The event 360 blog

16
Feb

Take Time to Take Stock

By Rene Tamayo

As we are in the middle of intensive planning for the upcoming event season, I’d like to reflect on the prior season and highlight four great reasons for emphasizing post-event clean-up and inventory as crucial elements to the success of your overall event.

Over the years, my team has become a major proponent of taking the time and effort to ensure that we do a thorough job of inventorying our event assets post-event. Some may consider this a burdensome and time-consuming task. It may be tempting to put it off until another time after a long and exhausting series of events finally concludes. You may say: Maybe it can wait until the following year? Maybe we can do it right before the next event season?

In my opinion, completing this work directly after you complete your event season will provide significant and unique benefits.

1. It ensures you have an accurate and up-to-date inventory list of all assets that you used out on the event, as well as a complete inventory of items that you have stored in your warehouse. A current and complete asset list contributes significantly to the operational success of your event in the coming season. It provides a clear picture of what your event owns and what is available to be used in the coming season – critical for both operational and financial planning and budgeting. You will know what you need to add/purchase and what materials you can use to address planned event operational elements. In addition, you never know what unexpected situations can occur at your warehouse…a theft…a flood…a fire. Having a thorough inventory listing will be a critical component in filling out police reports and insurance paperwork in order for you to replace the items.

2. It allows you to evaluate and re-think how your purchasing and inventory levels worked throughout the season. In years past, I can remember being so frustrated with the amount of stock that we would have left over that was never used on the event. Most frustrating were the items that were year specific and could not be used the following season. Being able to see this clearly will provide you with key statistics and rationales to develop improved ways to plan and purchase your inventory for the following season.

3. It assists in paring down the overall stock required to be stored in your warehouse. Over time, inventory that does not make it out or is returned after your current event finds its way to the back corners and top shelves of your warehouse. Outdated collateral and equipment continue to pile up and seem to be forgotten. Over the years, you will pay for warehouse space that you do not need. Make it a priority to purge what you can. Look to your vendors and other outlets to sell and get that inventory off your hands.

4. It provides an opportunity for your team to debrief on your event season’s inventory and operational protocols. This is probably the most important reason of all. The time you spend with your team members, cleaning and organizing, will be invaluable. As you are working, new ideas and protocols will be discussed, allowing your team to find more efficient and effective ways to execute these protocols the next season.

In short…take time to take stock. It pays off in time, money and efficiency and in the end, it will be well worth your efforts.

Rene Tamayo brings to the Event 360 team more than 12 years of experience in the event business. As the Event Execution Manager, he oversees all aspects of the event production including staffing, management and execution of the event series.

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