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Inventory Management

Inventory Management Made Easier

By Dr. Alex Wong
December 2, 2022 • 3 min read
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Inventory Management Made Easier
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Businesses all over the world know how important it is to have good inventory management. However, this can often be harder than it seems. This is particularly the case if the inventory itself is quite large. Here is where itemit’s inventory management software can make a real difference. Our software exists to ensure you can have full control of everything in your inventory at all times.

How Inventory Management Works

Our inventory management software works by creating a digital profile of all of your assets. The whole process expertly identifies and responds to any changes in stock levels. Whether these changes are as a result of fulfilling your currents, preventing stock shortages, or keeping you up to date, you’ll be in good hands.

When you create a digital profile you can attach a QR code or barcode to an asset. As soon as you do, scanning the code will ensure that the profile in question relates to that asset. In the profile, you can add information such as the asset’s:

  • Purchase price
  • Resale price
  • Date of purchase
  • And so much more

Every digital profile can contain a lot of information about each asset. This feature alone can help to make inventory management so much easier.

Business Asset Tracking

Inventory Management And The Associated Benefits

There are many clear benefits associated with managing an inventory using our software. Some of these benefits include:

Fewer Ghost Assets

When you have an inventory that is well managed it’s highly likely that you’ll have fewer ghost assets. Assets such as these are those which are still in the system but have been lost or stolen. However, it is not clear that these assets have been lost or stolen as they are still assumed to be in stock.

When you add all of your current assets to itemit’s software, you get a clear picture of just how many assets you have. You will also be able to track the location of each asset, should you wish to. Again, this can help you to have fewer ghost assets.

Lower Costs

Any business that wishes to save money should consider using our inventory management software. This is because there’s a huge potential to reduce costs as it will be clear what you have in stock. Assets can be pulled from any location to fulfil the needs your business has. As a result, you’re a lot less likely to order stock that you no longer need.

Our software can also help you to lower your costs as it helps you to see exactly where more stock is needed. So, for example, if site A has 255 units but it needs 260, 5 units can be pulled from site B which has an excess of units. This can help your business to save money by showing you exactly which sites have how many assets.

Save Time

When inventories are managed well they help to optimise every employee’s workflow. This is due to it being possible to detect where all of your assets are. If you have a busy warehouse that’s hard to navigate, for example, it can take time to find what you need. Here is where itemit’s software can help. At the touch of a button, you can see every asset’s last-known location. As a result, it is possible to find the much-needed assets within minutes.

When time is saved finding an asset it means employees can carry out their taste more quickly. This, in turn, means that more work is likely to be undertaken at a faster pace. This can only be a good thing for businesses.

More Control

When you use the right management software you automatically have more control over all of your assets. Within moments, you will be able to see what you have in stock, where it’s located, and much more. Thanks to the way that our software works, you can export reports, should you need to. If and when you do, you can have a much clearer picture of how your business is performing and what your stock-related needs are. It’s no wonder, then that more and more people are signing up for our software.

Use itemit’s Inventory Management Software Today

itemit can help you to effectively manage your inventory today. As you may be well aware, effectively managing your inventory can benefit any business in a variety of ways. Thanks to the way that our software works, you too can help your business to grow and thrive.

If you would like to chat about how our inventory management software can help you, please contact our friendly team today. You can reach them at team@itemit.com. Alternatively, you could fill in the form below to make use of our 14-day free trial to find out just how well our software can help you.

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Dr. Alex Wong

Article by

Dr. Alex Wong

Dr. Alex Wong is the CEO & Co-Founder of RedBite Solutions, a spin-out from the University of Cambridge and creators of itemit. For more than 2 decades, Alex’s innovations have disrupted industries and reimagined traditional solutions, delivering breakthrough results. A pioneer of the RFID EPC Network and IoT, Alex has shaped modern tracking technologies. RedBite powers the world’s largest RFID deployment across 60+ countries and launched itemit, a leading barcode, QR code, GPS & RFID SaaS tracking platform. Dr. Wong holds a PhD in Engineering from Cambridge and remains an embedded researcher, leading EU & Innovate UK projects to bridge research with real-world applications.

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