The audio-visual business is challenging. Our industry has many pitfalls, but few can get a company in trouble faster than inventory mismanagement. And it’s not a giant leap to say audio-visual companies live and die by their inventory management.
In an industry where clients constantly squeeze profit margins, overordering can mean the difference between an unprofitable and a profitable project. Yet, I’ve seen teams order items that are not necessary for jobs because of a lack of communication and process. This disorganization hurts the bottom line.
Also, not knowing where your gear is leads to headaches and a lighter wallet. When teams don’t have a good way of tracking inventory, they will be in for a surprise on pull day when the needed parts aren’t available.
At this point, it should be clear that a team that doesn’t manage its inventory and purchasing process will miss deadlines and have budget overruns. Ignore your inventory management at your peril. Simply put, bad management equals hurt margins.
Now, I want you to take a minute and think, “How do I manage my team’s pull lists and job purchase requests?” Let me give you a slight hint. If you are using Excel, you’re doing it wrong.
FindBoxes was built to help organizations control their inventory. Its features include project management tools, supplier lists, item custody, pull lists, equipment wishlists, and more. FindBoxes can help any audio-visual business, large or small, streamline its operations. I invite you to try FindBoxes for 30 days at no cost, and no credit card is needed at sign-up.
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