Harness the Power of Wireless Inventory Management in 4 Easy Steps

Updated: Mar 1, 2018

Imagine you’re leaving the house for work, when you accidentally spill coffee down the front of your shirt. Do you:

A) Purchase a new shirt to replace it, or B) Soak the stain and put on another shirt from your closet?

Regardless of how much disposable income you have, option B makes the most sense. Why purchase a new shirt if you have a closet full of perfectly good shirts waiting to be worn?

Effective wireless inventory management programs follow the same principle. Unfortunately, many organizations fail to utilize existing assets, needlessly spending on new devices while perfectly good ones sit unused in storage.

Inventory tracking and assignment is a process that has traditionally been managed manually, or through asset management tools that exist in silos. As employees leave and join the company, devices often get lost in the shuffle, with one department buying new devices when another has excess.

Implementing an effective inventory management program can extend the device's useful life span from 16 to 24 months, and effectively reduce capex spend by 33%!

If your organization is in the process of prioritizing inventory management, consider these four key points to maximize the value of your company’s existing wireless fleet:

  1. Pass it On When an employee leaves your organization, what happens to their device? Chances are, the device remains in good working order, and therefore, it makes sense to find the device a new owner. Choosing first to recycle devices from within the organization before procuring new ones is one of the most basic ways to save CapEx on wireless spend.

  2. What’s Your Number? In many cases, it is not the cost of the physical device, but the carrier plan that represents the greater cost. When an employee turns in their phone, the carrier will continue billing the phone number per the contract, regardless of whether the device is being used. In this respect, each new carrier contract is a liability, often with a sizeable fee required for cancellation (in many cases more than $400[1]). Here, it is also worth taking into consideration both the cancellation fee, and any device subsidy included in the original purchase price. Where the cancellation fee is greater than the subsidy price (say, a $0 phone with a $400[1] cancellation policy), it is beneficial to place the phone number on “vacation disconnect” and flag the line for any new employee that requires a device.

  3. Moving Up Upgrades represent another opportunity for significant cost savings. An efficient inventory management system allows administrators to match up device upgrades with the individuals who can best use the technology, while passing along the older device to other team members who do not require the additional functionality. Keep in mind periodic upgrades are a feature that you pay for in your carrier plan, and they therefore represent an excellent way to maximize the value of your contract.

  4. Track Record Above all else, increasing the efficiency of your organization’s inventory management necessitates the keeping of detailed, up-to-date records, tracking device usage and inventory currently sitting in storage. It is virtually impossible to maximize savings through inventory management while keeping records manually. Spreadsheets simply won’t cut it. Instead, to truly begin reaping the benefit of efficiently managing your device inventory, you’ll need a centralized system that tracks real-time data, up to the minute, across your entire organization.

Simply Efficient Device Inventory Management Simplify Wireless is a platform that increases visibility on all facets of an organization’s wireless program, including inventory management. Our system can integrate the repair and recycling process directly into your workflow, documenting repairs, and placing used devices back in circulation quickly. When devices have been turned in, we can ensure that they are securely wiped, and the remaining value realized before it’s too late.

To begin harnessing the power of efficient device inventory management, book an info session today for a complimentary wireless audit. --------

[1] Avema, “A Holistic Approach to Managing Wireless Costs”, http://www.avema.com/whitepapers/holistic-approach-to-managing-wireless-costs.html


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