Time to Take Stock of Your Trade Show Inventory

May 19, 2020

De-de Mulligan

De-de Mulligan is a digital marketer, blogger and President of Mulligan Management Group, a full-service, boutique marketing agency. A former meeting planner who received the MPI Ohio Chapter’s Planner of the Year award in 2006 and 2012, she brings a unique perspective to her blog posts, including for Rentacomputer.com. You can connect with her on Twitter and LinkedIn.

In normal times, you probably exhibited at 10-15 trade shows a year. Once you got back to the office after three days of shaking hands and exchanging business cards, you most likely shoved everything into storage and got back to the business challenges of the day. But these are not normal times.

Now that the halls are clear and your office is quiet, you have ample time to pull everything (and I mean everything) out of that designated trade show area. Not only will you feel more organized when it’s over, but you and your team will also know what you have on hand and be able to put together a budget for replacement items. Here’s a step-by-step guide.

Before Taking Inventory

Make sure you have with you:

  1. A laptop or tablet that has a spreadsheet application to record pertinent information.
  2. Wi-Fi access, so the spreadsheet is continuously uploaded to the cloud
  3. Gloves
  4. Disposable wipes to disinfect items and remove dust
  5. Box Cutters
  6. Sharpies for re-labeling boxes
  7. Separate locations for items that need to be repaired or replaced
  8. Desk space to power up electronics
  9. A smartphone or camera to take photos

Make sure you designate enough time to complete this process as you may need to go to more than one location or play detective with missing items.

Inventory Tips

Trade show items usually fall into one of four categories:

  • Structure, flooring, and furniture: The things you use to build your booth and the assets that make it functional
  • Signage: The banners or signs that identify your space
  • Technology: Monitors, AV equipment, computers, kiosks, scanners, and anything that runs on electricity
  • Marketing: Collateral, business cards, and giveaways

Let’s take a look at each one in greater detail.

Structure, Flooring and Furniture

Carefully inspect each piece. Is anything broken? Do you have all the flooring? What shape is the furniture in?

If you know of a good carpenter or upholster, perhaps they can fix any broken pieces and modernize your furniture. If it is beyond repair, you will need to make a note of each item in the spreadsheet, the year your company bought them, and the estimated price at the time (for write-off purposes). Lastly, put all the flooring together. If there are missing pieces or it looks worn, consider replacing it altogether.

Signage

These are typically large banners you hang in your booth or directional signage. Open each item and inspect it thoroughly. Are there tears in the fabric? Can it be repaired, or does it require replacement? Is any of the information on it outdated?

Technology

First, plug each unit into an electrical power strip. Does it turn on? If not, check the power cord for any frays or problems. If you think it might be the cord, swap out with another from an identical unit.

Once powered up, check to see if it is running the current operating system. For example, all PCs should be running Windows 10, while Apple has various current version levels.

If it cannot support the latest OS level, now is the time to retire these units. Check to see if any important files or documents are on the hard drive and transfer them to the cloud. Record the type, model, serial number, current OS, date of purchase (if you know it), and whether it powers up or not on your spreadsheet.

Power up all monitors. Do they work? Are they cracked? Do they connect to current technology? Be sure to record the make, model, serial number, and date of purchase on your worksheet.

Assess the condition of your LCD projectors, printers, badge scanners. Do they power up? Are they current with the most recent connections (i.e., HDML)? If they will not connect to current technology, be sure to retire them.

For the laptops and tablets that are current, make sure everything is up to date, including the operating system, applications, and malware protection.

Lastly, once your list is complete, and you have identified the PCs, Macs, and tablets that need to be replaced, consider renting this technology when the need arises. If the trade show industry doesn’t get started for another six months and the shows are few and far between into 2021, it makes financial sense to rent rather than buy due to usage, cash outlay, and continuously changing technology. Plus think about how much storage you can free up!

Marketing

Read each piece of collateral carefully. Do your brochures have an old business address? A previous logo? Do you have business cards with people that have left the company? Giveaways that have expired or will expire before your next show?  

Do a count of each item that needs to be recycled or thrown away on your spreadsheet.

Last Tips

When the spreadsheet is complete, be sure to upload it to the cloud and share it with your management, IT department, and the insurance company. Accounting may or may not need to be involved depending if the equipment is going to be written off or not.

When putting the usable items back in storage, keep them within each group. Make sure there is enough room for new items when they arrive or ask for a larger storage unit.  

For the technology you are going to retire, consider donating it to a local nonprofit.

 

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Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.