For fleets, poor stock management processes waste time and money in several ways. As repair costs increase, implementing inventory management practices can reduce the risk of additional expenses.
Inefficient inventory management can absorb capital that could have been better spent in other areas of your business, so it can cause decreased productivity through increased downtime that will have a poor impact on your bottom line.
The above points are important for your inventory management software to consider in order to control and track spare parts.
Poor inventory management practices and their consequences are relatively easy to remedy.
We examine proven approaches and tactics to optimize inventory management processes:
When frequently used inventory is easily accessible, technicians can become more productive. A well-organized inventory helps staff respond quickly to repair needs and avoid unnecessary downtime.
Good store tracking also helps identify slow and obsolete parts that take up limited space and increase inventory costs.
By eliminating poor inventory management practices, the right items and quantities of parts are always available to meet maintenance and repair needs. Effective inventory planning also promotes efficient purchasing practices, reducing the need for those costly last-minute orders.
When maintenance personnel and parts warehouse managers have the knowledge to recognize which parts are moving fast and need to be ordered more frequently, inventory needs can be met more efficiently. However, integrating parts inventory topics into in-house training programs can help develop these skills.
The use of an inventory management solution improves fleet profitability and has many measurable benefits in terms of reduced maintenance costs, minimized tedious administrative tasks and increased employee productivity.