Build Accountability through Inventory Control
Build a Culture of Accountability in Your Organization Accountability is critical to the long-term success of any business since it decreases inventory loss, boosts profitability and increases profit margins. Without accountability, your employees may not be as diligent with company assets, or even fail to follow the most carefully devised business plans. There are several ways to develop accountability within your organization, including designating employee roles, defining expectations, developing strong teams, setting deadlines, building strong relationships with employees, and utilizing systems, such as inventory management software. Develop Accountability through Inventory Traceability One of the key ways to implement accountability is to execute an inventory management system with an item-level traceability feature, such as TRXio. CEDIA, an international association for the technology industry, conducted a study to find the potential and actual loss from the misplacement of inventory items by installers. The findings were alarming, revealing that each installer typically loses or misplaces approximately 6% to 10% of their inventory and assets on an annual basis. This kind of employee negligence can be avoided by implementing simple accountability measures through inventory control. An inventory control system with item-level traceability gives the ability to track the movement of an individual item from its origin to the end of its useful life, allowing managers to know exactly where an individual product is at any given time and who is handling it. This increases accountability for every employee who comes into contact with it, ultimately reducing loss and theft. TRXio TRXio can help you foster an organization-wide culture of accountability through inventory management. TRXio includes a “vista,” or a dashboard that displays metrics such as “Number of Orders Filled/Number of Orders Assigned,” which is designed to promote accountability.