Inventory Management for Education Institutions
E-ISG Asset Intelligence has been helping many colleges, and school districts to solve their unique challenges in inventory management. The eQuip! asset management and asset tracking software, including eQuip! Mobile on smartphones and tablet devices, is designed to support inventory management for education institutions.
Many education institutions receive federal grants are required to manage the equipment (capitalized assets and controllable assets) to meet the requirements in Part 74.31-37 of 45 CFR (Code of Federal Regulations).
Challenges in Managing Physical Inventory for Education Institutions
- Keep up to date information about the location, condition, and usage of physical assets
- Track equipment on loan, remind the users to return
- Track equipment chain of custody and enforce accountability
- Conduct annual inventory – audit, reconcile, and report
- Meet the reporting requirements from federal funding agencies on equipment inventory record and inventory audit
- Support accurate documentation of assets for insurance coverage
- Establish business continuity and disaster preparedness plans
Benefits of the eQuip! Enterprise Asset Management solutions
- Maintain a complete and up to date list of assets, from furniture, vehicles, to IT assets, including “where”, “what”, and “who” information
- Facilitate electronic record keeping for equipment loans and auto generate email reminders for equipment returns
- Standard and customized reporting
- Mobile application on iOS, Android phones and mobile scanners to support easy audit
- Track the maintenance on capital equipment
How can eQuip! Improve Inventory Management for Education Institutions?
- Manage Physical and IT Assets: track what, where, and who has the assets
- Keep accurate equipment records with the required asset information: description, manufacturer’s serial number/NSN, ownership, acquisition date and cost, condition, disposition data
- Report up to date asset inventory by location
- Tracking funding sources of equipment, single award or multiple awards
- Support inventory audit using mobile phones and scanners, with audit reports for reconciliation
- Provide reports on any loss, damage or theft of equipment
- Provide maintenance records on equipment
- Support asset disposal requirements
- Support audit requests from federal and state funding sources
- Support asset record requests from insurance providers
To learn more about how eQuip! provides inventory management for education institutions, watch this short demo of eQuip! in action.