Maintenance inventory management software ensures necessary parts are always on-hand so critical machinery is restored ASAP. Of course, disrupted production leads to limited product supplies that fail to meet customer demand. Several studies have shown the availability of spare parts significantly impacts efforts to restore production. Improved Customer Satisfaction: As previously mentioned, unplanned downtime majorly disrupts production.You also can order products for your locations in bulk, hence not paying multiple shipment fees. You can easily track spare parts’ levels for different facilities in a central place. Management of Multiple Locations: CMMS inventory management also comes in handy when overseeing multiple locations.It can also track and calculate predetermined numbers of units to order upon quantity-triggers, thus recommending ideal times to order parts. Minimized Losses: The software provides insights to help departments avoid over-investing in rarely used materials.In some cases, you also may shave off additional warehousing fees. This is essential to identifying the most cost-efficient method for ordering maintenance material and replacement parts. Minimized Storage Costs: Maintenance inventory management software assists its users in making more economic order quantity calculations.In the auto industry, downtime can cost up to $50,000 per minute, which translates to a whopping $3 million per hour. However, upon closer examination, maintenance storeroom shelves hold equally valuable forms of inventory.Įfficiently stocked parts, materials, and tools provide maintenance technicians with everything they need to keep critical machinery running smoothly.ĭepending on the business, delayed equipment downtime due to parts unavailability can dramatically affect profitability. Of course, most company executives initially associate inventory with the supplies needed to make products and perform services. According to Granite Bay consulting, reducing inventory inefficiencies by 50 to 80 percent can significantly increase market shares and profitability. Inaccurate inventory records also lead to stock-outs, market changes, and over-purchasing. In many cases, such gross inaccuracies negatively impact an organization’s ability to meet customer demand. Inventory mismanagement is widespread across multiple industries.Ĭase in point: a Management Science analysis of nearly 370,000 inventory records from 37 retail stores found 65 percent of stores to have inaccurate inventory records. In this article, we’ll delve deeper into the world of inventory management before sharing the most important information you need to know when evaluating software options.
Inventory management systems range from surprisingly simple to exceedingly complex. Ultimately, the type of system you choose will depend on your unique business model. Inventory items can include raw materials, parts, and deliverables ready for customers. With maintenance inventory software, of course! Modern inventory management systems combine cloud-based software with standard operating procedures (SOPs) to monitor tangible business assets in a digitized central location. What’s the best way to accurately track, control, and optimize your supplies? Either way, mismanaging inventory erodes company bottom-lines.įor these reasons, developing a foolproof inventory management system is essential to long-term operational success. Understock, and you risk losing money on equipment downtime, delayed shipments, and customer dissatisfaction. Overstock, and you risk tying-up precious capital that you could reinvest elsewhere. Maintaining optimal inventory levels is tricky.
0 kommentar(er)
