Every business surely maintains a roster of equipment for different uses. With that, it is important that the office administrator regularly maintains an inventory of all the supplies.
Doing an inventory not only helps you make sure that office is not running out of supplies. It also helps you keep track of the equipment that needs upkeep or repair. Furthermore, an inventory of all these items is important in valuing the business based on existing assets.
Below are some pieces of advice that will help you in doing your office inventory.
Pick the Right Time
You may do an annual or seasonal inventory to cover all the purchased or lost items in a year. This is advisable if you have a highly operational business where weekly or monthly counting may affect the business’s productivity. But you may do cyclical counting if you want to monitor where your assets go through in real time. This, however, only suits specific types of businesses.
Categorise the Items
Establishing a taxonomy of items will help you easily categorise which assets can be sold, disposed of, and repaired. Start with daily office staples, such as computers, pens and printers. If you’re running a manufacturing business, you should include the vehicles, machines and raw materials in the list. You may use a portable printer and labels to mark the items.
Determine the Areas of the Items
Identify where all your assets are situated. If you’re running businesses in different locations, you will have to visit them personally to do the counting. Don’t forget to check the equipment you keep in self-storage facilities and third party solutions providers.
To streamline the entire procedure, you may use a software program or work with a reliable provider. To prevent losses and theft, you should establish a policy when it comes to usage and borrowing and start a culture that doesn’t foster corruption and fraud.