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Inventory Management

Inventory Management is the systematic process of overseeing a company’s fleet to ensure that assets are available, maintained, and generating revenue.

Core Components of Management:

Inventory management provides a real-time view of where every piece of equipment is and what state it’s in, allowing you to bridge the gap between your warehouse operations and customer demands.

Core Components of Inventory Tracking

  • Inventory Snapshots: This is your high-level control center. It displays the real-time status of your fleet, categorized into Assets Available, Assets On Rent, Assets On Hold, and Total Active Inventory. 
  • Asset Categorization: Items are organized into Asset Groups based on their type or function. This allows you to manage bulk pricing, environment fees, and technical specifications for hundreds of items at once. 
  • Granular Identification: For high-value items, the system uses Serial Numbers or VINs to track individual units. This ensures you know exactly which specific machine is at a job site and which one is in the shop. 
  • Stock Types: Inventory is further divided into Rental assets (intended for temporary use) and Sales items (intended for permanent purchase), ensuring your financial and warehouse records stay distinct. 

Operational Logistics

  • Branch Locations: Assets are assigned to specific physical sites. If a customer chooses Will Call, the system points them to the correct branch for pickup. 
  • Internal Transfers: To balance your inventory across different regions, Transport Tickets are used to track the movement of assets between branches. 
  • Bundles & Kits: For complex jobs, the system allows you to create Bundles, which are predefined groups of assets rented together as a single package to simplify the booking process. 

Use Case Example

A branch manager at a heavy equipment company needs to fulfill a large order for five excavators. By checking the Inventory Snapshot, they see that while three are Available on-site, two are currently On Hold for a reservation that starts tomorrow. To meet the customer’s needs, the manager initiates a Transport Ticket to bring in two additional units from a nearby Branch Location, ensuring the order is fulfilled without overbooking the fleet. 

 

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