The Difference Between Inventory Management and Asset Tracking

SEVERAL KEY WAYS THEY ARE DIFFERENT AND SIMILAR

WHAT BEST SUITS YOUR COMPANY’S NEEDS?

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WHAT IS THE DISTINCTION BETWEEN INVENTORY MANAGEMENT AND ASSET TRACKING?

How is inventory management different than asset tracking? In several key ways. Inventory management focuses on monitoring parts and products companies have moving in and out of their stores, and asset tracking focuses on keeping track of items an organization needs to function properly.

DIFFERENCES

Businesses use inventory management software to replenish their supply of products they plan to sell to customers. Government bodies and nonprofit organizations use an asset tracking system to control their supply of internal tools and materials, rather than a flow of products coming in and going out. The inventory management or asset tracking tools they use reflect the differences in their needs.

SIMILARITIES

Both inventory management and asset tracking help groups effectively use their resources. The goal is to optimize their operations, even though their operations are very different. Companies and nonprofit organizations want to cut costs, save time and make the best use of their budgets.

Inventory management and asset tracking have many similarities and differences. To find out which solution is right for you, get a free trial of Fishbowl Inventory by filling out the free trial form.