New Download: Telecom Inventory Management Myths

Managing fixed and mobile telecom assets is no small task. Not only can it prove challenging to locate where resources are, what they do, and how much they cost, but unoptimized and inaccurate telecom inventories are also common, and can result in additional expense as you pay for services that may not be needed.

A deeper understanding of the telecom inventory can help reduce unnecessary costs, which is why undergoing a telecom inventory management project that helps with the procurement, planning, and forecasting of telecom assets is beneficial. 

While many people assume that performing a large-scale telecom inventory management project is impossible while managing the existing day-to-day workload, this is a misconception that stems from five telecom inventory management myths, including:

• You must start with a physical inventory.
• It can wait – it’s important but not urgent.
• Inventory updates are only needed sporadically.

How Should I Start?

Often a telecom inventory management project begins with a physical inventory. In fact, we find that the majority of businesses we speak to believe the project must start this way. But this can actually result in wasted time and resources, because you already have reliable sources of data. Location lists, network plans, contracts and customer service records are all authoritative sources of information that can prevent an arduous physical inventory. This is the fastest path to recovering savings from historical and ongoing billing overcharge.

How Urgent Is It?

A recent Cass survey revealed that 43% of IT executives view telecom inventory management as “a necessary evil”, while 40% said it’s an area needing improvement. The reality is the longer you wait to adopt a full lifecycle telecom inventory management process, the more time and effort will be required. Furthermore, if you don't get your inventory in good order you do not necessarily know the size of the overcharges that you have been paying, even with EDI invoice formats.

How Often Does It Need To Be?

Sporadic, intense telecom inventory "clean ups", in place of ongoing management, are another commonly made mistake. It is important to perform telecom inventory management on a regular basis, alongside every move, add, change or disconnect (MACD).

Belief in these myths leads to common mistakes that can easily be avoided with a proactive and efficient telecom inventory management. To find out more about the five myths and learn from the mistakes of others, download 'Telecom Inventory Management: The Five Great Myths'.