Startup culture has inspired people to kick off their entrepreneurial journey and co-working spaces play a vital role in the establishment of such small scale businesses. Along with providing ample amenities at a reasonable rate, the staff members working at these shared spaces also make sure that all of the inventory is managed effectively to avoid shortage of any equipment and thereby creating a wholesome work environment for every individual utilizing the space. Categorically the inventory is divided into the following brackets – office supplies, kitchen and refreshment items, furniture, toiletries, maintenance tools, IT & audio-visual equipment.
Instead of manually keeping track for inventory in bulk, the easier alternative becomes operating through an inventory management dashboard at hand.
At coworking spaces, staff members are given dedicated roles and responsibilities to effectively perform tasks. An inventory management dashboard is an efficient tool that simplifies the process of maintaining stocks, placing orders, keeping a tab on sales and demand, supplier performance and delivery timelines. The dashboard also helps in notifying the near to expiry dates based on the shelf life of specific inventory items for timely replacements.
Some of the key features are listed below for better understanding of the entire inventory solutions system –
Item Management & Warehousing
This feature helps in categorizing purposefully similar inventory items in groups and bundles with special prices. Simultaneously it can also manage multiple warehouses by shuffling stocks as and when required. The inventory management dashboard also provides an extensive report to get better insights of warehouse management.
Maintaining Vendor Relationships
It is essential to create a price list for vendors and timely update it along with the placement of orders for items required on a recurring basis. An inventory management dashboard generates billing solutions by maintaining a purchase order history which makes it easy to keep a track of the unpaid bills and build a good relation with vendors and suppliers.
Automated Operational Invoicing
One of the best features of the inventory management dashboard includes an automated software system where sales orders get converted to invoices and sent via emails for hassle free tracking of all payments. It also generates packaging slips with the real-time shipping rates.
Action through Analytics
Staff at shared work spaces can set up reorder points on their dashboards for managing each item on their inventory list and getting notified every time something is low on stock and it’s time to place an order. To be clear about the inventory management decisions the dashboard also helps in generating a detailed and neat report which proves to be insightful and analytical. This altogether helps in wise decision-making when it comes to restocking and maintenance of items.
Barcode Scanning Automation System
Point your device at the label and scan the barcode to auto fill all the information into the system. This is an excellent way to save time and avoid any errors. An option to set up workflow rules to update a field makes a complicated process much simpler.
Overall, the above features provide additional benefits for coworking spaces. These benefits include decreasing manpower costs, simple and intuitive Ai that is easy to learn and quick to develop – by unskilled labor. An inventory management dashboard on any software is scan based with UPB integration for complete tracking and individual performance monitoring. Moreover, in today’s digital age co-working spaces prefer pen and paper less procedures. The dashboard allows processing of both B2B as well as B2C orders from the same platform.
When the staff at a co-working space manages the inventory through an extensive dashboard, it increases the pace at which purchase and sales is carried out, stock count as warehouses becomes simpler and thus there is hardly any room left for errors. This eventually helps the coworking spaces to provide all the amenities to the customers, freelancers, startups, employees and various other teams working there. It makes the process of generating timely invoices for tracking payments clear and leads to high efficiency at work.
