Managing party rental inventory can be challenging, especially when stock levels grow. A wide range of items must be tracked, from tables and chairs to linens and cutlery, and they all have different tracking needs. Effective inventory management helps party rental businesses to reduce costs, prevent losses, and ensure customer satisfaction.
Party rental businesses need to track stock because it helps avoid double bookings, prevent overbooking, and ensure all items are available for a scheduled event. However, not all equipment needs to be tracked the same way, so it makes sense to use different tracking methods. Large items can be tracked individually, while small items can be tracked by quantity.
You can also improve the accuracy and efficiency of tracking with barcode scanning. This allows you to scan items in and out of your inventory to ensure customers receive the correct equipment. Plus, using them with proper tracking method implementation makes detecting issues and reporting losses and damages easier.
Keeping track with tracking methods
Generally, you have two choices in how you track equipment; you can track items on an individual level or by quantity in bulk. Each method serves a different purpose within your rental inventory, so choosing the right one for your products is essential. This decision will primarily be made depending on the size and type of items you want to track.
It is recommened to track large items like furniture individually as they are usually much more valuable and finite in stock. This will allow you to give each item its unique identifier that can be tracked easily. For example, you can check the status of individual items at a glance and get historical data about who rented the items. This makes it much easier to make people accountable.
Meanwhile, it is recommended that lower-value items you have in large quantities, like cutlery, are tracked in bulk. These items can be tracked by volume because they are easy to replace or add additional stock to in your inventory. Plus, you don’t need to know which spoon a customer has received, just that they have received the correct number according to what they have booked.
By differentiating how you track different types of products, you can make inventory management more efficient and accurate. Tracking large items individually means you can reduce loss and damage while tracking small items in bulk saves you time as you only have to think about quantity. This will help streamline your party inventory management.
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More accurate tracking with barcodes
Barcodes can add an additional level of accuracy and efficiency to your inventory management. You can create a barcode for each item and scan it when it is rented or returned. This can help you save time and reduce errors, as the information is automatically updated in the inventory management system without manually updating stock levels.
For items you want to track individually, you can assign a unique barcode to scan them in and out separately. This is necessary for high-value items you want to be very careful about tracking. For items you want to track in bulk, you can assign a barcode to the top-level product. This allows you to scan them and enter the number quickly returned, rather than having to scan them separately.
In Booqable, you can easily add barcodes to items with the mobile app. by searching for a product, selecting a stock item, scanning the attached barcode, and assigning the barcode. You should print your own barcodes or order custom barcodes online. Then you can attach them to all the items in your inventory and assign them within the mobile app.
You can then use the mobile app to scan items when you check them in or out. This allows you to use your existing devices to improve inventory management rather than investing in barcode scanners. This has substantial cost benefits and ensures you can start with barcodes quickly to see the accuracy and efficiency improvements in your inventory management.
More effective inventory management
Streamlining inventory management involves regular audits, consistent tracking, and proper organization. Inventory audits can help you to identify any discrepancies or issues with your inventory. Consistent tracking methods can ensure accuracy and reduce errors, while proper organization means that you can find and access items quickly.
Effective inventory management is crucial for the success of party rental businesses. By implementing tracking methods and barcodes, businesses can improve efficiency, reduce costs, and ensure customer satisfaction. As an party rental business owner, you should implement effective inventory management strategies to improve your operations and grow your business.
