Tracking asset management software is quite a mouthful, but do not let its big name intimidate you. It is focused on the big picture by helping you monitor all of the small bits and pieces that go into making a big organization run smoothly. It is a useful tool for organizations of all shapes and sizes that are looking for ways to cut down on their costs and run more efficiently. Tracking asset management software automates many of your business operations and it helps you to make better use of the limited resources at your disposal, by closely monitoring all of your asset levels and offering helpful insights into when and where to use them.
Tracking asset management software allows you to track assets in multiple ways. Let’s discuss three of them in greater detail below. These will be:
- Multiple locations
- Production process
- Order management
Multiple locations
Do you have more than one location that you do business from? Perhaps you have an office building where you need certain items, such as chairs, computers, paper, pens, ink, and other similar office supplies to properly do your job. And you also have a warehouse that needs cranes, pallets, trash compactors, shelving units, forklifts, hard hats, and other related industrial supplies to allow you to effectively and safely do your job there. Obviously, these two locations have very different needs from each other, but they are united in purpose. Both locations are used to facilitate the overall business or organizational process that they are meant for. How do you account for multiple locations when tracking all of the assets in your organization? By using tracking asset management software!
With tracking asset management software, you can make sure that you have the right assets in the right locations. So you do not wind up with a forklift at the office building, or an entire pallet of paper meant for printers at the warehouse. Such a mistake not only causes confusion, but it can also cause serious problems when if the right supplies are not in the right places, potentially resulting in major delays or incurred costs.
Not every warehouse will have exactly the same needs, so there is no one-size-fits-all approach. It is important to get the optimum mix of parts and materials at each of your locations. Tracking asset management software with multi-location management will help you find that balance and avoid unnecessary missteps and delays, by ensuring you always know where everything should be stored within each of your locations.
Production process
Would you like to see where your resources are being used and what condition they are currently in? You can absolutely do that with the aid of tracking asset management software. It is much more cost effective to perform regular upkeep on your equipment than to simply junk it and buy new, replacement equipment. Thus, it is a smart idea to constantly check your equipment and make sure that it is working properly. If you notice any signs of wear, you can repair it to avoid unnecessary delays and other problems that come from malfunctioning hardware in the production process.
If you cook food, manufacture medicine, or do other tasks that involve combining a number of materials to create a wholly new product, you need to know if you have the right supplies on hand, and if you are producing the right quantity. You definitely do not want to produce too much or too little, because either one creates its own problems. Too much means you have to find a place to put all of the excess items, leading to higher carrying costs and even the loss of space for more important items. On the other hand, too little means that you do not have enough quantity on hand to properly perform essential tasks and it may even mean that your equipment and other resources are not being used to their fullest potential. There is always room for improvement, and you can discover areas that did not even consider before where you can save time and money by using tracking asset management software.
Order management
You can speed up the order management process by using tracking asset management software to automatically print shipping labels, invoices, packing slips, and more. You can even compare the costs of a variety of shipping methods from UPS and pay for a shipment right from the software interface, via a plugin. And you can even check other shippers, such as the United States Postal Service and FedEx, via other shipping integrations. If you need to move items quickly, whether it is transferring them between warehouses or sending them to end users, there is no better way than with a powerful software solution. You do not even need to record a sale, or do anything of that sort, to generate a transfer order in tracking asset management software. You can simply transfer items between locations without having to worry about payment methods, tax rates, etc..
You can also reorder parts by scanning their barcodes and instantly creating purchase orders. Tracking asset management software allows you to set up automatic reorder points, minimum quantities, maximum quantities, and reorder quantities on every single item in your warehouse. Doing this ensures that when an item’s quantity gets below a certain number, you will be instantly informed that it is the appropriate moment to order more. And you know exactly how many to reorder to avoid having too many or too few stockpiled on your shelves.
Learn more about tracking asset management software today by requesting a demo of Fishbowl.
TL;DR SUMMARY
Tracking asset management software has three main angles from which it allows organizations to monitor their equipment, goods, and other items:
- Multiple locations
- Production process
- Order management