Tips and Tricks to Track and Manage Your Organization’s Inventory

 

idsvending.com - Tips and Tricks to Track and Manage Your Organization's Inventory

A well-managed inventory is key to successful operations. If you are looking for ways to take your business to a new level, an inventory management system can help. An inventory management system will streamline your supply chain processes and keep you organized. This article discusses different inventory management tips to help you track and control your supplies more effectively.

Categorize Inventory Carefully: Inventory categorizing is crucial when dealing with physical goods because it safeguards your profit margins and reduces the risk of write-offs and losses from spoilt stock inventory. It also marks the initial stage in demand forecasting, increased costs, supply chain optimization, and the slight decrease of obsolete inventory. 

By organizing your inventory into different categories, you may quickly determine which items need to be purchased more frequently. It helps identify the quantities and priority of items required for smooth operations in a business. Experts recommend categorizing your inventory into A, B, and C categories. Items in the A category are more expensive and in limited supply. Low-cost, high-turnover products fall under the C group. Items in the B category are in the middle; they are reasonably priced and move out of the door slower than C items but more rapidly than A items. An ABC analysis is an efficient approach for a business to assess the worth of its stock and inventory. Using specialized software can further streamline the inventory management process. 

Track Your Inventory Accurately with Real-Time Data: Understanding the status of an organization’s inventory is essential for achieving efficiency and speed in operations today. Warehouse Management System (WMS), Enterprise Resource Planning (ERP), and Material Requirements Planning (MRP) systems are three inventory management solutions. You may not need to utilize all three, but they perform best when combined. A WMS system helps keep track of your current inventory levels. It can also decrease human error and increase efficiency by automating your inventory management processes.

An ERP system is best for tracking your production schedule, ensuring you produce enough finished goods to meet demand. Making sure you have the correct quantity of items can help you avoid waste. This can be accomplished by setting up a replenishment process that tracks your inventory levels and produces a schedule to order materials. An MRP system may be used to track any timing issues in your supply chain. This can help avoid any stock-outs, which can cause a lot of disruption to your business. 

Set up a Replenishment Process to Avoid Wastage: Replenishment is one of the most important aspects of inventory management. You may have the perfect number of items, but if you do not order more when they run out, you will be out of stock. This is where a replenishment process comes into play. Use the (first in, first out) process when managing commodities that can spoil, such as materials, food products, chemicals, pharmaceutical inventory, or other items with a dated shelf life. To prevent spoilage, pay close attention to the expiration dates on your products. There are several ways to automate your replenishment process. You can set up digital barcoding and GPS-enabled RFID tags to increase security against loss and theft. This will also provide immediate inventory alerts, notifications, and real-time tracking. Another option is to create a manual system, where a person manually orders materials when needed. Always ensure that your system is based on accurate data. If your inventory is inaccurate, you will order more products than you need, resulting in extra costs and waste.

Invest in Inventory Management Software: There will undoubtedly be some challenges as you manage your inventory. Timely detection of these issues enables you to address them as quickly as possible. A problem with your system or data input practices may cause erroneous inventory data. You must find a solution if your system is not configured correctly, or your data is input incorrectly. The easiest way to solve these issues is by investing in inventory software. Inventory software automates many of the manual processes, which can reduce human error. It can also track the data, so you can make sure your system is accurate. Most companies purchase inventory management systems or use specially created databases to manage their inventories. The supplier can modify the database with inventory management software to meet their specific and overall business requirements. 

Complete Asset Tracking and Inventory Management Solution: Asset tracking systems can help with the entire inventory management process by making it easier to track inventory assets. Asset inventory management tracks all equipment and devices inside an organization – from one location to another. Managing your inventory is challenging and time-consuming but is critical to running a successful organization. 

An efficient inventory management automation program simplifies implementation by using a single vendor for hardware, software, and support. Intelligent Dispensing Solutions offers all the required hardware, software, and support to help you regain control of your inventory. IDS offers not only the most feature-rich inventory management solution but also the most comprehensive solution by a single provider. Call us today to know more.

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.

The New and Improved iQ Technology: The Medical Package

Intelligent Dispensing Solutions assists customers to find better medical supply management solutions and improve their efficiency. One way in which this is done is with iQ Technology. This module-based software enables organizations to reduce inventory costs and increase productivity.

IDS offers five iQ Technology software packages to allow you to choose a solution that works best for your organization. The next package we will break down is the medical inventory control package. This package includes the same components of the Standard Package, plus the features you need for enterprise-wide inventory and asset management. 

In addition to all of the components that can be found in the Standard Package, the Medical Package includes vehicle management, custom checklists and biometric management. These additions make the Medical Package the most comprehensive medical supply management system that iQ Technology has to offer.

Vehicle management allows you to manage all of your dispensing equipment in one location. Instead of spending time walking around to every machine within your organization, you are able to manage your equipment and check the health of each machine from one location. Additionally, vehicle management gives you the capability to set limits on the number of products that can be accessed by a single user per day, eliminating hoarding and waste. This key feature saves you and your organization valuable time and money. 

In order to ensure all machines are being inspected according to the standards you set, the Medical Package includes a custom checklist feature. During each inspection, users are able to check off each step of the inspection in order to confirm it is fully complete and everything passes its inspection. Create a checklist based on your standards.

Finally, biometric management allows the machine to track who accessed what product, the number of products that were accessed and when the product was accessed. Additionally, biometrics can be carried over from your previous machines, so employees can jump into using it immediately, instead of setting every employee up with new credentials. 

No matter what industry you are in, iQ Technology vending machines can help you manage your medical inventory. To find out more, give us a call at 1-877-771-4446.

The System Your Manufacturing Floor is Missing

As a supervisor in a manufacturing company, it is your job to look for ways to cut overhead costs without reducing employee productivity. One of the most efficient ways to do this is by considering your inventory management system. Do your employees have to rummage through a supply closet looking for gloves? Are they spending precious minutes searching a bin in order to find safety glasses? If so, you are wasting time and money that can be easily resolved with an efficient production floor management system.

Inventory management systems, such as Vend Safety from Intelligent Dispensing Solutions, determine how and when an employee accesses an item. In order for an employee to access a safety mask, for example, they must first swipe their employee ID card. Then, their item will be dispensed to them and it will be detailed for you in a report. Additionally, it can be set up in such a way that employees must enter a PIN number or even through biometrics. This set of safety precautions saves you money through controlled production floor inventory management.

Vend Safety allows for more accurate inventory management. It eliminates the need to spend countless hours tallying the number of face masks or gloves you have on hand. Instead, administrators are able to track who accessed what item(s), when they accessed the item(s) and the quantity of the item they accessed. This chain of custody is critical when identifying and mitigating risks in a crisis situation, as well as is useful on an inventory management basis during normal operating circumstances. 

iQ Technology, Vend Safety’s proprietary software, saves you time by cutting down on inventory management. Eliminate the hours spent on counting inventory and organizing your supply closet. iQ Technology has reporting that details inventory information for you. This eliminates wasting money on unnecessary supplies and allows you to reallocate your time to something more important. 

“The integration of IDS’ iQ Technology software with our existing point-of-sale (POS) system drives the success of our 300 machines healthy vending program. Plus, the software’s real-time reporting and alerts allow us to manage the program efficiently and effectively,” states Julie Hedine, Director of Food and Nutrition Services at Pasco County School District.

In addition to offering automatic dispensing solutions, many companies are looking into offering personal protective equipment to supply to companies to stock their equipment. Offering both dispensing equipment and the PPE supplies to stock them moves the responsibility of maintaining your equipment and supplies from you, back to us. It reduces the time you spend with PPE replenishment. 

Inventory management solutions can come in the form of an automatic supply dispenser or a supply locker. Supply dispensers allow employees to increase productivity and reduce employee downtime by spreading out your storage to your point of use. They ensure your team has exactly what they need, when and where they need it. Supply lockers provide secure accountability for reusable assets and consumable products. Single and multiple item dispense, check-in/check-out, loan periods and asset management are all possible with supply lockers. 

Supply dispensers are useful for products of varying shapes and sizes. They are especially useful for one-time-use products or products that should not be shared amongst employees, such as safety glasses and face masks. Trays within the dispenser can be configured to provide employees with large items, such as boxes of alcohol wipes, to something small, such as earplugs.

For items of various shapes and sizes that need to be returned for others to use, such as tools, you may find a supply locker to be more useful. Supply lockers are adjustable and can be made to have anywhere from 3 compartments to up to 22 compartments. Additionally, select supply lockers include interior lighting and chargers within each compartment. This allows your employees to recharge tools, if necessary before someone else needs to use them. Both supply dispensers and supply lockers can be attached, with the help of a satellite supply locker.

“Our vending machines are great and perform like they’re brand new,” says Daniel Bolens, Desktop Services Specialist at JAMF Software. “IDS is the perfect solution and working with them is a very positive experience. We evaluated other suppliers and IDS had the best technological solution. The machines are embraced by the team and popular in the office.” 

Implementing an inventory management system in your manufacturing company allows you to cut back on time and money spent organizing supply closets and ensuring your employees are not hoarding supplies. Whether you are on the lookout for supply dispensers, supply lockers or a combination of both, Intelligent Dispensing Solutions has an inventory management solution to help cut overhead costs within your manufacturing company.

For more information about Vend Safety, or any other IDS products, give us a call at 1-877-771-4446.

Offer safer self-service access to supplies and tools 24/7 with UVC Light Sanitizing Technology

Employers are looking for innovative ways to make workplaces safer while reducing lost productivity due to employee absenteeism. As part of this effort, many employers are exploring the use of ultraviolet sanitizer to help reduce the spread of viruses and bacteria. Intelligent Dispensing Solutions’ patent-pending UVend Technology makes the high-touch surfaces of dispensing machines and lockers safer by quickly killing or inactivating some of the most common viruses and bacteria, including influenza and the COVID-19 virus (SARS-CoV-2).

UVend Technology has been independently tested by accredited third-party testing labs to generate UV light within the germicidal frequencies and with enough power to be effective in sanitizing surfaces. The UVC light used in UVend Technology is the same UVC technology that is in use by healthcare organizations, schools, prisons, retailers and the transportation and hospitality industries. 

UVend Technology features an automated motion sensor and visible blue light. The motion sensor ensures no presence is detected in front of the machine before activating and the blue light indicates quick sanitization is in process, allowing the machine’s keypad and delivery door to be sanitized after almost every use.

Additionally, UVend Light Sanitizing Technology can be added within locker compartments to sanitize products in between uses. For example, in addition to manually disinfecting reusable hard hats after each use, UVend Technology can be placed inside a Supply Locker compartment to kill or inactivate viruses on the surface of the product. Employees can rest assured that the products they are using are safe to use with little to no viruses and bacteria.

Employees within organizations want to know that the products they are touching are clean, especially if it has been handled by other people. Many offices utilize lockers for IT equipment, such as laptops. When an employee from the IT department goes to grab a laptop to be worked on, they should not have to worry about how clean it is. This is where our ultraviolet sanitizer technology comes into play.

Whether your employees need IT equipment, electronic devices or personal protective equipment (PPE) to perform their jobs efficiently and effectively, we recognize they can’t take a break from being safe when securing those critical supplies. Give the employees within your organization peace of mind that the products they are accessing are safe and that your equipment features UVend Technology.

To find out more about UVend Technology, click HERE.

The New and Improved iQ Technology: The Basic Package

Intelligent Dispensing Solutions assists customers in their mission to find better ways to control inventory levels and improve their efficiency. One way in which this is done is with iQ Technology vending machine package. This module-based software enables organizations to reduce inventory costs and increase productivity by processing real-time data captured from IDS’ hardware.

IDS offers five iQ Technology vending machine packages to allow you to choose a solution that works best for your organization. The first package we will break down is the Basic Package, which includes the essential capabilities to streamline inventory and asset management within your organization.

iQ Technology offers a reporting system that features real-time, comprehensive insights for managers. These reports eliminate the need for timely manual inventory audits, reduce shrinkage and waste and increase employee productivity. Additionally, reports reduce the risk of keeping expired products within machines. 

The Basic package gives you the ability to put restrictions on certain products. For example, restrictions can be put in place for employees, departments or job functions to access the products they need to perform their job. You can also ensure employees are not wasting products by only allowing a certain number of products to be accessed by employees. This feature helps employers cut down on product waste and improve their inventory level control.

IDS machines with iQ Technology feature alerts that will allow managers to be in the know about the health of their hardware. These inventory alerts, which can be sent to multiple people, include:

  • Low stock in the machine
  • A product that will be expiring soon
  • Lack of internet connection
  • Open door on the machine
  • Item-specific dispenses

Keep track of your asset inventory through iQ Technology.

No matter what industry you are in, iQ Technology can help you manage your inventory. To find out more about this iQ technology vending machine package, give us a call at 1-877-771-4446.

Say Goodbye to Outdated Inventory Management Solutions

Nothing is more frustrating than opening a supply closet, only to find an unorganized room filled to the brim with computer monitors and office supplies. Instead, streamline your inventory management system and take back control of your inventory with an automated inventory control system from Intelligent Dispensing Solutions.

Whether you are in the education, pharmaceutical, fitness or textile industry, Intelligent Dispensing Solutions can help you find a system that works best for you and your inventory goals. Watch the video below to see how IDS can help you and your employees today.

https://vimeo.com/452227496/af364949f1

To get started with an IDS system or for more questions, call us today at 1-877-771-4446.

The New and Improved iQ Technology: The Basic Package

Intelligent Dispensing Solutions assists customers in their mission to find better ways to manage inventory and improve their efficiency. One way in which this is done is by the iQ Technology smart inventory solution. This module-based software enables organizations to reduce inventory costs and increase productivity by processing real-time data captured from IDS’ hardware.

IDS offers five iQ Technology vending and distribution software packages to allow you to choose a solution that works best for your organization. The first package we will break down is the Basic Package, which includes the essential capabilities to streamline inventory and asset management within your organization.

iQ Technology offers a reporting system that features real-time, comprehensive insights for managers. iQ vending and distribution reports eliminate the need for timely manual inventory audits, reduce shrinkage and waste and increase employee productivity. Additionally, reports reduce the risk of keeping expired products within machines. 

The Basic package gives you the ability to put restrictions on certain products. For example, restrictions can be put in place for employees, departments or job functions to access the products they need to perform their job. You can also ensure employees are not wasting products by only allowing a certain number of products to be accessed by employees. This feature helps employers cut down on product waste. 

IDS machines with iQ Technology feature alerts that will allow managers to be in the know about the health of their hardware. These inventory alerts, which can be sent to multiple people, include:

  • Low stock in the machine
  • A product that will be expiring soon
  • Lack of internet connection
  • Open door on the machine
  • Item-specific dispenses

Keep track of your asset inventory through iQ Technology.

No matter what industry you are in, iQ Technology can help you manage your inventory. To find out more about our iQ technology vending and distribution, give us a call at 1-877-771-4446.

Inventory Management

Intelligent Dispensing Solutions takes pride in being leaders in serving companies manage their inventory. We are working to develop the best software and hardware to help all types of organizations save money.

“What we do at IDS is: How can we help with managing your operations?” said IDS VP of Sale John Van Horn. “So we put our efforts into our software from a managing perspective. Managing what you have and that could vary.”

Our inventory management and control solutions are designed to save you time and money. IDS has designed many successful applications to assist businesses, EMS, schools and hospitals securely dispense important supplies. Our applications are used to track supplies, sell products and control dispensing.

Companies spend a great deal of money either tracking inventory or losing money from “lost” invent. IDS has inventory management and control solutions that are easy, effective and automated so supplies and inventory can get in the hands of those they were intended for when they need it. We understand that for any organization it’s about the money.

“Historically 30% has been saved by using our equipment,” said Van Horn.

IDS is committed to working with our clients to create money saving solutions that allow them to spend time and money on responsibilities other than inventory control. Call us today at 1-877-771-4446 to learn how we can help you.

Vending Machine For Office Supplies Opened in a Library

There are few things more irritating than needing something to write with and not having it. Whether you’re an office worker getting ready for that big presentation or a student getting ready to take that test, nothing quite matches the sinking feeling in your stomach when you reach for your trusty pen and can’t find it. If certain companies have their way, however, this is one problem that society will never have to face again. A number of IT office supply vending machine options have recently made their way into the world and are yielding incredibly positive results.

The Penn State Bookstore

Seeing a vending machine on a college campus is certainly nothing new. College students have been using them for quick snacks in between classes for decades. However, Penn State University recently took a bold step to make sure that students didn’t just have access to all the salty and sweet snacks they want, but also to all of the office supplies they could ever need.

Penn State University installed two such vending machines on its campus that are packed with the types of necessities that you CAN’T eat. These library vending machines are filled with notebooks, headphones, calculators, pens and other miscellaneous office supplies, taking “convenience” to a whole new level.

From the student’s perspective, the benefits are clear. If they get to the library and realize they forgot their notebook, they don’t have to rush back to their dorm – they can just buy a new one. From the University’s perspective, they’ve also unlocked a brand new revenue stream at the same time. It’s the type of situation where everyone wins.

iVendTech | A New Versatile Approach to Office & IT Supply Asset Management

ivendtech office supply and it vending machineiVendTech is just one example of an office and IT supply solutions provider that is paving the way in this regard, taking the concept of the vending machine for libraries to an incredible new level. Not only do iVendTech’s solutions help to provide all of the important supplies people need at a moment’s notice, but they also offer additional benefits by way of features like will-call lockers, real-time reporting, inventory management and control capabilities and more. All transactions from the notebook vending machine are recorded, allowing people to experience a more deeper level of insight into their inventory control than ever before. These real-time analytics can also help them make more informed purchasing decisions based on buying patterns, trends and more.

These are just a few of the reasons why smart supply vending machines for offices and other contexts are so great. They take the natural benefits of the vending machine to the next level by offering on-demand access to the tools students, business professionals and others need when they need them the most. This is just another in a long line of positive steps that vending machines have taken towards becoming important fixtures in all of our lives in recent years.