What is the difference between inventory and an asset?

Assets are items of value that you want to track closely, such as computers, printers, phones, vehicles, office furniture, specialized equipment or tools, and associated documents such as manuals, contracts, and invoices. With Tracmor you can create a complete history of each time an asset is moved, checked in or out, shipped, or received throughout the asset’s life.

Inventory, on the other hand, includes items that are used once or last only a short time, and are also referred to as consumables. Such items do not need to be tracked closely, but knowing the quantity on hand is valuable so that they can be reordered. Examples of inventory items include office supplies such as staples, notebooks, and markers, perishables of any kind, and items that are used only once, such as bandages or disposable tubing. Not all companies need to track consumables, but the inventory tracking option is there if you need it.

The type of tracking available in Tracmor for assets is greater than the actions available for inventory. For instance, you can reserve assets, check them in or out, and archive them, but these features are not available for inventory items.

Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.
Powered by Zendesk