Adding furniture to a space is an investment. Given normal usage (wear and tear), maintaining these assets can seem daunting. However, there are ways to recapture some of those dollars spent and ensure you’re maximizing your assets, simply by tracking your inventory.
There are a number of reasons to track your furniture. First, it’s important to make sure all of the pieces you’ve purchased have stayed within your company and not left the building. It will also support efforts to repurpose existing pieces, since you will be able to identify unused furnishings. In terms of monetary benefits, tracking it can allow you to more easily and accurately depreciate the assets for end of year accounting purposes.
Essentially, there are three primary ways to track furniture:
Depending on which method you choose to use, there are a few best practices to integrate into your asset management approach. Inventory checks should be done on a regular basis, such as monthly, quarterly or annually, depending on your specific requirements. You should diligently stick to the schedule that you establish. Not only is it more efficient, it will also improve the accuracy of the information. Longer, irregular intervals translate to more dollars spent, as reviews can be more time consuming.
To assist companies with furniture management, our team can provide continuous floor plan maintenance services, that can include furniture tracking. This service offers a number of benefits, including asset management, repurposing of assets into alternate space(s) or identifying where specific assets reside within your facility. Our approach will also improve the dexterity of the CAD plans and provide your facilities teams with more accurate floor plans to aid in future planning.