The Difference Between Assets and Inventory (And their Management)
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...
The Difference Between Assets and Inventory (And their Management)
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...
A Guide to Fixed Asset Tracking
When companies begin to organize assets for greater efficiency and control, the first items that come to mind are naturally movable assets, such as hand tools, tablets, and inventory in a supply chain. These items might be checked out by employees, moved between rooms in the same building, or distributed to far-flung worksites. However, attention must also be directed towards fixed assets....
Asset Management Best Practices
Knowledge of asset management best practices and their efficient application can result in a smoothly-running organization that will become more productive, have more involved employees, stay compliant, and serve its customers better. In the end, all these factors mean one thing: your company will save some money. Anyone interested in applying asset management will benefit from these best...
Asset Tracking Methods to Know
A company’s assets are of little use if employees aren’t sure where they are, where they’ve been, or where they’re going. The data collected from each asset’s daily activities, even if it remains fixed, is invaluable. Asset tracking can help immensely when it comes to: efficiency in central supply managementreducing loss and petty theftattending to preventative maintenance This...
What is Asset Tracking?
Asset tracking refers to tracing items an organization owns and having real-time information about their location and status. The assets can be mobile, moving from one place to another, or fixed.
Asset Tagging Best Practices
Barcodes and QR (quick response) codes don't just serve consumer-facing products anymore. With more physical products (e.g., books) becoming fully digital, attention to physical items sometimes seems lost in a rush to modernize workplaces. Proper asset tagging harnesses digital technology's power to keep track of hands-on items such as office chairs, lab equipment, and shared items such...
Get More Organized With Inventory Management Software
Modern business environment drives businesses to focus on innovation to stay competitive. Technology is a necessary investment. Even established corporations will struggle if their tools and methods become obsolete. This is why implementing more efficient technologies can transform the way they do business. Source The modern connected world is enabling new technologies to emerge. The...
More from the blog
Types of Maintenance: Different Strategies Explained
Understanding different types of maintenance and various strategies of undertaking and tracking them enables a company to make the most of its assets. This information is especially useful for COOs of companies with inventory or physical assets, businesses with a...
Equipment Maintenance Log: Benefits and Best Practices
The equipment your organization owns and uses is only as good as its organizational system. Without it, your company wastes precious time, employees become frustrated, and clients may be underserved. Equipment maintenance logs can vary from company to company,...
Asset Tracking Spreadsheet: Benefits and Disadvantages
Using a spreadsheet to track assets has some advantages, but also many disadvantages. Making the right decisions about asset tracking for your organization will help boost efficiency and client satisfaction, so here are some aspects to keep in mind. This post...
Inventory Tracking: Tips and Insights
If properly conducted, inventory tracking can increase effectiveness, boost efficiency, and help employees become more accountable and engaged. Here is what decision makers, managers, front line workers, and stakeholders need to know about inventory tracking.
9 Tips for Better Heavy Equipment Management
Heavy equipment refers to vehicles mostly dedicated to construction and large scale engineering or municipal projects. They are major investments and can be challenging to manage. Some companies build their own fleet, while others rent from third parties as...
A Guide to Fixed Asset Tracking
When companies begin to organize assets for greater efficiency and control, the first items that come to mind are naturally movable assets, such as hand tools, tablets, and inventory in a supply chain. These items might be checked out by employees, moved between rooms...
Tool Crib Management: Guidelines and Best Practices
If you’ve invested in a secure and well-stocked inventory of tools for your company, it makes sense to have a safe and organized place to keep them. A well-managed tool crib is significant for you as well as your employees and stakeholders. The importance of good tool...
Construction Asset Management Guide
Because they often move from place to place, construction assets are especially subject to theft or misplacement. Effective construction asset management is vital for increasing profits, deterring employee and outside theft, locating missing items, and making...
Asset Management Best Practices
Knowledge of asset management best practices and their efficient application can result in a smoothly-running organization that will become more productive, have more involved employees, stay compliant, and serve its customers better. In the end, all these...
Asset Tracking Methods to Know
A company’s assets are of little use if employees aren’t sure where they are, where they’ve been, or where they’re going. The data collected from each asset’s daily activities, even if it remains fixed, is invaluable. Asset tracking can help immensely when...