Inventory Reporting & Its Impact on your Business’ Bottomline

Avoiding the cost of inaccessible office supplies

There are tangible and intangible costs due to inefficient inventory management, which we covered in our last post, Save Money with an Inventory Management System.  In the same vein, inaccessible office supplies are an unnecessary and avoidable drain on business profitability and performance. But thanks to a cutting-edge dispensing solution like iVendTech from IDS Vending Solutions, this can be avoided. 

Ensuring the continuous supply of necessary assets to those who need them in a secure manner has never been this easy. It allows IT support teams to spend their time addressing strategic IT needs of the business instead of store-keeping. Self-service does not only reduce effort but also gives the consumer the experience of instant resolution.

IDS’ office IT vending machine is proof that we help businesses keep their employees happy (and productive). A completely integrated self-service solution that employees can access and operate 24/7. The office supplies solution helps IT and office management departments to ensure availability of all assets, prioritization of procurement, and easier access for employees with a seamless record-keeping system for consumption, procurement, and demand data, among others. 

There are two major types of dispensing for IT and office supplies.  On-Demand Dispensing caters to small and medium products and merchandise. It is best suited for applications like collecting broken items and providing basic consumables. The other type is the Will-Call lockers, which addresses the demand for higher dollar or sensitive data office supplies. This is suited for items like mobile phones, tablets, laptops, etc. Essentially, iVendTech’s portfolio of machines are configurable to dispense products of different sizes and shapes. So, businesses must invest in fewer machines that cater to diverse needs while maintaining a single source of truth that gives controlled access to analytics and intelligence.

Secure Inventory Management and Control

iVendTech uses a combination of onboarding and cloud software to track, manage and monitor inventory consumption. The machine communicates with the back-end iQ Technology software, a secure encrypted channel. This gives 24/7 visibility and control to not just the machine but also the inventory. This also helps evolve from a centralized asset storage and distribution framework that could become unwieldy to multiple points of storage with the same if not better tracking and accountability measures and systems in place

Combined with alert systems, these range of dispensing solutions can trigger reorder level notifications amongst a host of other possibilities. Last but not least, the reverse dispensing mechanism can track returns and provide accountability data.

Comprehensive Real Time Reporting

Continuous availability of resources is necessary to ensure uptime. Meaningful insights like low stock warning, notifications for a particular type of product/resource, alerts about product abuse or hoarding and restock lists can help deploy a solution that solves your inventory challenges. This data can be accessed on any device with the necessary access privileges. It helps different stakeholders gain actionable intelligence and make informed decisions.

Guaranteed Delivery

iVendTech’s machines use the proprietary Guaranteed Vend Technology, iVend. This ensures that every time an employee accesses the machine, they get the product or merchandise they need. The IR-based drop sensors make sure that either every completed transaction is tracked, and every incomplete transaction is reversed. This, combined with the alert system, can also enable a closed loop feedback mechanism for every failed transaction so that no need goes unaddressed.

Impact of controlled dispensing

Such features of iVendTech’s portfolio of machines help optimize cost of inventory and deliver a host of benefits. Some benefits are discussed below.

Cost savings

iVendTech’s controlled dispensing can bring in savings at various levels. Having access to the right supplies at the optimum levels for the right folks who need them can optimize inventory. This means businesses will need to buy less, hold less, maintain less, repair less, retire less, recycle less and waste less. There are savings across the entire asset lifecycle for different functions like IT, administration, facilities, procurement and finance. The cost savings from uptime, fewer unplanned outages and better productivity are just the icing on the cake.

Productivity improvement

Availability of the necessary tools to get the job done is a critical part of employee efficiency. iVendTech’s dispensing solutions ensure that your employees are never short of critical supplies. In the case of breakdown or repairs, iQ Technology can collect and track assets while giving real time visibility to asset lists. Its configurability allows handling multiple varieties of merchandise and caters to a huge spectrum of needs across the business.

Employee motivation

Timely access to resources, a safe and secure support mechanism that helps collect and repair faulty devices while ensuring trackability can remove a lot of frustration associated with the day-to-day operations. It reduces wait times, brings in transparency and enhances accessibility to the required supplies easily. This can help drive productivity, success and eventually the motivation of the office workforce.

Employer brand boost

Custom branded iVendTech machines can remind your employees how their employer invests in creating an easy-to-work environment. It helps build the right kind of reputation for a business that values its employees and their time.

iVendTech machines are an asset for inventory management in the modern office environment. It helps reduce shrink in the form of wastage or hoarding. It helps improve productivity and drive employee experience. If you would like to understand how we can help your business make significant cost savings on your inventory and enhanced employee experience, call us at 1-877-771-4446.