Successfully operating a hypermarket calls for the efficient coordination of multiple business operations. They range from inventory management, maintenance to auditing. For each of them to perform smoothly, they rely on assets. A hypermarket has assets like furniture, billing equipment, refrigerators, desks, facilities, IT equipment, etc. These resources have an impact on the revenue hypermarkets. If they are properly managed, revenue increases. If not, the vice versa occurs. 

Hypermarket assets require an effective solution that can track, maintain, allocate, transfer and dispose of assets. Ultimately, they will help maximize return on hypermarket assets. In this article we shall take a look at why it’s important to manage hypermarket assets, what are its challenges, why traditional asset management doesn’t work anymore and how hypermarket asset management software is the best solution to do the job.

Why is it important to manage hypermarket assets?

Hypermarkets harbor an extensive range of assets. On being used on a daily basis, they deteriorate in condition. Moreover, hypermarket assets tend to move around the facility a lot. Without a good asset management strategy in place, the condition of whereabouts of assets can go neglected. Consequently, it will cause the hypermarket to incur more costs and face operational delays. 

The lifecycle of assets must be managed right from the time they are acquired until they are disposed of. Its advantages include:

• Prevention of steep depreciation in asset value

• Reduced expenses and increased savings

• Asset compliance

• Higher customer satisfaction

• Enhanced operational efficiency

• Improved revenue

• Better asset utilization

• Uninterrupted operations

What are the challenges of managing assets in hypermarkets?

Although there are several advantages that come with using a good asset management system, there are numerous challenges in managing the assets. They include:

• Knowing what is available in the inventory

• Assessing what additional assets need to be purchased

• Identifying operational bottlenecks

• Plugging financial leaks

• Cutting down on wastage

• Identifying ghost assets

• Locating assets

• Arranging and allocating assets

These challenges can be overcome in a number of ways. The most popular solution today is to use a hypermarket asset tracking software. In spite of its benefits, many hypermarkets still continue to use traditional asset management methods. We’ll tell you why they are an inferior solution.

Why do traditional asset management methods not work anymore?

Before the advent of automation-capable software solutions, spreadsheets and paper-based methods were the go-to asset management methods for hypermarkets. While they were once effective solutions, they are no match for today’s business scenario. Manual asset management methods are rapidly disappearing from use. They not only lack the functionalities that modern software solutions provide, but they also hamper productivity.

Errors like typos, oversights and duplicate entries make traditional asset management methods unreliable. Such discrepancies can do more harm than good. That is why entrepreneurs are increasingly preferring to implement inventory tracking systems for hypermarkets.

What is a hypermarket asset management software?

A hypermarket asset management software is a digital inventory tracking solution. It allows entrepreneurs and asset managers to efficiently track essential asset details in real-time. The software contains a wide range of features that can be used to maintain, audit, allocate, transfer and dispose of assets in addition to tracking them. It provides business owners with a centralized control over each and every hypermarket asset. 

What does an inventory tracking system for hypermarket do?

Hypermarket asset tracking systems help minimize costs and enhance returns. They accomplish this objective in many ways. Dedicated asset management applications automate the process of recording assets, thereby boosting accuracy and eliminating any room for errors. Furthermore, they keep a check on what is available in the inventory, what is not available, what assets are used the most, what assets are nearing service dates or expiry and more. Finally, asset tracking systems provide comprehensive insights to improve asset utilization.

By using the cutting-edge features built into the software, you can easily stay compliant, ensure that assets are working all the time and are always available when you need them.

Conclusion

Poorly maintained hypermarket assets can weigh down business prospects. They incur unexpected expenses and slow down operations. Whereas hypermarket asset tracking software solutions accurately track and record all asset-related activities. These applications pave the way for effective asset maintenance and informed decision making. Get SmartAMS - the most bought hypermarket asset management software from SmartPoint. Maximum return on your hypermarket assets today.