns.  Understanding and leveraging the difference between asset and inventory is important to achieving an efficient, forward-looking employee team and management structure.  Both asset management and inventory management require a structured, tailored approach for...

If your business depends on having the right tools available when you need them, having a tool room in place is likely not a new idea to you. A tool room allows you to store, control, and maintain your company’s valuable tools and equipment in a central location. When your next big job comes, you don’t have to worry about finding and repairing tools before you get started if you have a...

Imagine running a company with hundreds of inventory and equipment across various locations. It's impossible to keep track of all information in real-time without a cloud-based inventory management solution. Poor inventory management leads to a huge waste of time. The average cost of downtime ranges anywhere between $140,000 to $5 million every hour. That is enough to cripple even the most...

Loss and Theft are Common Tools and equipment represent a major investment for companies. When equipment is lost or goes missing, the return on this investment is drastically diminished, and replacement costs eat into money that could be used for better purposes. More effectively managing your company’s tools and equipment by using tracking software and QR code inventory tags can help prevent...

An equipment inventory list is a mechanism that gives you more control over your business’ assets. It includes all the information related to the equipment, such as purchase date, dimensions, serial numbers, and much more. A completed and finished equipment inventory list is one of the company’s best assets. It serves as a buffer between department requirements and order fulfillment. Why It’s...

Inventory management has come a long way since the time of physical counting.  Today, inventory management systems can run on both SaaS and on-premises systems, integrate with accounting and ERP systems, which makes them suitable for large organizations. The reason Inventory management was invented was that physical inventories took too much time.  Every time you need to know...

Businesses that understand their inventory through proper forecasting will realize immense business growth, profitability, and ultimately, success in the industry.  Unfortunately, many organizations still do not understand the importance of inventory planning in today’s hypercompetitive markets. Case in point, businesses across the world lose a staggering $1.1 trillion to inventory...

Earlier businesses were heavily reliant on manual processes that were time-consuming and highly prone to errors. Once economies started embracing globalization and more businesses started entering different industries, the competition started heating up. When the competition came knocking at their door, agile organizations were quick to realize that they can no longer rely on inefficient...

What do Walmart, the small local grocery store down the block, and all decent retail stores out there have in common? All of them rely on an inventory management system to keep track of their whole product list. Why is it so important to keep track of your goods? Without a way to track inventory status, businesses will have no way to know when it’s time to restock shelves, or correct inventory...

There's not a single time in history when inventory management wasn't crucial to business operations. Even ancient cave dwellers needed a way to manage wood stockpiles—their primary source of energy then! But the need to accurately audit products or raw materials, manage customer expectations, avoid overstocking, and keep supply chain overheads in check has substantially influenced...

Small businesses grow, and that’s a bigger challenge for them in comparison with already established big firms. Big companies can handle growth with already in-place processes and systems that can handle the strain. Small companies, however, not only feel the challenge of growing profits and revenue growth, they get stuck with the problem of how to manage these changes in future. The answer is,...