A business can save a lot by managing spare parts inventory properly. This process can help in lowering the physical stocking of parts by taking account of the inventory that exists as well as putting in place the right levels of stocking and replenishment actions. An inventory management software assists in this process.
There is a big difference that exists between the control of product inventory and the control of spare parts inventory. Spare parts involve the parts that are required to cater for the unforeseen machine breakdowns and parts required to support preventative tasks or the schedules of a project. Production inventory mainly involves availing raw material for a particular project. Below are the main benefits of using GP MaTe as inventory management software.
Identifying The Stocked & Non-Stocked Inventory
One of the benefits of using GP MaTe as software for inventory management is the fact that it can identify the items that are both stocked and non-stocked. Stocked items can be mostly obtained from the shelves when required, and after being used, it’s only a replenishment calculation that will tell if the item should be ordered again. These calculations take into account expected failure rates of parts, availability and lead times for parts and the impact on production schedules if a part is needed and not in stock.
When it comes to an item that is not stocked, the system will maintain procurement information to help facilitate when another part is needed to be ordered.
GP MaTe Offers Cycle Counting
When it comes to controlling inventory, most businesses are torn between using physical inventory and cycle counting. But physical inventory has its share of shortcomings as human mistakes can lead to misidentification of parts or improper accounting. The physical inventory should just be taken once in a year, and the mess can lead to a serious loss.
GP MaTe is capable of planning Cycle Counts, where organizations can schedule weekly count lists of certain items or locations. The storeroom officials will then do this when they have no other engagements. It is the best way to break down the huge annual tasks into smaller bits that are easily manageable.
Inventory Management Software – Connecting Parts To Equipment
The lists of parts are not important in the workings of storeroom management and businesses dealing with maintenance. The maintenance officials are supposed to know as fast as possible the availability of spare parts, whereas the storeroom operators need to know where parts are applicable to come up with the right stocking levels.
These are just some of the benefits of using the GP MaTe as inventory management software for your organization.
Inventory management is just one component in the GP MaTe line of integrated software components designed to meet all the needs of today’s maintenance management, work order management and asset management professionals. To request a free live demo about our work order management software click here.