Company Management: How To Keep Track Of All Your Assets

Company management can be challenging for any company. There are so many different aspects to it, and tracking assets is one of the most important tasks. But how do you track your company’s assets? It’s not as hard as you might think! Below are great ways to help you keep track of your business assets.

1. Setting Up A Spreadsheet To Keep Track Of All Your Assets

Set up a spreadsheet to help you keep track of your company’s assets. This will allow you to quickly and easily see what is in each location, who has access, and when it was last used. There are many free online spreadsheets that can be used for this purpose such as Google Spreadsheets. You can monitor your team through software to know of their activities. There are many other tracking applications that can be used to keep track of your assets online, but if you’re not tech-savvy, there are also simple tracking apps available for download on most mobile devices. If you need help tracking down an asset or require more information about a particular item the Asset Panda app will allow you to quickly lookup tracking information for each item.

2. Keep Records Of What You Have On Hand

If you’ve ever lost an asset, then you probably know how hard it is to replace something that isn’t paid for. You can reduce the time spent tracking down missing assets with a good inventory system. You can do this by tracking your inventory across the company. For instance, if you have a warehouse with many items, knowing what’s missing will be easier to track down when each item has an assigned number that shows up in every location it is housed. Have a person responsible for tracking the inventory so that everyone can have a clear idea of where everything should be. Tracking down your assets will take less time and won’t cause any stress for you or your employees because each item has been assigned a number to track it easier.

3. Make Sure That Your Inventory Is Updated 

Don’t forget to update your inventory on a regular basis, even if you’re not actively selling it or looking to purchase more items of the same kind. You never know when another customer might want one! Keep tracking documents for at least three years to keep up with any tax requirements. Make sure that your tracking information is clear and organized so it’s easy to locate a specific item if necessary. Also, organize tracking documents so they’re easy to locate when necessary.

4. Check In With Staff Members Periodically

If there is a specific location where employees can keep track of their assets, make sure they are tracking them in that spot. You can even set up an email that goes out periodically to staff members, asking them to update what they have assigned as their managerial asset. As an employer, you have capable hands to help you in managing the resources at your disposal. Be diligent in ensuring that you have all the reports regarding your properties and assets. 

5. Create A List Of Supplies Needed For Each Department

Make sure you keep an updated list of the supplies needed for each department and that there is never a shortage. If you run out, then your employees will be tracking down what they need from other departments or coming up with their own solutions which can take away time from the production time. Each week create a new list of the necessary supplies for each department and make sure you update it as soon as supplies are running low.