An equipment inventory is a detailed report and record of things in a person’s or company’s possession. It is a survey of goods and materials in stock during a period of time. An equipment inventory is used by the businesses to access and calculate the number of equipment present and the physical condition of these items either placed in the storage or is being used for day to day use in the company’s entity. The list also tells about the date of purchase and its depreciation with time.
A typical equipment inventory list consists of:
- Name and the serial number of equipment.
- Location of equipment.
- The number of equipment.
- Date of purchase of a certain item.
- The condition of working items.
- Date and quantity of re-ordering equipment/tools to be ordered.
In this modernized era, the use of an equipment inventory list cannot be neglected. The tool is used in:
- Farm equipment inventory list.
- School equipment inventory list.
- Bank equipment inventory list.
- Restaurant equipment inventory list and many more.
File: Excel (.xlsx) 2007/10
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Uses of equipment inventory list:
The uses of the equipment inventory list cannot be neglected, and it is being used by almost all the civilized and well-structured organizations and businesses. The tool can benefit in the following ways:
- It assures the company about the items they already have in their stock.
- It shows which items need to be replaced by organizations.
- It tells about the items which are no longer in use or not in working condition and needs to be replaced.
- The tool tells the management about the presence of a stocked back up equipment if the main equipment stops working.
- The management calculates the present condition of the equipment used on a daily basis for office work or manufacturing process.
- This tool saves the company from overspending on the tools that are of no use or already present in the stock.
An equipment inventory list is a vital tool for the smooth running of any company. The tool is designed according to the company’s structure and budget and hence it varies from company to company. The one that fits the company is the best equipment inventory tool for it. The tool helps in cutting down the costs and increasing profits. Saving money is important for the survival of any business especially the small ones.
If you’re a business you will know how important it is to have an equipment inventory list. If you don’t run a business yet but are planning to in the near future, you will for sure need an equipment inventory list. To make an equipment inventory for your business, you will need an equipment inventory list template.
An equipment inventory list template happens to be very comprehensive but at the same time, it is also very easy to use although recording or keeping a track of equipment inventory can be very complicated. Due to this, most inventory templates have separate sheets or even sections for different purposes.
For example, there will be a separate one for assets and their serial numbers, another one for the description of the item, where it is stored, the condition it is in and so on. Different templates may also have different sections or sheets, for example, the age of the item or equipment, its value, when it was purchased, how much was paid and how much has to be paid, etc.
Therefore, an equipment inventory list makes it very trouble-free for you to look at all the inventory that your business is holding, using or selling. Making an inventory list will give you a clear picture of all the different equipment you have and when you need to upgrade them and so on.. as it shows a list of all the equipment you have from the oldest to the newest ones.