Stock is one of the biggest costs for some associations, which is the reason most organizations are aware of stock levels. Before PCs, monitoring stock included single-stage estimations done by hand per thing, per area. This made it troublesome or almost impossible to accomplish complete visibility across huge supply chains.
That is why an inventory-intensive organization must invest in an automated inventory management system. In this blog, you will know why you should invest in Asset Infinity’s IT inventory management system. So, let us begin! But first, let us cover the basics!
What Is an Inventory Management System?
An inventory management system is a cycle by which you track your merchandise all through your whole store network, from buying to creation to end deals. An automated system oversees how you approach stock administration for your business.
Every association has a different way of handling inventory.
However, this automated system provides a complete view of inventory, where it is located, how frequently it is utilized, and so on. It gives complete visibility of your inventory.
Moreover, you can eat silly handled inventory management issues with this software.
This software can show you the stock level of different areas from a single dashboard. A viable & robust inventory management software gives assistance in stock estimate.
An inventory management system provides accuracy and minimizes human error.
According to Global Market Insights, “Inventory Management Software Market size crossed USD 3 billion in 2019 and is estimated to grow at a CAGR of over 5% from 2020 to 2026.”
Recommend To Read: Why Is Mobile Inventory Management Solution Needed for the Utility Industry?
Why Should You Invest in Asset Infinity’s IT Inventory Management System?
Below we have discussed the benefits of Asset Infinity’s IT inventory management system:
1. Get Alerts and Notifications
Inventory management is a big issue when you have inventory located in multiple places especially when you manage it manually. However, with Asset Infinity IT inventory management software you can keep track of every item.
Furthermore, you can easily avoid out-of-stock issues as it sends alerts and notifications whenever the level of inventory quantity is low. Similarly, you can keep track of every IT inventory in your organization. It will alert IT managers about inventory levels and provide real-time inventory numbers.
2. Define Re-Order Levels
Asset Infinity’s IT inventory management system enables an organization to set the inventory level for each item individually.
Whenever inventory is below that defined level, it will notify the responsible person and he will initiate the inventory filing process. With this software, you can eliminate stock issues and no potential business loss will occur.
3. Maintain a Complete List of Inventories
An IT has lots of inventories such as computers, laptops, printers, pen drives, mouse(s), projectors, and so on. When an organization has multiple branches then you can imagine how much inventory each branch must have.
With Asset Infinity’s IT inventory management system, you can easily track & maintain them. Get a complete view of inventory along with that you can also know details such as product name, description, stock in quantity, inventory assigned to whom, and so on.
Missed To Read: Why Manual Inventory Tracking Must Be Replaced with Automated Inventory Tracking?
4. View All Transactions
As per your requirement, you can check transactions date-wise, location-wise, and inventory-wise. Moreover, you can easily see all transactions in a single place.
This feature is helpful to businesses in checking all transactions. Managers can filter data & download it in a customized way as per the need.
5. Create Requests for Purchase
Asset Infinity’s IT inventory management system centralizes information that helps the organization in several ways. Whenever any employee has a specific requirement for inventory then he can create a purchase request and get approval from the manager and then the finance department.
The finance department checks the requirement and quantity approved as per budget. Moreover, if the required product is available then the finance department checks their stock to see if they have it or not for allotment.
6. Upload Files & Images for Reference
Image and file uploading are helpful to know vendor details such as what kind of inventory the vendor is providing. If he is not providing good quality, you can upload files where the vendor can see itself with images.
Files are also helpful in maintaining prices and you can compare vendor prices and how fast they are delivering inventory.
7. Check Stock Availability
Several organizations do not know exact stock availability and as a result, their business operations suffer because sometimes inventory is not available. However, with Asset Infinity's IT inventory management system you can know exact inventory availability in real-time.
If the inventory is too much in some other location, then you can add move or draw inventory from one location to another. as this system provides a complete view of inventory and optimizes inventory visibility as well.
These are only a few of the major benefits of Asset Infinity’s IT inventory management solution. Asset Infinity provides customized and cost-effective solutions to all industries.
There is no doubt that inventory intensive organization requires an inventory management solution for better inventory management. With this solution, you can understand inventory trends that can help you in growing the business.
You can schedule a demo within just a few clicks.
Also Read: What Are the Benefits of Tracking Consumables with an Inventory Management System?
Frequently Asked Questions (FAQs)
Q.1 - Does This Software Come with Cloud Technology?
Yes, this software comes with cloud technology. It enables organizations to access data from anywhere across the world and make changes in the work order as per the requirement moreover cloud technology also provides data security. These days when competition is so high cloud technology gives an extra edge to your business.
Q.2 - What Is Inventory?
Inventory is different in every business and inventory is crucial for generating revenue such as retail industry whereas in manufacturing inventory is consumed in the form of MRO (Maintenance, repair, operation). It is used by the organization itself.
Q.3 - Can Asset Infinity’s IT Asset Management Software Be Used as a Mobile Application?
Yes, Asset Infinity's asset management software is available in mobile applications enabling you to access data from anywhere, all you need is a good Internet connection.