This blog post will cover everything you, as an office supplies manager, need to know about office supplies inventory management.
Unless carefully managed, office supplies can add up to significant costs. Every department from accounting to human resources to facilities needs them, and there is no shortage of vendors who can provide them.
Unfortunately, most offices do a terrible job of managing their office supply spend. They end up with way too many pens and not enough paperclips, or they have a dozen different kinds of staplers.
By the end of this comprehensive read, you will have a grasp of all the best practices used by organizations globally in managing their office supplies and how you can incorporate them at your office with the help of a robust office inventory management template.
A well-managed supply chain can improve employee satisfaction, minimize workplace disruptions, and enhance the quality of the workplace. It is necessary to replace supplies frequently since they are not renewable.
Managing office supplies requires consideration of both internal and external factors.
Office supply management relies heavily on technology and information handling systems that need frequent updating to ensure maximum efficiency.
With this guide, you’ll be able to manage your office supplies like a pro. Follow along to learn how.
What is Office Supply Inventory Management?
Office supply inventory management is the practice of keeping track of your workplace’s supplies and ordering replacement ones when necessary.
It is an essential component of keeping an office running smoothly.
The need for effective inventory management arises from the fact that office supplies can be expensive and difficult to track.
Do your employees have to go out of their way to buy tape or paper because you’re low on stock? That’s a waste of both money and time.
Effective inventory management means knowing exactly what you already have on hand so you can order only what is necessary.
Key Steps to Manage Your Office Supplies Inventory Efficiently
Here are some key steps you should follow to manage your office supplies inventory. You need to keep them all in mind to have effective control over your office supplies inventory.
Assign a person to manage office supplies
Choosing who will manage your office supplies is the first step in setting up your new office. If this task is unclear, you can expect disruption throughout the office. Assign a responsible person to supervise your office supply inventory.
The person should be dependable, have management’s support, and have some knowledge of office supplies used in the workplace.
Select someone with exemplary organizational skills and who can establish a system to monitor inventory levels. This process will help to ensure you are not paying for more supplies than needed and reduce the risk of running out at a critical moment.
The responsible individual should also be able to work with your supplier and understand how you intend to handle special order items or products that are not in stock. This person can become your liaison with the supplier and provide guidance on purchasing decisions.
Once you establish who is responsible for managing inventory, you need to ensure they have access to information on what you are spending on supplies.
Create a master list of office supplies
Another key step is to create a master list of all the office supplies you have.
This will help you know what items need to be ordered, when they need to be ordered and how much of each item is needed. It will also help streamline your ordering process, saving you time and money.
The list should be created by people who are aware of the day-to-day operations of the business. The list should include everything from paperclips to pencils and pens, staples, toner cartridges, ink cartridges, copier paper, printer paper, sticky notes, mailing labels, and envelopes. Any item that is regularly used by your staff should be included on the master list.
You will also want to record where these items are located as well as when or how often they need to be replenished.
Use inventory management software, spreadsheet, or custom template to maintain your list
You can use a tool like Microsoft Excel or Google Sheets, expensive inventory management software, or a highly customizable inventory management template for your specific needs to create your spreadsheet and customize it however you need.
Once you have your spreadsheet or template open, it’s time to think about how to organize the information in each column (or “field”) so it makes sense for your purposes.
Here are some fields that everyone should include:
- Item name
- Item type
- Item price
- Item quantity
- Item location
- Vendor or supplier name and details
- Reorder point
By maintaining a solid database with all the relevant data about your current stock of office supplies you can easily see what you’re running low on and what needs to be ordered.
Organize your office supplies according to their use
Organizing your office supplies inventory is an important part of keeping the office running smoothly.
If people can’t find what they need, it slows down their progress and affects everyone’s productivity.
However, if you manage to get everyone on board with a more efficient system, it will soon become second nature—and you’ll never have to be frustrated with your office supplies again.
The following tips will help you organize your office supplies and get everyone involved:
- Clean out old and expired products.
- Find containers that fit the size of your office.
- Label everything with a name or number for easy retrieval.
- Share the inventory list so that everyone knows what’s available and where things are stored.
- Keep a track of returns to avoid losses.
Set up reorder reminders based on available inventory quantity
When it comes to office supplies, one of the most common mistakes is not ordering more until they run out.
If you’re tired of dealing with this, it’s time to set up a simple, effective way to remind yourself when it’s time to reorder. This method is setting reminders for when your inventory falls below a certain amount.
In the system of your choice, enter the number at which you want to be reminded.
This way you will get an alert when supply levels are low, so you can replenish before it’s too late.
Now you can enjoy not having to worry about running out of office supplies ever again.
Place your orders and record supply purchases
Be sure to keep an organized record of all your office supplies orders so that you can always know what you have and what you need.
When placing an order, always make sure to get approval from management as required.
Revise your office inventory needs periodically
Management at companies needs to start viewing office supply purchases as investments and assess their return on investment (ROI).
To do this, we recommend you practice revising your office inventory needs periodically.
As usage changes and new products come out, it may be time to restock with items that will better meet your needs.
For example, if a lot of projects are coming up that will require a certain type of product or service, consider buying in bulk so you’re not short of supplies during an important time.
You can also create a separate chart for low-use items vs. high-use items.
Closing Remarks for Better Office Inventory Management
Keeping a stock of office supplies can be tedious and confusing.
However, it’s a necessary evil for every business owner.
You have stuff you need to be restocked, no matter how big or small your business is, from broken pens to blunt knives, lost report cards to empty toilet rolls.
No matter if you have few or many office supplies, inventory management is important. If you’re lucky enough, you probably have an employee who’s fully devoted to the task.
However, if you’re responsible for office supplies inventory management as a side job, we hope this guide and the custom template we have shared will make your life much easier.
Check out this video walkthrough of the custom template that you can easily configure to manage your office inventory.