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Business Inventory Checklist


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Business Inventory Checklist Creating a business inventory is one of the most important activities of effective business continuity planning. It lets a commercial organization count its business assets and organize all inventories into a structured list. Use the following Business Inventory Checklist to learn how to carry out this activity.

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 1. Creating a Business Inventory in 7 Steps.

  • Step #1. Review premises.

Use your computer to develop a spreadsheet listing all the rooms within your business location. The spreadsheet will include your office, storeroom, bathroom, facilities, conference hall, and other rooms.

  • Step #2. List items.

Go into every room with this document and start listing all the items you see in the room. Furniture, appliances, artwork, equipment, stock, stationeries etc. are several examples to be added to your inventory spreadsheet.

  • Step #3. Specify each item listed.

Now add pertinent and identifying information to every item documented in your business inventory spreadsheet. Include the following information (where possible):

  • model numbers
  • purchase date
  • original purchase price
  • a description of the item’s condition
  • a person(s) responsible for maintaining the condition
  • a person(s) using the item
  • any other distinguishing characteristics
  • Step #4. Add pictures.

Real photos and pictures of documented inventory items will help you add more valuable content to your spreadsheet. Although this step is not required in designing a business inventory, you can take it in order to visually document current condition of your property. Under every picture you need to add date of creation and name of photographer.

  • Step #5. Make maintenance records.

Now in your inventory spreadsheet you can make records on the maintenance of every item listed. Such records can be helpful when your insurance agent needs to identify the condition of the item at the time of the insurance claim. Maintenance records will also help your facility manager to schedule repairs and service.

  • Step #6. Count "outside" intensity.

This step entails that your organization may have some items kept outside of your main business building (e.g. vehicles, manufacturing equipment). You need to make an appendix to your major business inventory and list there all "outside" items. Take the previous 5 steps for creating such a supplement.

  • Step #7. Keep the inventory updated.

It’s a good idea to use a calendar for scheduling regular (e.g. semi-annual) inspections of the items listed in your business inventory. You need to create an inventory inspection schedule and assign a person (e.g. the inventory manager) who will make inspections and add appropriate marks to the schedule.

 2. Storing the Document.

  • Make several copies of your business inventory and its appendix and share the ...

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