Do I really need dedicated software for managing all of my assets and inventory in my nonprofit?
If you are like most nonprofits we talk to, this is a valid question.
After all, you don’t have a massive warehouse or warehouses full of products that you are selling like a retail store.
However, if you are operating at any level of scale, there is a great chance that you have amassed millions of dollars in expensive gear and equipment, including laptops, laptop accessories, camera gear, AV equipment, books, furniture, and more.
Keeping track of all of that is important for insurance and funding purposes (i.e. think government grants). If you are barely managing it or simply using spreadsheets, that’s not ideal.
In this post, we’re sharing some actionable strategies for why you should consider moving off the spreadsheets and using dedicated inventory management software that is designed for nonprofit organizations like yours.
What is inventory management software?
Inventory management software helps nonprofit organizations keep track of all of their assets and inventory at scale. Once you have hundreds of expensive items or are operating from more than one location, it is no longer practical to manage everything from a spreadsheet, pen or paper, or worse internal tribal knowledge.
The best inventory management software is quick and easy to use and doesn’t feel like a chore to update.
What are the benefits of inventory management software for nonprofits?
With many nonprofits operating at a global scale, this means they have likely acquired millions of dollars or more in expensive equipment. Some of which might be hard to replace if it is lost, damaged, or stolen.
For example, most megachurches in the U.S. have a room – or many rooms – full of expensive video production and AV equipment. This gear is being used and loaned out all of the time to staff and volunteers.
That’s where using intuitive inventory management software can be a lifesaver.
For starters, it is a better alternative to clunky Excel spreadsheets. Spreadsheets become unmanageable once you have more than a few people actively updating them and thousands of line items. The loading speeds alone are enough to discourage your team from regularly signing in and out items and updating the spreadsheet. Plus, spreadsheets can’t provide a way to allow staff to reserve or book equipment for future use in upcoming projects or events.
If you want people to regularly do something, it is important the process is as simple, efficient, and streamlined as possible.
Not to mention, spreadsheets don’t have great revision histories, which can open up your nonprofit to human errors, a lack of perceived trust in the “data” you are collecting, and little to no oversight and accountability among your team.
While you can technically run custom reports in your inventory spreadsheet, if the spreadsheet isn’t updated regularly or you don’t trust the inputs, then the reports you create—tracking everything from the number of items to location, condition, cost, and utilization trends— won’t mean much.
Bottom line – the biggest benefit of switching to dedicated inventory management software is that it creates a single source of truth for your nonprofit.
4 use cases for how nonprofits are using Reftab for inventory management
Still not convinced? Here are three of the biggest use cases that we see from our nonprofit customers.
1. Checking in and out equipment
Whether you are loaning out computers, video cameras, or books to team members or volunteers, there are four critical things you need to keep track of.
- Who did you loan the item(s) to?
- What item(s) do they have in their possession?
- When are they supposed to bring the item(s) back?
- Did they bring the item(s) back on time?
This isn’t exactly rocket science. If your nonprofit is still small and you are only loaning out a few items a week, this process is easy enough to keep track of with a simple Google Doc sign-out sheet.
However, once you are loaning out a half dozen or more items each day, the number of items you need to keep track of adds up. It becomes easy for items to go unaccounted for.
An added bonus of using software, such as Reftab, to manage the process of lending out this gear and equipment is that you can use barcode scanners to speed up this process. Instead of having to manually log all of the lending details, the process can be as simple and painless as taking a photo with your phone when an item is checked in and out. And, you can quickly pull up all of the details you care most about, like the location of the item, purchase price, vendor, condition, etc.
2. Location-tracking
As your nonprofit grows in scale and impact, it is likely that you’ll have a main headquarters as well as satellite offices. While this can help with mobilizing crews, it also means that your inventory and assets are spread across multiple cities, counties, states, and in some cases countries.
For example, if your organization sets up hundreds of computer labs for impoverished youth, you may have 10,000+ laptops, hotspots, and computer accessories. All of which are spread out between hundreds of computer labs as well as in your various offices. At this scale, you need a system where you can see all of this inventory quickly. It would be nearly impossible to keep track of all of that if you weren’t using software.
3. Maintenance requests
Going back to our computer lab example, laptops can get lost, damaged, or stolen. All it takes is one student to spill a drink on the keyboard, and the computer is now out of commission. From preventative maintenance to troubleshooting problems when things go wrong (think spilling liquids on your computer), having a portal where you can document issues and log status updates is vital.
4. Tracking consumables
With all the non-profits we speak to, one of the lesser known items to keep inventory on are consumable items. Things like, notepads, tissues, clothing, food, batteries, pens and paper, etc. These items can actually add up and cost an organization a fair amount of money. It’s important to track these items so that you don’t over order.
For example, if you have multiple locations where paper towels are stored, your team can use the Reftab mobile app to log how many paper towels they’re taking out of the stock closet. When it comes time to order more, you know exactly which location has enough that you can take from instead of guessing how much more you need. These items can add-up in cost and it’s important to be mindful not to waste anything if you can.
This F.A.Q guide gives a quick overview of consumable tracing on the Reftab mobile app: https://www.reftab.com/faq/mobile-consumable-transactions/
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In sum, inventory tracking is too important to manage from a spreadsheet.
Want to make this process even simpler with asset management software designed for nonprofits? Try Reftab for free.
