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Digital inventory management saves time, money and effort

by Rohan Mathawan
September 6, 2023
in Tech
Reading Time: 4 mins read
0
Digital inventory management saves time, money and effort

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The administrative workload in modern companies is known to be enormous. In addition to the usual accounting, personnel, order and inventory management, there are many other obligations, depending on the industry, such as inventories or safety checks for tools and machines.

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In view of scarce raw materials and unpredictable delivery times, sustainable handling of materials is indispensable – also to save costs and time. Software-based solutions such as automated maintenance planners and digital inventory management can support this.

Simple and efficient inventory management via digital system

Digitally recording inventory for new acquisitions is not a particular challenge, as new purchases can simply be entered into existing systems.

However, it becomes more difficult when different, already existing assets – from office chairs and IT equipment to construction machinery and tools – are to be inventoried in a software solution. Especially with dynamic events such as changes in location, responsibilities and maintenance dates, conventional word processing and spreadsheet programmes reach their limits here.

To remedy this, the Swiss start-up Timly has developed a cloud-based inventory management software that is suitable for recording a wide range of work equipment. The software offers functions that go beyond a purely static inventory.

These include, among others, a maintenance planner, a special inventory mode and GPS tracking functions. In addition, the solution enables true multi-user capability, so that entries can be made where the inventory is actually used.

Perform digital inventory management easily with QR code(Copyright: Timly Software AG)
Perform digital inventory management easily with QR code
(Copyright: Timly Software AG)

Inventory management made easy with QR code

Individual assets are identified via QR codes, which can be printed out as space-saving stickers and attached to the items when they are first recorded. By scanning the QR codes, the corresponding profiles can be accessed.

In the process, various information about the device can be stored, including operating instructions or maintenance notes. The authorisation management prevents unwanted entries and changes by unauthorised persons.

Timly’s inventory management is based on two pillars: central storage of all data in the cloud and access via smartphone app. Whether in the office, in the warehouse or on construction sites – access to the database is possible from anywhere.

The application can be used on various end devices, be it via browser on the PC or via the app on tablet and smartphone. The camera of the mobile devices also serves as a barcode scanner, so that tools can be handed over on site and the person responsible can be changed in real time. The cloud connection also offers a security advantage, as no direct connection to the company network is required.

A normal internet connection is sufficient for access on the move, and the security of the cloud storage is guaranteed by the provider, who complies with the General Data Protection Regulation (DSGVO).

More information leads to more plannability

The software also offers a useful function for scheduling and planning. Filter and evaluation options allow dispatchers to view the locations of work equipment and to see in the maintenance planner when a piece of equipment is not available.

For companies with many different tools and machines and a high maintenance requirement, the central maintenance planner is an enormous relief. Keeping service appointments is essential for the longevity of the equipment, and missed inspection appointments can lead to unnecessary trouble.

The maintenance management software allows appointments such as the e-check to be displayed in the office to quickly identify the equipment that needs to be tested and reduce the risk of it being overlooked. Employees receive notifications when appointments are due, if desired.

The generic orientation of the inventory management enables its use in various industries. In addition to construction companies and manufacturing, hospitals, municipalities and schools also use Timly’s solution.

Taking inventory in modern times simply from home

Digital inventory management offers advantages especially in the area of IT equipment care. In times of increasing home office activities, it is common for devices to be taken home or mixed with private devices. In order not to lose the overview, corresponding profiles can also be created for private devices used at work and approved end devices can be recorded.

The so-called self-inventory enables companies to keep track of their inventory at all times – regardless of whether it is at the employees’ homes or in the office. In addition, versions and patch levels of security-relevant software can be added to the inventory management.

Carry out inventory management on all devices - and always have everything in view with the cloud(Copyright: Timly Software AG)
Carry out inventory management on all devices – and always have everything in view with the cloud
(Copyright: Timly Software AG)

Cloud-based inventory management in action at Euromaster GmbH

A concrete example of the successful use of digital inventory management is the globally operating company Euromaster. The goal was to digitise all inventory of the approximately 250 locations and thus efficiently link them with each other.

Whereas previously numerous Excel lists were more or less well maintained, Timly’s digital inventory management could now help the franchisees to administer and manage all their assets – whether at home or abroad.

Especially with regard to inspections, maintenance and equipment testing, it is important to have all information in one place. This is the only way to ensure that all relevant deadlines are met and the important tests are carried out on time.

Making better decisions with more information

Efficient business management often depends on small details. Machines and tools that are not available or not ready for use can quickly have a significant impact on the workflow and cause unnecessary costs. This is another reason why it is important to store and coordinate information in a central system.

Both smart maintenance planning and digital inventory management can demonstrably contribute to a significant increase in efficiency, optimising processes and saving costs at the same time. These methods of modern management are therefore indispensable in companies that want to be competitive.

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Rohan Mathawan

Content Editor at Techstory Media | Technology | Gadgets | Written more than 5000+ articles about different niches from Tech to online real money gaming for reputed brands and companies. Get in touch Email: rohan@techstory.in For Business Enquires related to TechStory Info@techstory.in

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