Rental Inventory Software

Optimize rental inventory to maximize utilization, efficiency, and safety

 

Effortlessly manage your equipment rental inventory—whether serialized or bulk. Source, store, track, schedule, maintain, and reuse your equipment optimally with Rental Inventory Software embedded in Microsoft Dynamics 365 Finance and Supply Chain Management. 

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G2 rating STAEDEAN Microsoft Dynamics 365 ERP Solutions

Managing equipment rental inventory

Managing inventory is the backbone of any rental business, as it ensures operational efficiency and financial stability. As an equipment rental company, you might handle serialized items, bulk equipment, or a mix of both in the inventory. With a complex blend of offerings, tracking and locating your inventory is crucial. 

An effective Rental Inventory Software optimizes resource allocation, minimizes downtime, and maximizes utilization rates by tracking equipment availability, location, and condition. It enhances customer satisfaction, reduces double bookings, and boosts revenue for your business. You can strategically plan equipment maintenance to extend fleet lifespan, lower repair costs, mitigate accident risks, and safeguard compliance and reputation. 

Key Challenges

Inaccurate inventory data
Difficulty in tracking equipment availability leads to double bookings, customer dissatisfaction, and revenue loss.  Without accurate inventory data, you struggle to allocate resources effectively, resulting in underutilization and missed revenue opportunities.
Higher maintenance costs
A lack of proper inventory management leads to maintenance delays and increased equipment wear and tear risk. Missing servicing deadlines results in ad-hoc or increased repair expenses and prolonged downtime.
Inability to track equipment
Not knowing where your equipment is currently located—in a depot or a customer site, undermines operational efficiency. Lack of tracked inventory could also result in non-compliance with safety regulations and industry standards, exposing you to legal liabilities. 

Key Features

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    Manage serialized and bulk inventory

    Improve equipment scheduling for serialized and non-serialized inventory using the on-rent and off-rent dates or real-time warehouse operations. You can use flexible options to check the availability of fleets, assets, and business objects based on specific parameters.  

    Monitor equipment availability

    With end-to-end visibility into equipment availability, status, and location, you can minimize service gaps to schedule rental orders. Accurate information about equipment inventory helps anticipate demand, improve operations, and enhance customer experience. 

    Conduct timely maintenance

    Rental Inventory Software securely preserves records of your equipment's maintenance history on the cloud. Register and monitor your equipment maintenance and set up counter-based or time-based maintenance plans for each piece of equipment. 

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    Benefits

    Improve planning and scheduling

    The graphical plan board in the Rental Inventory Management Software offers details on customer requirements in a centralized area to streamline planning and order fulfillment.

    Maximize equipment utilization

    The software ensures your assets perform optimally by focusing on quality, performance, and availability to bolster revenue and improve overall equipment effectiveness. 

    Reduce maintenance expenses

    Preserve working capital and eliminate process inefficiencies with strategic maintenance scheduling to extend equipment lifespan, lower repair expenses, and minimize downtime. 

    Optimize resource allocation

    With Rental Inventory Software, you can get information on spare parts needed, equipment availability, and personnel to optimize resource allocation and reduce double bookings. 

    Maintain equipment ownership

    The real-time tracking and monitoring feature within the Rental Inventory Management Software facilitates better asset management and reduces the risk of lost or misplaced equipment.

    Enhance safety and compliance

    Access to accurate inventory data within the software enables regular maintenance and safety checks, ensuring regulatory compliance and reducing the risk of liabilities. 

    Features

    Inventory Counting

    Inventory Counting

    View, count, and analyze inventory for different legal entities using periodic rental counting. Block specific operations, such as scheduling and delivery, to prevent negative stock.  

    Long-Term Scheduling

    Long-Term Scheduling

    With insights into business object availability and equipment on-rent and off-rent dates, you can predict future equipment availability and plan your inventory for the long term. 

    Service Execution

    Service Execution

    Maximize the uptime of your rental equipment by executing timely maintenance and servicing on-site or off-site using the Rental Inventory Management Software.

    Resource Management

    Resource Management

    Schedule the spare parts, sub-parts, and any additional components or consumables you need using 'material requirement planning' to ensure the job starts on time. 

    Work Order Management

    Work Order Management

    Generate work orders, manage tasks, and create quotes using graphical dashboards to plan and schedule equipment for service, delivery, or transport. 

    Frequently asked questions

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    Do you support standard items (consumables) in combination with rental equipment/objects?

    Yes. You can combine rental assets (equipment/objects) with standard items in one rental contract and easily sell the consumables as part of the main rental object. For instance, you can rent a crane and individual consumables such as brake shoes or crane cables. The Rental Inventory Software allows you to build rental kits or bundle packages often rented together. This also makes it easier for your customers to rent out all the required equipment from one place at competitive prices. 

    What inventory management methods do you support? 

    With flexible viewing options, you can check the availability of fleets, assets, and business objects based on specific parameters for a particular duration. You can view, count, analyze, and plan your stock with our Rental Inventory Software based on the following: 

    - Rental on-hand: the rental contract/ commitment to the customer/ on-rent and off-rent dates
    - Physical Rental Quantity: the real-time warehouse operations/ system date and time

    Depending on your preference, you can set up functionalities within the software to gain greater control over your inventory and maximize asset utilization. 

    How do you manage serialized and bulk rental inventory? 

    With serialized rental inventory management, you can monitor high-value equipment or tools requiring unit-level tracking. It leverages scanning technologies to ease the inventory management process. Tracking each item's usage, maintenance, and repair history makes it easier to identify issues, schedule necessary maintenance or repairs, and identify lost or stolen items, reducing the risk of theft. 

    With bulk/non-serialized rental inventory management, you can monitor large volumes of inventory movement based on the total amount ordered and account for it by units of measurement in weight, height, or number. You can ship, pack, and rent products together in large quantities. You can also categorize equipment by type, size, and usage to track which equipment is available for rent and which is undergoing maintenance. 

    Can I use my own search criteria to find assets in the inventory? 

    Yes. Our Dynamic Field Management enables you to set up your search criteria per asset group without any dependency on coding or development. You can easily add frequently asked fields like maximum height, weight, fuel type, date, and checkboxes to offer maximum information to your customers. 

    Resources

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      Sales-Driven Solution in Dynamics 365 F&SCM Factsheet

      Maximize cash flow, manage diverse revenue streams, and improve global customer relations using the AI-enabled, adaptable solution for your rental and sales needs.
      Download Whitepaper
      Factsheet of STAEDEAN Sales-Driven Solution in D365

      Service-Driven Solution in Dynamics 365 F&SCM Factsheet

      Easily manage multiple revenue channels by handling equipment rentals, sales, and services to an international clientele using our AI-enabled, adaptable solution.
      Download Whitepaper
      Factsheet of STAEDEAN Service-Driven Solution in D365

      How to handle complex pricing in equipment rentals

      Read the whitepaper to discover how you can manage complex pricing variables and set flexible rates to remain competitive and maximize revenue.
      Download Whitepaper
      How equipment rental enterprises can manage strategic pricing

      A Guide to Manage Your Global Equipment Rental Fleet

      Uncover the hidden costs of poor global fleet management and how to eliminate them with deep dives into the financial and operational impact of the right software.
      Download Guide
      A guide to global fleet management in the equipment rental industry

      Serialized vs. Non-Serialized Inventory: Challenges of Equipment Rental Companies

      Eric Van HofwegenEric Van Hofwegen
      Apr 24, 2023
      See the differences and challenges in managing serialized and bulk equipment and how rental software can simplify inventory management.
      Read more
      Challenges and management of serialized and non-serialized equipment rental inventory

      Physical Rental Quantity in DynaRent for D365: Analyzing Inventory in Real-Time

      Maarten KalfMaarten Kalf
      Mar 27, 2023
      Find out how to use real-time warehouse operations to analyze and update your equipment rental inventory and increase planning accuracy.
      Read more
      Physical rental quantity in DynaRent for Dynamics 365

      Rental Inventory Management Using DynaRent for Dynamics 365 F&SCM

      Marta OrzechowskaMarta Orzechowska
      Apr 17, 2023
      Say goodbye to all your inventory management challenges using a single software solution in D365 F&SCM to analyze, plan, schedule, and manage rental inventory.
      Read more
      Inventory management in DynaRent D365 Finance and Operations
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