Lack Of Inventory Awareness In The IT Industry

The IT industry entails the movement of several parts. It’s hard to keep track of all the different technologies and products on the market, let alone manage their inventory. However, in order to stay competitive in this ever-changing industry, businesses must clearly understand their current state of inventory.

Unfortunately, many companies lack awareness of the current inventory landscape and are struggling. Here are some issues associated with inventory management in the IT industry and some tips to improve your company’s inventory awareness.

Key Issues Related to IT Inventory Management

Several key issues can impact IT inventory management, which may include the following:

Lack of Standardization

With so many different types of products and technologies on the market, it can be difficult to establish standardized processes for tracking and managing inventory.

Rapid Obsolescence

The pace of change in the IT industry is incredibly fast. As a result, products and technologies have a short shelf life and can become obsolete quickly. This can make it challenging to keep track of inventory levels and ensure that accurate records are maintained.

Complex Supply Chains

The supply chain for IT products is often complex and global in nature. This can make it difficult to track where inventory is located and how it moves through the supply chain.

Foregoing Automation

In many cases, companies are still relying on manual processes to manage their IT inventory. This can lead to errors and inefficiencies in the system. Therefore, it is important to consider automating inventory management processes whenever possible.

Dependency On In-house Resources

In many cases, IT inventory management is completely reliant on in-house resources. This can be problematic if those resources are not properly trained or equipped to handle the task.

Tips For Improving Your Company’s Inventory Awareness

There are a number of steps your company can take to improve its inventory awareness, including:

Invest In Data Visualization Tools

Data visualization tools can help you get a clear picture of your current inventory levels and trends. This will give you a better understanding of where you need to make changes.

Utilize IoT Devices

IoT devices can be used to track inventory levels in real-time. This will allow you to quickly identify when stock is running low and needs replenishment.

Use Technology Expense Management (TEM) Software

TEM software, such as Clearview can help track and manage your inventory of technological equipment. This will ensure that you have the right amount of inventory on hand at all times.

How VALICOM Can Help

VALICOM uses Technology Expense Management (TEM) software, such as Clearview, to help you understand and manage your inventory. We provide a full range of TEM services, including:

·       Asset Management

·       Inventory Management

·       Contract Management

·       Billing & Invoice Audit

·       And More

We can also help you develop a customized solution that meets the specific needs of your business. Our team of experts can help you understand and manage your inventory so you always have the right amount of technological equipment on hand. Contact us today to learn more about our TEM services!

ABOUT THE AUTHOR: Jeff Poirior

Jeff brings 25+ years of telecommunications and information technology management experience in voice and data networking, server support, and telephony and security; with a significant emphasis on customer service. Prior to joining Valicom, he was chief of the infrastructure support section for the Wisconsin Department of Transportation. Jeff was the vice president of operations for CC&N, overseeing telecommunications, help desk, data, and desk side support services. Prior to that, he served as the associate director of technical resources for Covance, responsible for managing systems and network operations supporting 1700 users in Wisconsin and Virginia. He has also led data center operations at Magnetek Electric, supporting mainframe systems, client/server applications, telephony systems, and computer-aided design. Jeff holds a bachelor’s degree in business administration from Cardinal Stritch University and a master’s degree in business administration from the University of Phoenix. In addition, Jeff is a past board member of the Wisconsin Telecommunication Association.