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So, here’s the deal. IT asset management (ITAM) as a capability is something that can really help your organization to get a handle on what’s being used within your IT environment. Done well, it can save your organization money (including third-party spend), drive operational efficiency, and mitigate risk. All too often though, people get bogged down in the detail of ITAM or find excuses (often myths) which prevent them from starting out on what should be a very successful ITAM journey. So, let’s separate the fact from the fiction, with some good old-fashioned myth busting. Myth 1: ITAM Doesn’t Apply to Me Real life: News flash people – ITAM applies to all organizations. It doesn’t matter who you are, what your organization does, or if it’s big or small – as a minimum, if you have software, you need to have the appropriate number of licenses in place and are subject to audits from the software vendor (with the associated fines for non-compliance). Myth 2: ITAM Is Too Difficult and Expe...

Inventory management isn’t something many professionals enjoy thinking about, even those who work in the field. That’s one of the primary reasons it’s helpful to implement best practices that are proven to streamline inventory management processes. Making an otherwise cumbersome, time-consuming, and frustrating process simpler and more efficient will save you many headaches, keep your workforce on-task and business processes flowing, and even boost the company bottom line. Inventory management isn’t something that’s limited to warehouses. Even manufacturing businesses benefit from sound inventory management for maintenance, repair, and operations equipment. Here are a few best practices for inventory management that apply to every business. Proper Asset Categorization Lays the Foundation The first step in effective inventory management is to properly categorize your company’s assets. Defining moveable versus fixed assets is a broad categorization, but you should also categorize assets ...

In omnichannel and ecommerce companies, inventory management, including tracking and reserving inventory for orders, is crucial for maximizing sales and improving customer satisfaction. If you can’t give customers accurate product availability, status, immediate delivery and store pickup, you’ll probably lose the sale and the relationship. Inventory management systems and processes are dispersed throughout the business. It’s also difficult to analyze how to improve accuracy and timeliness. Without a total replacement, how can you incrementally improve systems and processes? We will outline a 5-step process for assessing your inventory systems and developing an action plan for improvement. Assemble Your Team Make the project team company-wide including: Study groups of merchants and inventory control Warehouse personnel that can contribute inventory knowledge in receiving, cycle counting, order fulfillment and returns processes Store personnel picking customer orders Ecommerce analysts ...

Inventory management software is used to track inventory levels, sales processes, orders, and deliveries. It can also be utilized to generate production-related documentation such as work orders and bill of materials. Companies make use of this system to avoid overstocking of products and outages. Inventory management software offers an improved way to organize inventory information compared to spreadsheets or paper. This solution resembles distribution software because it helps distributors spend less money on inventories, thus giving them an edge over competitors. Main features of this software include order management, asset tracking, service management, and product identification. Start by checking our leader Zoho Inventory, and other recommended solutions in this category. Companies that deal with large amounts of physical products need a reliable and efficient inventory management software. But since there are hundreds of tools in the market, it can be a hard task to select the r...