Monitoring items of rental business(렌탈사업에서 모니터링)

 

There are various items to monitor in the rental business.

1. Inventory management: Rental businesses must continuously monitor the inventory status of equipment or products. You can identify inventory levels, adjust purchases or rentals when needed, and minimize costs due to inventory shortages or excesses.

2. Rental and return status: The condition of the rented product and whether it is returned should be monitored. This allows you to quickly identify and act on damaged or unreturned products.

3. Revenue and accounting: The status of sales processing of rental fees should be monitored to ensure accurate accounting.

4. Maintenance and A/S: Rental products may fail during use and should be monitored for maintenance and repair work. This can contribute to regular checks and improved customer service.

5. Customer Satisfaction: Customer satisfaction is very important in the rental business. Therefore, customer evaluations, feedback, and complaints should be systematically monitored to find improvements and use them to improve service quality.

6. Competitor Analysis: It is necessary to actively respond to market changes by continuously monitoring competitors' trends and price fluctuations.

7. Compliance with laws and regulations: Because the Rantal business must comply with the laws and regulations of the country, it must continuously monitor changes or new requirements to ensure compliance and take action.

8. Rental period and overdue: The length of the rental product should be monitored to ensure that the customer returns it within the agreed period. Overdue rentals can negatively affect revenue loss and customer service, so you should identify and take action in real time.

9. Validation: Rantal products or equipment must be safe and operational. Therefore, you should check the status of each product through regular validation and take immediate action if there is an abnormality.

11. Customer Service Request and Response Time: It is important to respond quickly when a customer makes an inquiry or request. Therefore, customer service requests and response times should be monitored to ensure satisfactory service.

12. Profitability Analysis: Profitability is an important factor in the rental business. You can monitor financial indicators such as revenue, cost, and net income to assess business performance and economic efficiency.

13. Marketing Effectiveness Analysis: Evaluating the effectiveness of marketing activities is also important. Monitor the results and effects of advertising campaigns, promotions, etc. to determine which strategies are successful and to derive ways to improve them.

14. Repurchase and Review Analysis: It is also worth monitoring the repurchase rates and reviews of previously rented customers.
Analyze satisfaction surveys or follow-up purchasing behavior data to identify customer loyalty and satisfaction and identify improvements.

It is recommended that additional monitoring elements be identified, established, and applied according to the operating policies and goals of each rental company.