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Streamlining Inventory Process with Technology

Learn how to optimize your inventory process using technology such as scanners, tablets, barcodes, and RFID. Discover the benefits of automation and improve accuracy, accountability, and efficiency.

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Streamlining Inventory Process with Technology

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  1. Using Technology to Streamline the Inventory Process Sean Pugatch, AssetWorks Sean.Pugatch@assetworks.com1-512-347-7400 ext. 1865

  2. Introduction:Have an Inventory Plan

  3. Methods of Conducting an Inventory • Wall-to-Wall Inventory • Inventory by Exception • Inventory by Random Sample

  4. Wall-to-Wall Inventory • An inventory of ALL items in a given location. • Systematic approach • Time-consuming • More accurate than some methods (especially if automated).

  5. Inventory by Exception • Counts items that have been “touched” recently as already inventoried. • Saves time and effort • Can miss new items • May still need to supplement with wall-to-wall inventory.

  6. Inventory by Random Sample • Inventory asubset of assets, identified by a statistically valid and random sample. • Greatest opportunity for saving time / $$ • May be less accurate than desired All Assets Sample

  7. Using Technology in the Inventory Process • Scanners and Tablets • Barcodes and RFID • Overall Benefits

  8. Scanners and Tablets • Both effective ways to automate inventory • Can increaseaccuracy and accountability • Provide real-time results when synced w/database • Can improve processes for all types of inventory

  9. Scanners and Tablets: Additional Considerations • Does the device need to work offline? • Will there be good lighting in all areas? • How much battery life will I need? • What is the read range for the device? • What accessories are available?

  10. Barcode Tags and RFID:Some Common Misconceptions of RFID • 1. RFID will eliminate the need for physical asset verification • 2. RFID will allow me to inventory assets from a long distance • 3. RFID will eliminate the search for assets in the field

  11. Barcode Tags and RFID:Understanding Types of RFID • Active RFID ($$$$) • Continuous internal battery • Larger in size • Store up to 128 kb of data • Read/Write capability • Applications: vehicles, military, livestock, pharmaceuticals • Passive RFID ($$) • No internal battery – powered by energy emitted from reader • Smaller in size • Store up to 128 kb of data • Read/Write capability • Applications: consumer goods, inventory, books, smart cards

  12. Which is best for inventory? • Battery: Tag only needs to emit frequency when prompted by a reader. • Size: Though human readable capability is required, the smaller the better. • Data Storage: Asset ID ties all current asset details to a master profile. Storage size becomes a non-issue. • Read/Write:Tags will be used simply for asset identification purposes. Write capabilities are not necessary. • $: Cost can make RFID implementations unattainable. Passive RFID Tags

  13. Barcode Tags and RFID:Understanding Types of RFID • High Frequency RFID ($) • Store large amounts of data • Very short read range • Secure communication • Applications: libraries, textiles, documents, healthcare • Ultra High Frequency RFID ($$) • Store small amounts of data • Longer read range • No secure communication • Applications: warehouse management, pallet identification, inventory, healthcare

  14. Which is best for inventory? • Data: Only record asset ID. No need for large amount of coded data. • Read Range: The longer the read range the better. • Data Security: Sensitive data will not be stored in the RFID tag, therefore secure communications is not an issue. • $: Cost is a major consideration, but read range is necessary. Ultra High Frequency RFID Tags

  15. Barcode Tags and RFID: Use Both for Exceptional Results • RFID • Difficult to reach assets • Difficult to reach asset tags (hidden, high) • Assets that should not be handled • Assets that are highly mobile • Barcode Tag • All other equipment

  16. Benefits to using Technology in the Inventory Process • Save time and $$ • Increase accuracy • Increase accountability • Simplify reconciliation

  17. Thank you! Any Questions? _______________________ Contact Information: Sean.Pugatch@assetworks.com1-512-347-7400 ext. 1865

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