Inventory management serves three purposes: To keep an accurate count of what is available, to understand consumption for better planning, and to ensure depreciable items are accounted for properly.
Although some inventory management rules are not made by the facility management team, facility managers are responsible for efficient utilization of their inventory. To get the most from your inventory resources, technology such as bar coding used by Preventive Maintenance Software can be a good investment.
Bar coding assigns a number to a piece of property to track its physical location and also to create a history of use. Handheld scanners can then be used to effectively manage inventory, such as supplies, tools, parts, and equipment.
Considerations for implements a bar coding system:
- What degree of detail is desired for inventory tracking?
- What will be described (Condition, Quantity, etc.)?
- How are locations defined so that everyone understands them?
- Will inventory be differentiated (depreciated value, owned v. leased, etc.)?
- What will be the strategy used for initial tagging?
- How will information be updated?
Although purchasing handheld scanners to benefit from bar coding does come with an up-front expense, it is an effective way to optimize inventory management in mid to large size organizations.