How Smart Lockers Enhance Inventory Management

Today’s inventory management, while complex and demanding, is a crucial part of every organization’s functionality. Therefore, it’s necessary to invest resources in the latest solutions that will increase efficiency within your organization.

Smart Locker storage is soon changing the way we track and manage inventory. This wonderful technology enables the distribution of inventory at the point of need. Smart Lockers simplify inventory distribution by reducing costs and taking away many processes that require hours of management. 

How Smart Lockers can be the difference?

On a basic level, smart lockers are modular storage devices that organizations can use to protect their most valued assets. But these are devices with a cutting-edge proposition, a highly secure digital platform that can simplify asset management in various ways. iQ Technology from Intelligent Dispensing Solutions, can systematically maintain a real-time digital record of transactions, which helps keep track of assets. The accountability of each of these assets will be clearly specified. It can meet the various requirements of organizations without any need for the employees to search for supplies, as they have what they’ll need with a click of a button. 

Smart lockers feature live analytics and multi-featured dashboards. iQ Technology software allows you to track all your items in one location.

 We at IDS design Smart Lockers that can fully address your team’s needs, facilitating the storage of critical reusable assets, consumable products, and other inventory. 

Automate your processes

Maintaining and tracking asset details through spreadsheets and scheduled audits is laborious, error-prone and time-consuming. Any lapses in the process could lead to a significant loss of time and money. These efforts can now be easily managed with easy-to-access Smart Lockers that can automate tasks and generate usage reports. The analytics and usage reports provided by iQ Technology make inventory management more simple and accurate.

Users will have access to analytics and data reporting that can help identify critical issues that require immediate attention. Real-time updates and notifications help management provide accountability and understand the details of each asset transaction. This accountability also provides reminders to help employees be aware of any assets that must be picked up or restored.

Assigning and identifying accountability 

It only takes a moment for an asset to be misplaced, stolen, or destroyed. With Smart Lockers, you can restrict the usage of assets to a select few employees. Credentialed employees can access the locker compartments through RFID badges, barcodes, mag stripes, and even an ID barcode card. The detailed layout offered by Smart Lockers enables management to have a thorough understanding of asset usage, including the people assigned with the responsibility for the asset, where and when they have used it. Assigning an asset, which takes hours in a typical manual setting, can be done with the click of a button. Moreover, the web of security provided by usage logs meets the standards of internal security and policies based on industry-based regulations. 

IDS Adjustable Lockers can be used for secure asset management in the form of single-dispense, multi-dispense, will-call, check-in/check-out and storage for high-dollar items or user-specific items that contain sensitive data such as laptops, tablets and smartphones. 

Intelligent Dispensing Solutions is a pioneer in developing innovative dispensing solutions for inventory management and have proved our expertise as a leader in inventory control dispensing for over 20 years. As one of the world’s largest manufacturers of integrated Supply Dispensers and Supply Lockers, we offer solutions that match the unique needs of our client base around the world. We’d love show you how it works.

Utilizing lockers and dispensing equipment to access office supplies is more than just an asset management initiative.

The benefits of utilizing lockers and dispensing equipment - idsvending.com

Resource availability and its impact on the modern office environment

Timely availability of necessary office supplies is essential for a business to maximize productivity. Sometimes missing a $40 computer mouse can ruin everything when deadlines are tight. Not having the necessary IT and office supplies can also lead to unplanned downtime, a.k.a. waiting. The Ponemon Institute’s annual report concludes that the average cost of downtime could be anywhere between $137 a minute for small businesses to $17,244 a minute for large corporations. [1]

The cost of lost productivity is just one of the impacts of unavailable office resources. Approximately one out of every eight employees who participated in a Paychex survey claimed to be very dissatisfied when they felt they had too much downtime. [2] Safety-related supplies and materials can impact the well-being and morale of the workforce, too.

Addressing these and other potential challenges due to inadequate supply of resources can be easily overcome using controlled dispensing solutions. This article discusses the benefits of smart inventory management technology like Supply Lockers and Supply Dispensers for the modern office environment.

Controlled dispensing as a solution to resource availability challenges

Controlled dispensing solutions can provide access to necessary resources by validating the user based on prox cards, barcodes, keypad and mag stripes. This ensures timely access to supplies for employees instead of waiting at a help desk or for IT to respond to their request. This also allows the business to track the consumption of supplies by employee, department, branch, or any other level of designated personnel.

A comprehensive smart inventory management solution has two essential components – hardware and software. The hardware consists of Supply Lockers and Supply Dispensers that hold the supplies. The software layer is the backend brain behind the hardware. In our case, iQ Technology software sets access workflows, product restrictions, as well as alerts and reporting. There are several applications for controlled dispensing in an office environment. Some of them are listed below:

  • Service Desks

IT support professionals are busy fending off external attacks, evaluating device performance, asset monitoring, network connectivity and other essential tasks for business continuity. Providing IT supplies to employees who need them is important, yet does not require the skills of a trained IT expert. Controlled dispensing can help eliminate service desks and free up valuable IT bandwidth.

  • Procurement Systems

Efficient businesses are always in the pursuit of maintaining the right level of inventory. Purchase departments are tasked with ensuring the availability of necessary materials while keeping the cost of inventory as minimal as possible. Inventory management modules of controlled dispensing solutions help maintain an optimum amount of supplies in stock. The solution can provide real-time information about reorder levels that help maintain the best amount of inventory.

Benefits of Controlled Dispensing

Controlled dispensing solutions deliver direct benefits to IT support desks, procurement departments and employees. Factors like business continuity, operational efficiency, and real-time insights create value for large organizations. This translates to business benefits like:

  • Profitability

Businesses can enjoy cost savings and operational efficiency by using controlled dispensing technology. Lockers enabled with inventory management software can track and optimize the usage of assets. Shrinkage due to hoarding, loss, and expiration can be avoided by implementing controlled dispensing technology.

  • Accountability

iQ Technology software makes sure only designated individuals can access certain supplies. Administrators can track who is taking what items, when and how many. The system establishes a transparent chain of custody for valuable assets and drives accountability at all levels.

  • Reliability

Supply Lockers and Supply Dispensers can improve resource availability. This creates a reliable process and eliminates resource-related uncertainties. Automated alerts about PAR levels can preempt purchases to avoid unplanned downtime.

  • Efficiency

Controlled dispensing minimizes downtime and keeps employees on task. It also reduces human effort, freeing up bandwidth for more important activities. By minimizing downtime, the inventory management component of the dispensing solutions improves the efficiency of capital utilization. The availability of real-time information about resources allows for better workload planning. 

  • Safety

Controlled dispensing results in fewer touchpoints, decreasing the likelihood of transmitting viruses and bacteria. This will translate to a safer workplace in the age of fast-spreading contagions. 

  • User Experience

Employees can now avoid the need to line up to collect essential supplies. Frustration that arises due to the unavailability of the necessary tools and supplies for day-to-day operations can be avoided with dispensing equipment. Employees can plan better with the help of real-time visibility and inventory alerts, to keep on hand the tools and resources that are essential for executing their responsibilities.

Conclusion

Controlled dispensing solutions can deliver value across the entire organization. Different stakeholders like production employees, IT support teams, procurement divisions, administrations and maintenance departments participate in the flow of inventory and the value creation process. Dispensing technology delivers value to all these stakeholders by ensuring the availability of resources and acting as a single source for all inventory-related information.

Implementing the proper hardware and software is the key to realizing these benefits. IDS has helped large Fortune 100 businesses and small enterprises harness the power of controlled dispensing technology to achieve business benefits.

Talk to our experts at 1-855-459-4536 to learn how we can get you started on empowering your office with the best controlled dispensing and inventory management solutions.