Is your stock management affecting your business’ efficiency?

Keeping your business running efficiently is something that every managing director wants; not only does it make their job a whole lot easier to manage, but it also allows them to streamline many of their operating processes, too.

For many, the typical eight-hour workday is seen as more of a strict deadline than a period of time to work on their businesses. This can often make it seem like there’s not enough hours in the day to get the work done, but with a few tweaks to how your business process works, you will notice a drastic difference in the efficiency of your business as a whole.

Review your asset management

One of the most common reasons for workplace inefficiency is that many businesses are still using manual management for their assets. Whether it’s using manpower to track assets, maintain specific products and services, or simply conducting audits, taking time out employees already busy schedules to conduct these tasks isn’t always the best use of their time – or indeed necessary.

If you feel as though your business is struggling with efficiency, the first place that you should look at to change is how you manage your assets. There are many ways in which asset management can be automated – or at least made more manageable without needing the help of a large chunk of your employees’ time.

Depending on the assets that your business needs to manage, there are plenty of different software solutions out there for almost any type of asset. How do these help? Well, they are guaranteed to:

• Help you conduct audits quickly and effectively
• Comply with specific processes and rules which are put into place
• Report on or track assets with ease.

Determine inventory control measures

If you are a business who deals with physical stock, then it’s important that you have some form of inventory control in place. This will enable you to be sure that you can keep up with any price changes – particularly increases – while minimizing the possibility and costs that low or out of stock can incur in a business.

We’re definitely in a better place than we were in a few decades ago, and this is mainly thanks to the advancement in technology; managing stock has never been easier, no matter how big or small your business is.

By integrating an inventory control system, a business will be able to completely manage the stock that they have available with up-to-date, real time reporting – sometimes even with the help of an automatic system such as the G-Smart Link 50.

Systems such as these – coupled with barcoding systems –  will allow a business to have complete control over their stock. By scanning one product, an employee will be able to have instant access to information regarding that particular product, including stock levels, and can report on the stock without the worry of human error – giving a more accurate, efficient streamlined solution which will positively impact the running of the rest of the business process, too.

Don’t make the mistake of giving your workforce more tasks than necessary – there’s plenty of technology solutions that can aid you without requiring a whole team sacrificing their valuable time at work.

GSM Barcoding are the largest label and nameplate printing suppliers in Europe and offer a wide selection of technology to help businesses with stock control, asset tracking and barcoding and labelling solutions.