Frequently Asked Questions:

Can you fulfill any type and size physical inventory?
What kinds of items can you count?
What type of technology do you use to conduct a physical inventory?
How do you adapt to my specific requirements?
How do you determine the cost of an inventory?
Will your counting activities disrupt my business operations?
What are your acceptable error rates?
How do you warranty your work?
Regarding bar coding, what type of labels do you use and can I decide on the size, color, etc.?
What types of inventories have you performed and in what environments?
What do I get from you when the inventory is complete?
If I find errors from the inventory how do you respond?
Who conducts the inventory, is there someone in charge?
Can you reconcile inventory count information with my pre-existing asset information?
What is RFID and how can RFID help me?
Can you provide references of your past performance?
Submit your question here.

Q: Can you fulfill any type and size physical inventory?

A: Yes. We have performed physical inventories for as few as 500-1,000 assets and as many as several hundred thousand. We place no limitations on the scope of an inventory or the location.

Q: What kinds of items can you count?

A: We can count any type of asset. Past examples include: furniture, artwork, computing, audio/video, kitchen appliances, security gear, cameras, telecommunications, electronic office equipment, building fixtures, HVAC, tools, maintenance, vehicles, test equipment, test chambers, biomedical, instruments, weapons, satellite-tracking equipment, supplies, stockroom items and warehouse items.

Q: What type of technology do you use to conduct a physical inventory?

A: We use our data collection software coupled with technologies such as bar coding, radio frequency identification tracking (RFID), voice recognition, digitization, imaging and weighing scales. We also use hand-held portable equipment for data recording, scanning and printing.

Q: How do you adapt to my specific requirements?

A: Our software is completely driven by user-definable operating parameters. We define those parameters to meet each client’s specific needs. For example, fields of data to collect, label size, information to appear on a label, auto-generation of asset ID’s and asset tag numbers, location codes, asset categories and sub-categories and department codes to name a few.

Q: How do you determine the cost of an inventory?

A: We use a planning template. We send this template to you electronically. It describes our capabilities and asks a series of questions designed to assist us to understand your needs. Using your responses to these questions (which you can send back to us electronically) we provide you with a fixed fee for the project.

Q: Will your counting activities disrupt my business operations?

A: With the proper planning, and expectations set, the answer is no – call for details

Q: What are your acceptable error rates?

A: The industry average is between 10-15% dependent upon the type of physical inventory being conducted. We devise mutually agreed upon error rates with each client prior to the start of the project.

Q: How do you warranty your work?

A: We certify the results and will guarantee to be within pre-agreed upon error factors. If we exceed those then we will recount at our expense.

Q: Regarding bar coding, what type of labels do you use and can I decide on the size, color, etc.?

A: We offer both thermal transfer and direct thermal transfer labels. The material the bar code labels are made of varies although we recommend vinyl due to its durability. You can choose the type, material, size, type of adhesive, color as well as what is to be displayed on the bar code label.

Q: What types of inventories have you performed and in what environments?

A: We can conduct open, or closed inventories, within warehouse, stockrooms, standard office environments, laboratories, computer facilities, secure areas, remote areas, test environments, hospitals, libraries, storage facilities, school systems, and many more. We have conducted inventories for companies and government agencies in the following categories: insurance, law enforcement/legal, transportation, education, healthcare, R&D, technology, engineering, communications, among others. Our customer reference page can provide you with a more comprehensive list of customers.

Q: What do I get from you when the inventory is complete?

A: You will receive, cleansed and reconciled inventory data in whatever format you request (and/or pre-loaded into our software product repository). You will be given our asset management software including our data collection/physical inventory software, complete user training regarding using the tools and conducting physical inventory and necessary hardware to be used for future inventories as well as support for the first year. Our intent is to adequately prepare each client to be capable of sustaining reliable fixed asset information on an ongoing basis and to be able to conduct future cycle counts and physical inventories on their own if they choose to.

Q: If I find errors from the inventory how do you respond?

A: We review your findings, provide reasonable answers to your findings or, if we cannot provide reasonable answers to your findings and we are outside the range of the pre-agreed upon acceptable error rate, we will recount at our expense.

Q: Who conducts the inventory – is there someone in charge?

A: We use our inventory specialists to conduct all counts. They are experienced professionals who are easily recognizable by their company uniform and name badge which are worn at all times. They are divided into teams. Each team has a team leader and a seasoned Inventory Controller, who has ultimate responsibility for the project, governs all teams. Our people are screened and we are fully insured to work in highly secure areas.

Q: Can you reconcile inventory count information with my pre-existing asset information?

A: Yes, and we often do. Our engineers create small custom reconcile modules that we use at the conclusion of each inventory to conduct a reconciliation on your behalf. We do not charge any additional fees for this effort. We also have the ability to use your other sources of asset information to augment the inventory count data and to integrate our product with those other systems for your ongoing asset management use.

Q: What is RFID and how can RFID help me?

A: RFID is short for Radio Frequency Identification. RFID is comprised of electronics, which communicate via radio signals. RFID components consist of transponders (similar to a bar code label) that affixes to an asset, a portable hand-held reader (similar to a bar code scanning gun) which detects and reads the signal from the transponder and fixed antenna, which acts like a reader only it is fixed at a permanent location.

When the reader, or antenna is close enough to a given transponder (or vice versus) the reader or antenna excite the transponder causing it to emit a signal carrying the id of the transponder back to either the reader or antenna. The main difference between this type of technology and bar coding is that using RFID you don’t have to see the transponder in order to detect and read it. The transponder can be hidden or embedded in the asset. The difference between the reader and the antenna is that the reader detects the transponder signal and stores that result either in the reader or in a computer that the reader is attached to. The antenna will detect the same transponder signal and transmit that signal down you LAN/WAN to a server where our software can obtain the information and use to update criteria such as change of location.

Q: Can you provide references of your past performance?

A: Yes, available on request.

If your question was not answered, submit your question to info@lockwoodtechnology.com.

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