Inventory Management Articles

Universities and colleges spend big chunks of their budget on resources, a recent study shows much of which goes to waste. But is the waste enviable or can it be managed?

Not only do we have more colleges and universities today than in previous generations (given the proliferation of online learning) but there is also a greater need today for organized, foolproof tracking. Regardless of whether you sell educational products or literally oversee the paperwork and online filings of a school, having an inventory management system should be a priority.

The reason being, many institutions still suffer from high instructional material losses. A university staff might feel inclined to simply go on, counting it up to chance or a necessary expense. However, this is bad management practice. In order to maximize a budget and all of its resources, every item must be accounted for, and every leak must be sealed up as soon as possible. Maintaining records is a must for a business, any business, as this helps accountants to reconcile the budget and chancellors/presidents to be able to project for future purchases with confidence.

Did you know that some sources, including Brian O'Connell of Scholars' Academy in Queens, stated that instructional material losses can cost a school millions of dollars in losses, and that's money that comes out of the budget to buy new equipment and new instructional materials? Having fast access and the ability to monitor the school's inventory is a necessity, even if sales aren't your priority.

Another important issue is the fact that many institutions actually operate out of multiple locations, and this makes it difficult for traditional organization programs to accurately track materials.

Help for Education-Centric Institutions

This is precisely why iMagic Inventory has been created and customized for businesses just like universities and colleges that require flexibility and customization for their inventory. This program gives you a full view of all your campus locations, and lets you keep track of inventory scattered in different areas, all under the name of your institution.

Whether you need to track textbooks, research equipment, or even unusual inventory, the software can accommodate you because of its streamlined interface that implements with an invoicing and merchant database system, as well as the rest of your computer for other design elements.

Educational institutions can reduce inventory disappearance, improve productivity among administrative workers, track all materials, receipts and transfers, and create efficient records for review.

Asset Tracking for More Complex Systems

Many schools that run training courses, from the collegial level to even diploma-based seminars, organize their business plans according to fixed assets. You may even create more assets as you expand across the nation, creating more facilities and maybe even more networking consultants.

An automated tracking system will keep you organized regardless of how large and complex your asset system goes. The iMagic Inventory system is not just for sales, but will also help you track all transactions, including shipping and sending, allocate supplies, order more tools and materials (with warnings on low stock levels), and can integrate with ease using a barcode scanner.

This is the ideal program for any educational facility, regardless of its aims or business structure. This is a program that is made for you, and with your unique business challenges in mind. Why not download the free demo now and see for yourself how it works?