Inventory valuation is a critical accounting measure for all businesses. These metrics are used to calculate the value of unsold items at the end of each financial year. Choosing the right valuation and costing method can help you determine the monetary value of remaining inventory, evaluate cost of goods sold and eventually estimate profitability.
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The Asset management landscape has been evolving rapidly amidst digital transformation over the past decade – and a global pandemic for the past year. 2020 saw an increased inclination towards emerging digital transformation trends in asset management. A cloud-based tracking solution can help organizations significantly improve asset management rate of returns, save money, and improve overall business efficiency.
EZOfficeInventory’s May 2021 Release Notes are packed with exciting new feature updates. We have introduced a major feature to track Work Order costs and in another important update, you now have the ability to generate customized, company relevant labels for Carts and Work Orders.
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Do you need more visibility into all the resources being used for different projects across your organization? Project administrators can benefit greatly from a consolidated view of these resources which can include items, procurement, and maintenance work. This is especially useful for projects that go on for long periods of time.
Whether you are a small business or an enterprise, you likely schedule multiple maintenance and service events every day. But do you keep accurate track of how much this work is costing your organization?
Fixed assets are a company’s largest capital investment and have a useful lifespan of five to ten years. A robust fixed asset lifecycle management routine focuses on optimizing useful life while minimizing downtime costs. This strategy is called fixed asset management and includes all aspects related to a business’s critical assets.
To enable a more streamlined purchase order process, EZOfficeInventory has introduced the feedback system. Whenever a faulty purchase request is received by an admin, they do not have to reject it right away. Instead the admin can add comments and re send the purchase request (PR) to the requester. This way the requester can edit the request and send it for approval again.
Maintenance management is a comprehensive process that involves maintaining a company’s assets while controlling costs and ensuring efficient equipment performance.
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The construction industry is expected to grow to $8 trillion by 2030. While these are promising numbers, this also means a rapidly expanding and highly competitive landscape.
Running multiple business Work Orders efficiently requires accurately tracking the associated costs. Given the diverse kinds of Work Orders created at organizations, tracking the cost associated can be time-consuming and also prone to errors. To eliminate such inefficiencies, EZOfficeInventory has launched a new feature to automate the calculation of Work Order Costs. Let’s talk in more detail about how to implement this feature:
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