Inventory - a term that most people are already familiar with. But what exactly is behind this operational practice? An inventory is the systematic recording and compilation of all items owned by a company. This comprehensive overview not only serves to improve organization, but also fulfills the requirements of double-entry bookkeeping, which is essential for a proper inventory.
A comprehensive listing of all assets such as machinery, inventories and bank balances as well as liabilities forms the inventory of a company. The equity of the company results from the comparison of these items. This inventory list is created as part of the stocktaking process.
Inventory, on the other hand, refers to the process of taking stock of all the assets and liabilities of a company. As a rule, the inventory takes place at the end of a fiscal year.
The inventory of a company can assume a considerable size depending on its size. Dealers have well-stocked warehouses with countless items. In the production halls of industrial companies, there are numerous machines and systems. And that's not all - internally, other equipment such as laptops and the like are used. In view of this diversity, various solutions and principles exist for inventory management.
Regardless of company size, effective inventory management methods and tools are essential. From manual inventory lists to modern digital systems, companies have a variety of approaches at their disposal. Optimal inventory management enables accurate tracking of assets, facilitates inventory controls and helps optimize costs.
An effective solution for inventory management is the use of inventory software, which simplifies the inventory process. With the help of this software, additional information such as locations, users, warranties and inventory groups can be recorded in a largely automated manner. Especially for online retailers, this often represents the first step towards a clear inventory management.
Regardless of the method chosen, it is important to keep certain requirements in mind.
An inventory list is a detailed listing, often in tabular form, of all assets and liabilities as of the reporting date. Unlike a simple inventory list, the inventory contains detailed information on the individual values of the items listed.
Even if you are not legally required to take inventory, there are good reasons to maintain a structured inventory management system.
With good inventory management, questions like "Do we still have...?" or "Where is actually...?" are a thing of the past. You save time and effort when searching for items, because you always have an overview.
A transparent presentation of the company's tangible assets makes management much easier. Employee changes, new hires or restructurings are no longer a challenge because you can access all relevant information quickly and easily.
Through continuous inventory management, you maintain an overview of the asset situation at all times. You know exactly which items are owned by your company and can make an informed valuation of the assets.
In the event of damage to equipment such as laptops or plant, inventory management facilitates the handling of insurance claims. It also enables efficient planning and execution of new acquisitions, as all relevant information is quickly at hand.
Some inventory management software not only offers support for managing inventory, but also has extensive functions for inventory management, supplier management or accounting. Thus, you can not only bring order to company-owned items, but also organize the warehouse efficiently.
Inventory management is an essential part of a well-organized company. Efficient and accurate inventory recording makes it possible to keep track of all assets and liabilities, thus creating a solid foundation for successful business operations.
ApptiveGrid Inventory Management provides companies with a modern solution to streamline the process of inventory capture. With its user-friendly interface and customizable features, it greatly simplifies the process of capturing, managing and controlling inventory.
One of the greatest strengths of ApptiveGrid Inventory Management is its flexibility. You can customize the database according to your specific requirements and record the necessary information about each inventory item. Whether it's the type of item, the quantity, the value, or other details such as location or user:inside - everything can be clearly documented.
ApptiveGrid Inventory Management also offers the advantage of centralized data management. As an administrator, you have a complete overview of your company's entire inventory. This allows you to quickly react to changes, add new items or remove obsolete ones.
On top of that, you'll have the possibility to enter additional information such as warranties, inventory groups and other user-defined fields. This lets you further structure the inventory and define specific categories and classifications for better organization.
Via the ApptiveGrid, you assign a unique allocation to your articles with the help of commercially available QR or EAN codes and can identify and catalog your inventory directly at the object. This way, your employees have all the information at their fingertips right on the spot. To use the inventory management, follow these steps:
Using the ApptiveGrid app, you can give your employees direct mobile access to inventory management and manage it via smartphone. The prerequisite is that your employees have an account with ApptiveGrid.
Managing inventory efficiently can often be perceived as tedious and time-consuming, especially when still relying on traditional methods such as paper or Excel spreadsheets. In such cases, implementing a digital solution like ApptiveGrid can help you drastically reduce the effort while saving time and money. With ApptiveGrid, inventory management becomes a breeze. You can easily assign inventory numbers and assign items to the appropriate departments and people. You can also store important information such as maintenance deadlines and document the status of items using photo documentation.
Among numerous other operational challenges, the management of one's own inventory will often be neglected. But at the latest when a new employee is hired, employees leave the company or a restructuring is pending, it becomes clear how important a well thought-out inventory management is.
In such situations, the long search for equipment or a suitable storage location often begins. Time and energy are lost that could be better invested in the actual core business. To prevent these problems, it is advisable to rely on good inventory management.
Fortunately, there are numerous software solutions available today to help companies manage their inventory efficiently. One such solution is ApptiveGrid Inventory Management. With this tool you'll keep track of your company's items and save valuable time at the same time.