How Higher Education Industry use inventory management? How automation helps them?

How Higher Education Industry use inventory management? How automation helps them?

A University Inventory Management Company: Now That’s Smart

The word “university” may not come to mind when you consider the kinds of entities who could benefit from the services of an inventory management company. But higher education is very much a business. Colleges and universities house and sell inventory throughout their respective campuses – for example, in the bookstore, student union or even off-campus retail store. Institutions of higher education also manage inventory in their dining halls, dormitories, health clinics, offices and campus maintenance centres. The opportunity for more effective management is significant. Inventory is likely to be among a university’s largest assets. Carrying too much or too little inventory can negatively impact an institution’s bottom line. It’s a fine balance that, in all honesty, is too much for any individual or group of individuals to manage day to day. To do it right, you need an inventory management system.

Unfortunately, many universities continue to rely on out-dated, manual systems to track and manage their inventory. Excel spreadsheets are the most common practice among this group. It’s nearly impossible to track with accuracy the value, condition, whereabouts and other data of your inventory using a manual process. Why? The data is constantly changing, and humans make mistakes. Whether it’s a missed keystroke, duplication of effort, an oversight or some other error, those slip-ups happen.

A university seeking an inventory management company would be wise to consider a solution that’s easy to manage yet powerful, customizable and flexible enough to adapt as technology continues to evolve, and as the university’s needs change in the future.

Inventory management system eliminates the headache associated with manual data entry and ongoing maintenance, and eliminates guesswork, errors, and wasted time and money. At any time of day or night, you have in the palm of your hand the entire lifecycle of your entire inventory, including an item’s location, condition and value. Inventory management software empowers you to make sound financial decisions about your inventory. Zoom in or out, examine trends and issue reports among your stakeholders.

Regardless of the technological proficiency of your staff, there are some very simple and intuitive inventory management systems, completely customizable, enabling you to organize and display your data in the way that makes sense for your educational institution. Integration with legacy systems is easy. And the app is flexible enough to incorporate new technologies as they become available in the future.

The higher education industry is changing at a dramatic pace. Numerous trends are at work influencing this rapid change such as, population demographics, work force requirements, global competition and new higher education de livery methods. One additional and fortunate trend is that higher education is a growing industry. Industry incumbents, whether public, private, non-profit, or for-profit must constantly scan the competitive horizon for positive as well as negative structural changes to the industry.

The importance of higher education is hard to overstate. Going to college enables individuals to acquire the knowledge, skills, and abilities they can leverage to improve their economic prospects and their quality of life. These benefits extend beyond the individual to communities, as college graduates tend to be more civic-minded, and are more likely to volunteer, read newspapers, and participate in public life. The relatively higher salaries of college graduates can even stimulate the local economy.

The time, money, and influence of the higher education industry enable these actors to advance their own ideas through regulatory and legislative channels. While these goals are not always out of sync with the altruistic reputation the higher education community has cultivated, it should not be surprising that when the needs of students and colleges conflict, many schools are putting their own interests up front.

Inventory management and asset management are so important to educational institutions, schools and the educators employed by them should be aware of the best practices associated with inventory and fixed assets. To help those schools and educators become more informed about inventory and asset management, we have rounded up our top picks for inventory and asset management resources. Our top inventory and asset management resources for schools and educators are made available by industry leaders and experts in the field, so that educational institutions can be assured they are getting the most accurate and up-to-date information.

Automation in Higher Education Inventory Management

Automation is a growing trend in inventory management. Among other benefits, automation increases efficiency, improves accuracy, and is scalable to company growth. It has proven to be effective for many organizations ranging in size and complexity. Despite this benefit, many companies are still hesitant to adopt an automation system. They think it will take too long to implement, cost too much, or it just isn’t their priority right now. However, implementing automation now can prepare an organization for a successful future.

Inventory Management system can provide different functions in Higher Education industry.

  1. Department Staff
  • School and department staff is more efficient using mobile barcode scanners to issue and receive inventory as well as perform physical inventory
  • Educators can also generate useful reports by department based on quantity, location, stock numbers, equipment type, description, and more

 

  1. Facilities Management

  • The facilities manager can use the barcode system desktop app or mobile app to generate purchase orders, sales orders, and inventory or asset reports
  • Track assets such as video, audio, and IT equipment, with barcode tags. Asset maintenance can also be managed via scheduled email or text alerts

 

  1. Administrative Staff
  • School administrative staff can quickly and accurately check out and in audio and video equipment, project equipment, and iPads to students to improve school accountability
  • They can even use iPhones, Android smartphones or tablets to access Passport when walking around colleges or universities

 

  1. System Administrator
  • Passport for education is great for system admins that need immediate access to the most up-to-date financial reports in real-time
  • School management can see the current condition of assets, where they are located, who has them, and more

Barcode-based Inventory and Asset System for Education

Inventory Management Systems offers colleges, schools, districts, and universities an automated inventory management and asset tracking system that can be configured to fit the specific needs of schools of any size. The barcode-based system can track varying asset types – faculty, staff, lab computers, printers, audio equipment, video equipment, workshop tools, materials, and library books. Our education inventory management system combines wireless barcode scanners, RFID technology, configurable reporting, check out-in capability, and much more to give schools and universities an easy-to-use and powerful inventory and asset management system. Ultimately, organizations within education use Automated Inventory Management Software because it helps save precious time and money.

 

 

Reference

https://www.camcode.com/asset-tags/inventory-management-for-schools/

https://www.researchgate.net/publication/254351314_A_Strategic_Assessment_of_The_Higher_Education_Industry_Applying_the_Porter%27s_Five_Forces_for_Industry_Analysis

https://www.newamerica.org/education-policy/edcentral/the-higher-education-industry/

https://www.assetpanda.com/an-university-inventory-management-company-now-thats-smart/

https://www.asapsystems.com/education/

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