Managing the inventory of your company is a vital part of keeping any business of any size or niche afloat, and business owners are constantly looking for ways to reduce these and increase profitability.

Unbeknown to many, managing the goods and materials your company holds through the use of technology is an effective way of streamlining business practice, lowering those all-important outgoings and improving your reputation with the people who matter – your customers. The use of rugged tech in particular can make inventory management much easier, but still the majority of business owners across multiple sectors are unsure about the advantages using tougher tech within their company can offer? Let us take you through how rugged tech can lower your inventory costs for good!

Paperless Order Systems

Improving how you manage transactions within your customer base is an essential part of improving satisfaction and making the consumer journey from selection and checkout to transit and delivery much smoother. The use of ruggedized technology offers a more modern system for you to do business with, especially whilst out in the field. The functions offered by rugged tablets, vehicle mounted computers, laptops and workstations can ensure the sufficient and accurate handling of stock as well as a smoother process when ordering, receiving and monitoring goods and services electronically.

Order and Make Transactions in Real Time

Another function that many rugged devices provide is tracking in real time, which is ideal for businesses that operate within the field and away from their stock. Understanding the manual checking, tracking and reporting of stock isn’t always possible in many industries is essential to managing your inventory and its costs efficiently. The real time tracking features on rugged technology allows you to automate these important processes wherever you are and create an exact process for your customers.

Many rugged models also provide GPS enabled tracking to ensure risk is minimised and the customer experience is increased. This real time tracking not only offers an accurate service for your customers but also an accurate service for your business and its staff members who will be able to reduce the amount of goods lost through human error and manage insurance claims and replacement fees more precisely.

Control Your Own Inventory

Many business owners choose to outsource the management of their inventory to improve accuracy, however, this comes at a cost. By investing in rugged inventory management software, business owners and staff members of all abilities can take charge of their own inventory management processes and eliminate this outgoing immediately. By using vendor enabled management systems via your rugged device you can maintain your inventory from any location, which is great for businesses that have multiple sites. Your inventory system can be managed and updated by staff members across your business, regardless of their office location.

Forecasting for the Future

As well as giving you the tools to control your business’ inventory in the short-term, the use of rugged technology company-wide can also give you the tools you need to forecast for the future.  Forecasting in an important part of maintaining the financial health of any business, whether you are a company just starting out or an established market leader. The features seen on rugged PCs, workstations, tablets and other handheld units are great components for automating this often complicated process.

Teamed with features like real-time tracking and a vendor-managed inventory, many rugged devices use various forecasting models to lower inventory costs and provide a realistic outlook for years to come. The use of forecasting models via rugged tech also minimises the all-too-common problem of human error, seen in many manual business forecasts, and instead gives an accurate account combining current logistics and company targets. The forecasting features found on most rugged devices also references events and promotions from past and present to provide precise future forecasts and helpful hints to manage your inventory more effectively.

Additional Benefits in the Field

As we mentioned briefly, the use of rugged technology is particularly useful with businesses who have field operatives that travel from location to location to deliver your company’s goods or services. Streamlining your inventory management for field staff is extremely important and ensures all customers in your core demographic are delivered a service that is fine-tuned and accurate at every stage of the transaction. Many rugged models also use transit features to handle the most complex delivery dilemmas, such as the handling, merging and successfully delivering goods shipped from separate locations to one final destination.

Rugged tech also provides a durable option as well as a logistics dream for businesses, ensuring efficient handling with minimal risks and lower long term costs. Many rugged devices can efficiently perform in high and low temperatures, in the face of excessive moisture or humidity, and in areas that have a particularly high level of vibration.

Author Bio

Brittany Thorley is a technology blogger, by day, she works for Steatite Rugged Systems developing specialist rugged laptops, tablets, workstations and handheld devices.

Facts are facts, and a seemingly daunting, but potent medicine for the curing of an ailing planet is having less waste and toxins on the face of the Earth, as well as in your body. What’s an easy, fun and green way to accomplish this in your own personal way? There are a myriad of benefits to bicycling, not only for your body, mind and soul, but certainly for the environment as well. Forward thinking, conscientious people across the world have been putting two tires on the streets as a primary means of transportation for a long, long time. The concept and its practice, however, is now really starting to catch fire, and to an extremely trendy, fashionable degree.

Although here in the United States our culture appears to almost entirely revolve around trends, the mass majority of folks still surprisingly seem to be dragging their feet concerning biking. Obviously this isn’t the only beneficial concept that we tend to give the cold shoulder, especially if it involves exercise, discomfort and exerting ourselves. But perhaps this is precisely why developers at MIT created the innovative Copenhagen Wheel in the first place.

Bikes are not only fun, they’re sensible, but there are definite reasons as to why many folks don’t use them for transportation on a regular basis. For instance, biking to work may leave you sweaty, a tad stinky and a bit exhausted depending on the journey. And while biking is a perfect way to rectify it, if you’re out of shape then biking to work seems like an impossible uphill climb. But the Copenhagen Wheel is about to add its two cents to the equation. The simple device easily snaps right onto your bike and performs technological wonders. It remarkably aids in conserving your energy by storing the energy you already use and saving it for when it’s most needed. You’ll feel like your gliding across flat terrain as you power uphill. It’s revolutionary, sleek and simple, and it might just help save your body and the planet.

Image Source: https://www.doodlesfamily.com/sites/default/files/copenhagen.wheel_.jpg

There is an interesting rumor in the market, which says that Microsoft- the software giant is all set to buy the handset business of Nokia and hence would license its patents for around 5.44 billion Euros or 7.2 billion dollars. This deal would change the nature of both these companies, now Nokia being a mobile phone company would transform into network equipment maker, whereas Microsoft Corp. the software giant would enter into a different domain. The official of both the companies are calling this deal as the moment of reinvention. However, the analysts are now very much sure about its prospects, hence this merger of two companies will emerge out a new competitor is really doubtful.

The share course

As per the reports, Microsoft Corp. would pay 3.79 billion Euros to Nokia for its devices unit whereas the remaining 1.69 billion it will pay for the patents.  Nokia climbed as much as 1.44 Euros to 4.40 Euros and would trade 45% higher at 4.30 Euros in Helsinki, which helped the company getting a market value of 16.2 billion Euros. There are certain speculations about this deal, which claims that whether the two companies would weigh each other down or simply prop each other. However, the other recent significant move by Microsoft in the hardware domain with products like the Surface tablet was seen selling out with some below expectations, which means the company will have to take charge to write down inventory last quarter.

After the deal

This deal will change a lot of things. Though the Microsoft Corp. would become a big hardware player, however, Nokia would be seen with a new paradigm shift, wherein it will shift its focus to software and technologies. After the final deal, Nokia has its own plan wherein the company would be focusing over its three current businesses, which all happen to be a pioneer in enabling the mobility in the relevant market segment. The NSN happens to be a pioneer in network infrastructure and services, the second one is HERE, which is a leading group in mapping and location services while the last one Advanced Technologies is among the top group in technology development and licensing domain. Once the deal is closed, the financial position of Nokia is likely to improve, which will eventually help in shagging the future investments of all these three businesses.

The Breakeven Point

Microsoft would require Nokia to sell out around 50 million smartphone devices on an annual basis. Currently Nokia is seen having a run rate of around 30 million units. This agreement would allow the software giant Microsoft to pump in more amount of money of 40 dollars a unit for each smartphone device as compared to the 10 dollars in gross profit, which the company is getting for each and every windows based phone. As per Microsoft, this deal would simply add to their earnings, which comply with the generally accepted accounting principles in the upcoming fiscal of 2016. The company therefore expects to have huge annual cost synergies of around 600 million dollars around 18 months after this deal finally closes. The officials from Microsoft are calling this deal as a win-win phenomenon for consumers, shareholders and the employees of both the players.