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Events Planning: 3 Key Features of an Effective Inventory Management Software

Choosing an inventory management software is hard, especially if you’re new in the industry, and you still don’t know what you need. If you’re one of them, then worry no more. This article will guide you so you won’t make a mistake when choosing the right software.

As an event planner, there’s a long list of things that you need to do to make your event successful. Most of the time, the large items can overshadow everything on the list. Your list probably includes table settings, venue, seating arrangements, flowers, music, AV equipment, etc. But for you to get all of these in order and into the venue, it’s important to have a method so you can keep up with them. As an event planner, your inventory of the list of everything you need (for each event) is the key to the success of those events. This is why inventory management software is important to every event planner.

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Why do you need an inventory management software?

Now that there are so many options event planners have in terms of asset tracking, there are key features you need to look for. These features will help you plan your events easier and ensure that they will be a success that people will never forget them.

Managing an event effectively isn’t easy. Every event requires a great deal of planning regardless of the size or scope. A minor oversight can negatively impact your event. An event planner needs to be flexible in dealing with the needs of his or her clients, the inventory management software should also be flexible in handling the tracking and reporting needs of the planner. If you know your organization’s key goals before planning, you can ensure that every part of your event is optimized for success. You need to get the best suppliers, food, decor (chairs, all kind of fabrics like bulk lace table runners) technology etc.

Today’s asset management software can help event planners in managing the planning, sales, marketing, and post-event analysis. And thanks to customized reports and mobile planners, event planners can now have access to data about the items in the inventory and the availability or usability status for an event instantly.

Because event planners are usually on-the-go, cloud-based apps can give planners the freedom to move from one place to another, and still be able to access the information about the items in the inventory, regardless of their location.

What are the 3 key features of effective inventory management software for events planning?

Check-in and check-out status

Each event requires different items, so you need the software to have a reliable way to check-in and check-out items in your inventory before and after the event. If you need an item for an event, meeting, conference, etc., and you don’t know what you already have, then you’re wasting your time looking for them, or even buying items that are probably just misplaced.

If you have a reliable method to check-in and check-out the assets, then you will be more responsible, efficient, and reliable for your items. You can use data to track how your clients use your assets and identify if you need to get more items or replace your items, depending on their usage.

It’ll also help you and your planning team to know what items are available and when they are available. This way, you won’t need to double-book items or promise items to your clients that are probably not available, just because you don’t have access to your equipment.

Dealing with insurance

There will come a time when your piece of equipment will go missing after an event or get damaged beyond repair. For event planners, every piece of equipment is valuable – because they maintained, used and paid for them.

If an item goes missing and you need to call insurance, you need to make sure you have all the necessary details about the item. These important details should be easily accessible and up-to-date. Inventory management software records the entire lifecycle the moment it enters your database. For insurance purposes, make sure you have the following information available:

  • The item description
  • The make or model
  • Is the item new?
  • The serial number or product number
  • The date and location where you purchased the item
  • The estimated value

Inventory management can help you update your list as frequently as needed. This way, you’ll have the necessary information when it comes to reporting the item. This will help you when you file an insurance claim.

Preventive maintenance

Busy event planners are aware that even the most durable equipment can wear down, especially if clients use it over and over again. Equipment, just like us, will need a break every now and then. Sometimes, you just need a quick upgrade on your equipment, while at other times, you may need a major repair. But as a planner, you don’t want to be caught without your most important and reliable equipment, either.

Inventory management of all your assets can keep records of the items in your inventory, and how each is being maintained. The items in your inventory should last as long as possible, not just until the end of the next event. With the help of preventive maintenance tracking, you’re able to save money and time. Scheduling service and maintenance for each item in your inventory will give you the ability to track the unavailability of the items that are under maintenance. You’re also able to track the service costs over an item’s lifetime.

Event planning is more than just planning for an event. It’s also about being able to know what items you have, where they are, and ensuring that they are in good condition at all times. These are all necessary for your event to be successful. The need for inventory management software for event planning can make a huge difference. It doesn’t only improve customer satisfaction, but it also improves your performance as an event planner.

Thanks to the continuous advancement of technology, event planners like you have the opportunity to easily track your assets to better serve your clients. When choosing an inventory management software, make sure that it has all these features to ensure the success of your events and to gain more clients.

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