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How to Keep Track of Office Inventory

How to Keep Track of Office Inventory: Office inventory is one of those topics that may not be on management’s radar until it has an impact on their bottom line. The goods an organisation need to perform its activities are referred to as “office inventory.”

Everything from pens, pencils, file folders, notepads, and printer paper to cleaning supplies, breakroom snacks, and even cables and power cords for your IT needs may be found in your office inventory.

It may come as a surprise to realise that such items can have a large and negative impact on a company’s earnings.

Organise Your Inventory

Consider the refreshments available in an office breakroom. You may offer your office manager carte blanche to pick up their favourite food at the nearby big-box retail store where you have a membership to indicate how much you respect them.

Those snack assaults may grow more regular over time, to the point where you’re spending hundreds of pounds every month.

Here’s another example: You make an order for extra keyboards and power cords since one of your departments have requested them. You had no idea, however, that you had brand-new keyboards and power cables in another area that might have been utilised to fulfil this request. Perhaps some of the new keyboards and power cables you bought a few months ago have vanished, prompting you to place a fresh order.

All of these instances show that office supplies inventory is mismanaged, and they represent a larger issue of a lack of an effective inventory monitoring system.

When these occurrences grow more common, the financial loss mounts. Companies have less cash on hand to spend on other things. If left uncontrolled, chronic waste can lead to a company’s downfall. Supplies may easily fly out the door or go through the cracks if there is no accountability.

Assign Responsibility

Unfortunately, firms cannot rule out the possibility of employee theft of equipment. The theft of “non-cash” goods jumped from 10.6% of corporate theft losses in 2002 to 21% in 2018.

We actually published another article on how employee theft affects other co-workers: “Employees that steal from your organisation not only deprive you of your money, but they also deprive their coworkers. This is true in terms of financial damages for all parties involved, as well as the sort of atmosphere generated as a result of theft. Tension arises, as well as mistrust and unfounded rumours. As a result, management frequently responds by enacting harsher laws that limit the liberties of the whole workforce.

Data should be organised and centralised

The financial component is only one factor; the impact of bad office inventory management on your workers’ time and productivity cannot be overstated.

The average employee spends 90 minutes each day hunting for information, whether on the phone, in file drawers, or in electronic files.

They can check up on what they have and where it is in a single, centralised location using an office inventory management system, allowing them to make educated decisions based on real-time conditions.

Think of a Digital Solution

Well, luckily you don’t have to think, as we already did that part for you. Introducing CASMAs more and more companies adjust to working remotely, CASM is here to help you manage, streamline and centralise your fixed assets and contracts from the tap of a button, wherever you may be through our fixed asset management software. From equipment management for schools, or fixed asset management software for large businesses.

More than simply your essential goods may be tracked and managed with an office inventory programme. It may also be used to keep track of your fixed assets, such as office furniture and equipment, IT assets, corporate cars, and so on.

Preventive maintenance will most likely be required to keep your equipment in good operating order and avoid costly repairs.