6 Incidents That Could Be Avoided with Asset & Inventory Management

Have you ever lost or misplaced your car keys or wallet?

How terrifying and panicking was that?

However, when we found the item, how thankful we are. Right?

This case has happened to all of us. We all have misplaced something valuable in our life! Now imagine if assets which are valuable for any size business company goes missing! It's terrifying! Right?

So, in this blog, we are discussing 6 real incidents where something very very valuable was missing, vanished or just lost. In simple words, 6 incidents which could be avoided with inventory management or asset management. Let's get started!

6 Asset & Inventory Management Incidents

1. Hospital Medicines -

Hospital is a place where inventory management is really necessary. Because it is a matter of life and death. Hospitals are the places where the staff is less in numbers compared to the requirement.  

In the hospital, one worker has several roles and responsibilities. Sometimes even hospital pharmacies do not have the required vaccines and medicines. Hence, unfortunate things can take place. However, the above-mentioned cases can be avoided easily with the assistance of inventory tracking.

Inventory & Asset tracking practice should be made mandatory so that the hospital staff knows in advance that which medicine will be out of stock & all machines work fine.

Also Read: What Are the Functions of Inventory Management Software?

2. FedEx lost a package -

Back in 2010, FedEx was one of the only few options for the courier. No doubt it was one of the best companies for it. More than a decade ago FedEx lost a package! You would be thinking  “oh so what happened this happens all the time”!  

But let us tell you this was not just an ordinary package; this package has something very unusual. It was a radioactive container but fortunately, the package was discovered before anyone exposed to it.    

The rods used to calibrate quality control in CT scans carry a low concentration of radiation. It was said that it was lost somewhere between the transits of item from source (Fargo, North Dakota) to the destination (Knoxville, Tennessee).

3. Vanished Military weapons -

We are not talking about a few bullets or anything! We are talking about hundreds of items that were missing including guns, rocket launcher system from the Ukrainian warehouses. In almost a year the number of items missing from the warehouse of the Ukraine armed forces has increased by 200 approx.  

4. Missing military weapons on a big scale -

In 2007, around 2-lakh Guns were missing including AK47, Pistols & Rifles. They were meant for Iraq security but now they are unaccountable. U.S Command in Iraq lost track of these valuable assets.

Not just this, the investigating team also found that 250,000 pieces of body armor and helmets were also missing. One official in Bagdad said that some weapons were provided to Iraq forces few were destroyed. He also said that many of weapons may be missing.

5. 250 Kiloton of Nuclear Bomb -

It was the spring of 1968. While coming back to the command post in Norfolk, Virginia, the U.S.S. Scorpion, an atomic nuclear attack submarine, strangely sunk around 400 miles toward the southwest of the Azores islands. It is still somewhere lying in the sea

Not just that, in this unfortunate event all 99 crew members lost their lives, the Scorpion was conveying two vague atomic weapons—either they were submarine rocket missiles or torpedoes that were tipped with atomic warheads. These could add up to 250 kilotons dangerous explosive power.

6. The Lost Flor de la Mar -

The Flor de la Mar which means Flower of the Sea. It was a Portugal ship, built in the 16th century and it was 118 feet long 400 tons in weight. If we believe the sources, it was full of treasure and it had the world's largest treasure.

It sunk because of the hard storm and it was breached from many places so the ship couldn't survive. As a result, it sunk in the Indian ocean and never found and now it is buried somewhere deep in the sea never to be found again.

Also Read: What you should need to know about Inventory Management?

Conclusion -

If we talk about the hospital medicines it is very important to keep inventory up to date with inventory management software as we know every medicine has an important part to play.  

Most of the above-mentioned incidents can result in catastrophe if it goes into wrong hands. It can be avoided with the help of Inventory & Asset Management Software. We recommend you to use proper Asset & Inventory Management.

However, if you need help implementing it, Asset Infinity can assist you. So that you can always track your assets and inventory & keep the real-time information all the time. Because disasters are like these can harm your company reputation.

If any inventory management is not done as they should be it can bring a huge loss to the company. Besides what's the size of the company does not matter.