Best Practices for Using a Perpetual Inventory System

perpetual inventory system

What is a perpetual inventory system?

Companies using a perpetual inventory system track both the cost of goods sold and tools and equipment present in their itinerary. This practice is carried out to verify inventory balances in real-time. Doing this provides the accounting department with access to accurate inventory stock at all times. Generally, a perpetual inventory system revolves around the following:

  • Received inventory goods
  • Sold out inventory stock
  • Items relocated within the warehouse
  • Goods picked up from inventory for the production process
  • Scrapped goods

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Five Tips for a Fixed Asset Manager

fixed asset manager

Fixed assets: Introduction, classification and uses  

Fixed assets are acquired for the purpose of helping with business processes that ultimately generate income for a company. They are purchased for the long-term and not for the purpose of resale. They have a useful life greater than one reporting period and are extremely vital for all companies that house them. A fixed asset manager works towards managing this critical company investment in order to maximize ROIs and lower losses for their company.  Continue reading

Facing These 5 Asset Tracking Problems? Here’s How to Fix Them.

asset tracking problems

Tackle your asset tracking problems the right way

Companies acquire a range of assets to augment their value and income. While these aim to facilitate business operations, their excessive quantity means that companies are constantly losing them. They contend with several asset tracking problems regularly and end up pulling down their productivity. Continue reading

Whitepaper: Executing Construction Asset Tracking Workflows

Construction Asset Tracking

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This whitepaper will talk about the challenges faced by the construction industry, and how construction asset tracking software features can help you overcome them. We will also outline some common construction workflows used by EZOfficeInventory customers to optimize construction asset management and increase their ROIs. Continue reading

Knowledge Base For Print Labels: All You Need To Know

Print Label Knowledge BaseImportance of Print Labels

The labels you choose for your product can reflect a lot of important information. It is therefore essential to make sure your labels are clear and direct. When trying to organize assets, a seemingly obvious step would be to have them labeled clearly. Simple and easily understood labels are a great way to make sure you’re setting off on the right foot with asset tracking.

1. Designing Print Labels

EZOfficeInventory enables you to create and edit labels using the Label Designer. To access this, go to either Settings → Print Label Tab OR More → Printout Templates.

Here, under the ‘Label’ tab, you can add, edit or delete templates for the following Print label types:

  • Items
  • Bundles

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Small Business Inventory Software: Survive A Management Disaster

Small business inventory software Indicators of a management disaster – poor inventory performance

Inventory comprises of stock goods ranging from raw materials to finished products and plays an important role in achieving daily business targets. One of the greatest challenges faced by small firms is maintaining optimal levels of inventory. Given the fluctuating nature of consumer demand, quantity can be quite difficult to maintain. A small business inventory software can help regulate stock levels and solve inventory problems. Continue reading

Using Tool Tracking Software to Coordinate Field, Warehouse, and Office Teams

tool tracking software

Warehouse, on field, and office teams all deal with the consequences of inefficient tool management. Well-planned tool management is one of the primary concerns for tool-intensive companies, with prominent examples being the construction, manufacturing, and maintenance sectors. Even though most of these companies understand the need for efficient tool management to optimize business processes, few take any steps at all in this direction. With more and more businesses migrating their functions to the digital realm, a tool tracking software can help streamline processes immensely.

Companies in industries like manufacturing and construction have several teams interlinked with their assets. The warehouse team handles inventory levels and oversees pick tickets. The field team works directly with the tools in manufacturing and maintenance procedures. Finally, the office team oversees this entire process, keeps track of data logs, and monitors business progress. This is true whether you’re dealing with small tool tracking or construction tool tracking. Continue reading