Assets and inventory are two entirely different things for an organization, but they may also share more similarities than one might think. While they both play different roles in the overall picture of an organization’s operations, they also commonly weave together and work in tandem to make the entire process run at its best. Because of this, when they’re not both firing on all cylinders and at times working together in harmony, it’s felt by all involved.
We’re going to dive into some of the key differences and similarities between assets and inventory, while also taking a look at some of the ways that you can ensure your operation is using everything at its disposal to manage all your stuff as efficiently as possible.
Separate Functions, Similar Value
Any organization would be hard-pressed to tell you what’s more essential: their assets or their inventory. Both are equally important, and both have serve drastically different functions. They also have wildly different impacts on the company’s bottom line, and are managed differently.
Inventory includes public facing items. When inventory isn’t at its best, it’s not only felt by the organization internally, but it’s felt by the customer as well. Inventory inaccuracies can not only cost valuable time, but they can cost money too, impacting both counts and fulfillment.
Assets include internal use items. Your customer may not care about that high use barcode scanner, but you sure do. While this equipment or technology or tool will never hit the hands of a customer, that doesn’t make it any less vital to their experience. Knowing exactly where your company’s assets are at all times, and being able to manage their journeys throughout the work space, helps you deliver an experience that resonates well beyond your own internal operations.
So, sure, assets and inventory may have plenty of differences, but they also have one thing completely in common: when they’re properly managed, the company feels it. Especially in when it comes to the company’s overall efficiency.
Employee and Customer Happiness Makes the Difference
Much like assets and inventory, an organization’s employees and its customers are two very different things. But their impact on the company’s overall picture is anything but dissimilar. So when it comes to assets versus inventory, though they may affect these two different ends of your company’s pulse a bit differently, they still have a similar result in the end.
Take inventory management and customer satisfaction first. These two elements are so intrinsically linked that it’d be impossible to separate them. When you’re on top of your inventory, that makes for a happier customer. It’s that simple. Because when your inventory management isn’t just getting by, but it’s thriving, the customer feels it. Being able to always deliver for the customer and their needs can sometimes be best and most easily addressed through proper inventory management. When those needs are met and the customer doesn’t feel the headache of a potential inventory logjam, they’re simply more happy, and that’s everything.
Great asset management may be less about the customer, but it can have a similar effect on the employee: one serious boost in happiness. When the employee is given the tools to better track, and be tracked, during their journey with the organization’s valuable assets, they get more peace of mind. More peace of mind to do their job through not having to worry about logging an item’s whereabouts through outdated pen and paper systems. More peace of mind knowing that their boss has a clearer picture of where assets are at all times. Simply more peace of mind and more happiness by being able to do their job to their absolute best.
How IntelliTrack® helps
IntelliTrack® is able to sort through the vital differences in these two key components to your operation, while still giving you serious control over mastering them both. Whether that’s through the ability to have a better handle on inventory through the tools to quickly fulfill orders and maintain inventory accuracy, or helping you rule asset management by getting a quick, clear picture of exactly where your valuables are at all times, IntelliTrack® can handle it.
While assets and inventory are as different as employees and customers, having every tool at your disposal to stay on top of them both delivers the same results. By using IntelliTrack® to monitor your assets and your inventory, you’re able to get better information, control, and management over these key components to make for happier customers and employees, alike. And nothing’s more important than that.