In his latest blog post, Fame Rental CEO Joe Lewis explores a costly issue facing rental businesses: ineffective inventory management. He outlines how outdated practices like spreadsheets and disconnected systems are quietly draining profits, delaying service, and eroding customer trust. Read the full blog post here.

According to the blog, the consequences for rental businesses are measurable and severe:

• 10 percent of retail sales are lost due to stockouts
• 30 percent of inventory sits idle for more than six months
• 15 percent of maintenance work orders are delayed waiting for parts

Lewis notes, “When customers can’t get what they need when they need it, they don’t just walk away from a single sale, they often walk away from your business entirely. In today’s competitive market, customers expect immediate availability.”

As a solution to poor inventory management, Lewis urges rental businesses to rethink traditional practices and embrace modern solutions that provide dynamic inventory optimization, such as:

• Data-driven tools to calculate ideal stock levels
• Implementing real-time tracking and cycle counting
• Leveraging barcode scanning and mobile apps for inventory accuracy

“Successful inventory management isn’t about maximum stock levels. It’s about optimal stock levels. Getting the right balance takes a system that ensures the right items are available when and where they’re needed, leading to better margins and customer satisfaction,” Lewis adds.

About Fame Rental

Fame Rental improves businesses and the lives of their employees and customers. Fame does this because it cares more deeply, listens more intently, and acts more methodically than anyone in the rental industry would ever expect from a software company.
Based in Westport, CT, Fame Rental offers innovative web-based software solutions that help rental businesses manage rentals, sales, service, retail, leases, manufacturing, maintenance, inventory, parts, purchasing, accounting, and asset financing — all in one, fully integrated system. The FameAir™ web application provides real-time information to anyone, anywhere, at any time.

Fame takes the time to understand its customers’ needs, goals, dreams, and desires. It then configures management software that helps rental business owners sleep well at night and outsmart their competition by day. It also offers technical support that delivers solutions within hours or days, not weeks or months. Contact us at sales@famerental.com to schedule a demo.