QR Inventory v2: One Software To Manage Assets and Inventory

Version 2 of QR Inventory is optimized for managing both assets and inventory in different types of locations.

After accumulating customers' comments for a little bit over a year we recently rolled out version two of QR Inventory software. The new version contains improvements in the following areas:

  1. Allows you to manage both assets and inventory, providing different workflow for each type

  2. Allows for seamless transitions of assets and inventory between different types of locations

  3. Allows you to define what information to store, show, track, record and report using granular custom types and properties

Please, read the article for more detailed description, and as always we welcome your comments on further improving QR Inventory.

Manage Both Assets and Inventory

QR Inventory v2 allows you to differentiate between assets and inventory, providing different workflow for each type.
Assets are unique items that belong to your company. Even if you have multiple items that are the same (e.g. the same type of a computer or smartphone), you still want to track each item individually. As such, stock quantity which is important for inventory is not applied to assets. For items designated as assets QR Inventory v2 eliminates quantity entries. This speeds up check in / check out flow and eliminates human errors that can render one asset to be in several locations at the same time.
Although you are tracking assets as individual items, you probably want to know how many items of certain type you have. QR Inventory v2 takes care of this as well. Reports will show you count and dollar value of assets of each type and each category.

Assets are unique items that belong to your company. Even if you have multiple items that are the same (e.g. the same type of a computer or smartphone), you still want to track each item individually. As such, stock quantity which is important for inventory is not applied to assets.

Inventory (often also referred to as consumables) are items that you do not want to track individually. You are mostly concerned with quantity you have on hand in various locations, how many were used for what, and when do you need to order more.

In asset tracking, the most important questions are Where is it?, Who has it?, How did it get there? and When is it due back?. QR Inventory v2 has this information at your fingertips, easily accessible from all screens.

Inventory (often also referred to as consumables) are items that you do not want to track individually. You are mostly concerned with quantity you have on hand in various locations, how many were used for what, and when do you need to order more. QR Inventory v2 screens and flow is optimized for this purpose. You can easily check stock of each line item, globally and in each location, and drill down to quantity breakdown by properties. For example, you can check where in the warehouse items are located, how many of each size, volume, color, etc.

Setting re-order point, globally and / or by warehouse, allows you to receive low inventory alerts.

Permanent Storage vs Remote Job Sites vs Employees

Shortly after rolling out QR Inventory, we realized that model where inventory goes in and out of the warehouse does not work for many situations. In field service, oil and gas, engineering and other industries inventory and assets are often stored on multiple remote job sites, in the service vans, or witn employees. Therefore, we first introduced different location types six months ago. QR Inventory v2 takes locations management and items transition between locations to the next level.

QR Inventory v2 has four types of locations:

  1. Permanent Storage Location. It can be anything, from a warehouse to a storage room to service van - these are location that are somewhat limited in number, do not change often, and it is practical to maintain a list of these locations. When performing asset or inventory transaction, employee selects this type of location from a list.

  2. Remote Job Site are locations that are frequently changing, are numerous, and it is not practical to maintain a list of them. When performing inventory transaction, employee scans in or enters location name.

  3. Person is a person who can lease, rent or borrow company assets. In terms of transactions flow it is similar to remote job sites.

  4. Employee. Company employee can check out an item to himself, or return an item he had. When performing inventory transaction, he does not need to select or enter anything - the system recognizes him automatically.

When dealing with assets, QR Inventory v2 recognizes current location of an asset - employee who performs asset or inventory transaction does not have to select or enter anything. With QR Inventory v2 you can seamlessly transfer assets and inventory in, out or between locations of any type. Information on inventory breakdown for all types of locations, asset current location and transactions history trail are readily available.

Custom Fields, Transaction Types and Properties

A distinctive feature of QR Inventory had always been its flexibility. From the very beginning it allowed business to define what to track, record and report via the web interface, using custom fields and properties. After getting more experience with real life situations and projects, we revised custom fields and properties in QR Inventory v2 to make them more granular and better fit into various scenarios.

With QR Inventory v2, you can define the following via the web interface:

  1. Custom fields for assets and inventory that can hold any information you require, including images. This information can include item specs, emergency procedures, url to pdf documentation, etc. Employees can access this information in the field by scanning QR Code with a smartphone.

  2. Custom properties for which you want to maintain separate inventory count, such as expiration date, size, volume, etc. QR Inventory maintains count of items for each property, so you can always review quantity breakdown by any of these parameters.

  3. Transaction types. You define what kind of assets and inventory transactions you need, where this transaction moves items (in, out or transfer), and from / to what type of location.

  4. Transaction properties You decide what do you want to keep track of during asset and inventory transaction (projects, clients, job number, notes, etc.). You can differentiate between properties on the transaction level (will be the same for entire transaction), or item level (can be different for each item in the asset or inventory transaction).

You can filter report data by any of the custom fields and properties you created.

Want to test drive QR Inventory v2 and see how it works in real life? Let us know.

 
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