Getting Your Inventorying Right

Inventorying can be a mentally and physically exhausting operation for anyone who is involved with the process. Getting numbers right, stocking and making sure that all is accounted for can be days’ long activity depending on the size of your demand and supply. So for making sure that you have all your bases of problematic situations covered, here are some tips to consider.
Assets tracking and valuation
In fact almost all businesses, regardless of size, have some type of asset in their midst. It could be the land the shop is located at, the building and all of its components, or the business’s equipment and technology and plethora of other things that are under the ownership of the business which counts as assets.
A valuation of these assets is necessary and sometimes when you are doing the inventorying process, you might need the help of a barcode printer to add a name and tag for each physical asset if possible.
Stocks and bonds
If you have invested your company money into stocks and into bonds of banks and other institutions then you will be required to keep a firm eye on these and also have detailed knowledge of the exact amounts involved in these transactions. Keeping up with the market your investments are involved in is the best way to avoid bankruptcy.
Foods and perishables
Most retails stores have items that are perishable easily and have expiration date (mostly within our lifetimes) listed on them. These items always need to have a tag from a barcode printer in order to be able to bill them and keep the billing logs for the store.
Perishables can have a short term or long term expiration date depending on the type of material it is made of but all these items all need to have different inventories made for them (equipment, maintenance, raw, furniture and fixtures, rental or movable, vehicles, products, services, etc).
People
Sometimes your employees can be considered into the inventory as well. People have to be counted especially when they have a specific skill set or are involved in a specific project.
Areas
The locations of your offices, branches, project sites, customer sites, event sites and any other locations (remote or otherwise) have to be documented properly. If you have the numbers for the land documentations and other details, it will be a good idea to add these as well.
As inventorying takes time and energy, it is recommended to be done during off-work hours as it will not interfere with other work. In a retail store the inventorying should be done prior to ordering supplies to make sure that all missing things are accounted for.