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Author Archives: Jay Schofield

How to Use Various Methods of Asset Depreciation

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At its core, the concept of depreciation is simple: When a business buys a fixed asset, a long-term asset used in the production of inventory, which is then sold for a profit, it commits to keeping the asset on their books and in their tax returns for years to come. The cost of the asset must be allocated over the ... Read More »

7 Important Inventory Metrics for Your Warehouse

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Setting goals is important for your small business to grow. As you start setting objectives, you may be tempted to look at other successful businesses and copy what they’re doing. Resist that urge! No ideal “one-size-fits-all” metrics exist. Even if a company is similar to yours, each operating environment is unique and its metrics may not fit your business requirements. “Always ... Read More »

10 Reasons Why Barcode Asset Tracking Software is the Perfect Solution

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Asset management or tracking software, like many tools that are used to increase employee productivity, is often overlooked by small businesses looking to achieve revenue growth. When it comes to revenue growth, the 2015 State of Small Business Report revealed most small and medium business owners want to focus solely on customer service and retention. Only 20% said they would ... Read More »

How to Improve Your Business Fixed Asset Auditing Process

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Novice business owners may not think much about their fixed assets, long-term assets that are used in the production of inventory and income, beyond purchasing them. These assets, which are often the largest investments a company makes and cannot be easily converted into cash, must be monitored throughout their useful life, for financial, logistical and legal reasons. In the past, simple ... Read More »

Why Inventory Tracking is a Gift During the Holidays

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3 Holiday Warehouse Challenges And How Inventory Control Helps Before summer is even over, retailers around the world gear up for the upcoming holiday season, and it’s little wonder; the National Retail Federation (NRF) projects that U.S. shoppers will shell out nearly $600 billion this year for Christmas gifts alone. If you’re a savvy small business owner, you’ll do what ... Read More »

Improving Small Business Time and Attendance

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Improving Small Business with Time and Attendance Can you think of an issue hotels and laboratories might have in common… something vital in the success of each business? In fact, vital in the success of all businesses?  Two very different companies implemented the same system that solved all of their time and attendance troubles. You can do the same. Running the Same Race in Different ... Read More »

What You Need to Know: Fixed Asset or Inventory Management

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Though they are both occasionally referred to simply as “assets” on a company’s balance sheet but inventory and fixed assets are very different. They require different management systems in order to keep a business organized and running smoothly. Depending on the needs of your company, you may have to decide what kind of asset management software is most important to integrate ... Read More »

How the Army Took Control of their Assets

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  Arguable the most powerful army in the world, spending $577 billion per year, stacked with superior airpower and a carrier fleet larger than other country’s entire navy, one would think the United States has asset management under control. Contrary to popular belief, while this army is out on the battlefield they’re losing the true war against asset management. Or ... Read More »

How Firemen Improved Asset Management Practices

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For years, volunteer fire departments have struggled with employee and asset management issues, not posing an issue for profit but simply challenging their continued existence. Here are some helpful tips on how volunteer fire fighters have successfully extinguish asset management emergencies.  It’s safe to say one of the most important emergency services operating in each city or town is the volunteer fire department. ... Read More »

The Impact of Mobility in Manufacturing

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How Mobile Technology Improves Operations for Manufacturers Mobility has been on the move since the first cordless phone call was placed in 1973. Employees from all industries across the globe depend on their smartphones, tablets, laptops, GPS-enabled devices, wearable, and mobile apps to keep them connected 24/7. According to Forrester, the number of “anytime, anywhere information workers, those who use ... Read More »