Imagine an office without furniture — papers stacked on windowsills, no filing cabinet to house them in, and employees working on the floor.
It’s a ridiculous image. But it goes to show that no matter how big an office is or what kind of products or services the company offers, its success relies on its in-office resources. With only so many hours in a day, those resources need to work in harmony to keep the business running smoothly.
Some companies manage their resources with spreadsheets or hard-copy asset logs. Tracking things manually takes time and requires attention better spent elsewhere, and human errors are bound to pop up somewhere along the way.
To effectively capitalize on resources, you need office inventory software. It tracks the purpose and location of every item so your office runs smoothly.
The main types of office inventory
Understanding the different types of inventory in your office is the first step toward effective management. Here’s a breakdown of the most common categories.
Work in progress (WIP) inventory
WIP items are being used in ongoing projects or tasks, like partially assembled products and documents under review. WIP inventory tracking avoids bottlenecks, ensures projects stay on schedule, and identifies potential delays early.
IT equipment
Computers, software, and servers fall under the IT umbrella. Regularly updating your IT inventory helps you plan for upgrades and replacements, preventing unexpected failures that disrupt your workflow.
Raw materials
Raw materials are the basic materials or components your team uses to create finished products or deliverables. In an office setting, these might include pens, paper, and printer ink. Without an accurate inventory system, you risk depleting or losing these essential materials, which can halt production and lead to missed deadlines.
Furniture and fixtures
Desks, filing cabinets, and other office furnishings create a comfortable and functional workspace. An inventory app tracks these items for efficient space planning and resource allocation, especially if you have multiple locations. Proper furniture management also helps you quickly reconfigure spaces to meet changing needs without unnecessary delays.
Maintenance, repair, and operations (MRO) inventory
MRO supplies maintain and repair office facilities and equipment, preventing failures and disruptions. By keeping detailed records of your MRO supplies, you can schedule regular maintenance and avoid costly emergency repairs.
4 benefits of office inventory management
The categories above show just how many items fall under office inventory management — and how important it is to track them all with a clear system. If you don’t have an existing system for your office, here’s what you stand to gain by implementing one.
1. Organization
A well-organized inventory system eliminates the chaos of misplaced or forgotten items. Everything has a designated place, making it easy to locate and access inventory when needed. And if assets belong to specific employees, you’ll have no trouble keeping tabs on who has what.
2. Cost savings
By tracking inventory levels accurately, you can reduce waste, avoid overstocking, and optimize your purchasing decisions, which leads to significant long-term cost savings.
3. Productivity
An efficient inventory management system streamlines workflows and boosts overall productivity. When employees can quickly find the supplies they need, they spend less time searching and more time working.
4. Compliance
Proper inventory management ensures compliance for businesses subject to regulations or industry standards. It also helps maintain accurate records so you don’t suddenly find yourself without important equipment.
How office inventory management impacts your business
The impact of effective inventory management extends beyond supplies. It touches every aspect of your office operations, from asset tracking to accounting integration. Here’s how an office inventory management system streamlines these critical areas.
Inventory
Even basic supplies like paper and toner keep an office running smoothly, so don’t let a simple stockout become a bottleneck. Use inventory management software to set reorder points and automatically get new stock before you run out.
Assets
From cubicles to chairs to electronic equipment, many office supplies are expensive. Tracking them closely means you always know where they are and what state they’re in, streamlining moves and maintenance so these assets keep their value.
Statistics
With accurately gathered data as your guide, office reporting doesn’t have to rely on guesswork. An inventory management system like Fishbowl provides you with detailed reports on purchase histories, items that need to be reordered, shipping updates, and more. It can even generate custom reports to give you access to additional information specific to your industry. This data reveals what works and what’s worth trying to improve.
Accounting
Because comprehensive inventory software like Fishbowl seamlessly integrates with QuickBooks, your accounting books, physical supplies, and key personnel are all on the same page — no more double data entry or constantly jumping between software platforms.
Choosing the right office inventory software
So, what should you look for in an inventory management solution? Here are some key factors to consider:
- Features: Seek features that align with your specific needs, like inventory tracking, barcode scanning, and stock alerts. You may have to prioritize some over others, so decide which are most important.
- Ease of use: The software should be intuitive and user-friendly, allowing your employees to take advantage of its functionalities without extensive training.
- Scalability: Your inventory needs will change as your business grows in sales and locations. The software should be able to accommodate those adjustments seamlessly.
- Cost: Consider your budget and choose a software solution that balances features and affordability.
- Support and training: Ensure the software provider offers reliable customer support and training resources to help you get the most out of the system.
9 tips to improve your office inventory management
Software alone won’t streamline office inventory for you. Here are some other tips for taking control:
- Conduct regular audits: Implement a schedule for inventory audits to physically count items and identify any discrepancies.
- Implement a barcode system: Barcode scanners quickly identify and digitize items in your inventory. This automates tracking and gives you valuable insights about where things are and where they’re moved.
- Set up designated storage areas: Organize your office space with specific storage areas for different types of inventory, making it easier to locate and access items.
- Label shelves and bins: Every storage container should have a label so you can find items easily.
- Establish reorder points: Set reorder points for essential items to automatically replenish them when stock levels reach a predetermined threshold.
- Train employees: To avoid mistakes, provide adequate training on proper inventory handling and recording procedures. For example, ensure employees know they must formally sign out certain kinds of equipment.
- Monitor inventory turnover: Track inventory turnover rates to identify slow-moving or obsolete items you don’t need in your office.
- Implement inventory control measures: Office supplies are still vulnerable to theft or loss. Implement security measures like restricted access and surveillance.
- Review and update procedures: Every few months, review and update your policies and procedures to adapt to changing business needs and ensure efficiency.
Elevate your office management efficiency with Fishbowl
It’s much easier to manage inventory and drive your business toward greater success when you use the right tools. One of the best inventory management solutions is Fishbowl, the all-in-one software designed to help you control stock, warehouse operations, and order management. The platform also integrates with QuickBooks to promote financial visibility.
If you’re ready to organize your office inventory and gain end-to-end visibility over your operations, schedule a demo.