How important are accurate inventory counts to your company? Or do customers get to order and pay for products when they are out of stock? UGH. I hate when I’m not notified that a product is on backorder and given a choice before ordering and paying. Or even worse, I’m told several weeks later it’s no longer available, and they will refund my money. Sure, I got my money back, but I wanted the product. I bet you or someone you know hates this too. So how do you decide where to invest in this scenario? Do you invest in improving inventory accuracy and customer experience or securing the company? Valuing technology assets is more than just cost. It's about understanding their role in your business goals and it’s critical for managing resources effectively. Here’s an approach:

1. Define the Problem: What is the role of this asset in your business? Is it driving revenue, reducing risk, or improving efficiency?

2. Assess Capabilities: Evaluate the asset’s performance against your business needs. Is it cost-effective? Are there alternative solutions that better meet your goals?

3. Think Ahead: Technology evolves rapidly, often leapfrogging itself. What is cost- effective today may be obsolete tomorrow. Periodically reassess the asset’s relevance to ensure it aligns with your strategy.

By understanding the value of each asset and mapping it to your business objectives, you can make informed decisions about where to invest or divest. The key is intentionality – start small, focus on critical assets, and continuously adapt as your business needs and technology environment changes.

If you need help getting started, contact RKCManagementConsulting@gmail.com for more information.