CMMS inventory management system is your solution for streamlining your inventory and keeping track of your organisation’s maintenance operations.
Tracking and managing a company’s inventory can take time, especially if it has many lists and stock rooms.
With an effective inventory management system, it’s easier to keep track of what your company has.
With CMMS software, you can quickly and easily see what you have in stock, what you need to order, and when items need to be restocked.
CMMS inventory management software helps you avoid costly mistakes and keep your business running smoothly.
This blog discusses how your organisation could benefit from a CMMS inventory management system.
What is CMMS inventory management?
For most businesses, inventory management works to track and maintain company investments in internal and external products.
Inventory management can track inventory levels and know when to reorder a particular product. It can also be used to repair products you own as part of a preventive maintenance program. This is what CMMs inventory management could do for your company.
Inventory management software can be used for counting the number of items in your organisation or tracking the entire lifecycle of all elements of your product.
What does a CMMS inventory management system do?
Inventory management systems are a great way to identify and understand your company’s inventory.
Inventory management can answer questions about work order cost, the average cost per order, and how to control your costs.
This information helps businesses to track the status of inventory items to keep them up to date with what is available.
Furthermore, you can decide which products to order and when. So, it is worth the time and cost you put in.
The Benefits Of CMMS Inventory Management System
CMMS providers offer cloud-based inventory management. This makes the same information available to all users to use and track from anywhere and at any time. What was done traditionally can now be controlled with software.
The benefits of the CMMS inventory management system include the following:
1- Inventory control
Inventory management means having the required inventory and quantity at the right place, time, and cost. CMMS gives you control over all this information.
Integrating a CMMS inventory management software into your operations ensures that your storage facilities run smoothly and economically. It allows users to analyse inventory trends and optimise inventory levels.
With this knowledge, you can easily control and manage your organisation’s inventory.
2- Tracking stock location and transfer
Tracking product location is one of the most powerful inventory management features of a CMMS. CMMS software uses real-time inventory tracking, making managing the site and transferring your products more accessible.
Inventory managers can quickly look at the multiple locations of company equipment they need. They can also issue a move work order and send it to another site.
Once the transfer is complete, the item’s new location will be automatically updated so that another benefit your company could have from the CMMS inventory management system.
3- Reduce Downtown
The difference between efficient and inefficient equipment is the time the equipment is down. This is called downtime, which all large industries suffer from.
CMMS Inventory systems discover and repair faulty equipment to keep the facility running effectively.
However, repairs can only be expedited if the correct parts are in stock and readily available. CMMS Inventory management systems include detailed equipment spare parts information, so you know what you need to repair the faulty equipment.
Tracking where these spare parts are and alerting you when your inventory is low will significantly reduce equipment downtime.
4- Long-Term Planning
Results from your CMMS inventory management system will help the company in its long-term planning. Managers can use data from CMMS to decide when to order items as a long-term plan.
Inventory managers can use CMMS data to identify when specific equipment needs to be replaced. This is what long-term planning means.
5- Control Budget
The CMMS inventory management system could reduce your costs and budget by understanding item usage patterns. It knows precisely how many inventory items are used and when and how many to buy. This information will let you control your budget and learn how to spend.
Inventory managers can use CMMS to reduce rush order costs. They check the CMMS and pull them out of storage. Managers can take their time ordering equipment for immediate availability when equipment breaks down.
6- Vendor Management
CMMS helps your maintenance teams in inventory management and vendor management also. It manages your supplier list, controls costs, and maintains contracts. CMMS automatically populates supplier information on POs and PRs.
You can set up your CMMS to identify automatically when you need to reorder your products. When the minimum available quantity is reached, CMMS automatically generates purchase orders for suppliers to replenish their inventory.
CMMS handles this task when materials need to be returned to the supplier. The CMMS inventory management system tracks which materials have been returned to which suppliers and automatically updates inventory levels.
You now know the benefits of good inventory management. The full use of CMMS can turn any facility into a well-optimized machine. By automating inventory management tasks, businesses can save time and money. In addition, CMMS software can improve inventory accuracy and visibility. It may require some effort and proper use of insight but believe me. You won’t regret it.