Managing spare parts inventory makes operations more efficient, all while improving profits. Manufacturers in a variety of industries around the globe use GP MaTe maintenance management solutions and spare parts management. Please read on how you, too, can use this tool to significantly boost your business production.
Benefits of Managing Spare Parts Inventory
Accurately tracking spare parts inventory helps brings awareness to the parts that are used most often when replacement or maintenance issues come up. This knowledge frees space and money by limiting the amount of lesser used parts. Additionally, it allows you to focus on keeping an accurate supply of the critical items, especially those needed quickly to perform repairs.
Next, tracking maintenance expenditures by comparing the costs of planned and unplanned maintenance will lead you in the right direction of whether the equipment is better to be repaired or replaced. Also, this analysis identifies areas where your budget may be running over.
Finally, when you attach procedures, error logs, and diagrams to the asset record it allows users to access the important information that will speed up processing times. As a result, you can then search previous orders and provide information on-demand is crucial for a good management system. The work order management system allows you to plan your outages and then reuse the plans while sharing this information with the facility.
How Better Inventory Improves Profits
Avoiding dead stock and spoilage are key to improving profits. A solid inventory system will let you know how much product you have and predict when you will run out. Consequently, you replace it on time, never too late or too early, staying within budget, avoiding downtime and keeping profits.
Tracking spare parts that are stocked or non-stocked allows you to make better decisions. The stocked items will be in the system where they can be replenished if the items need to be reordered. Non-stocked items will be calculated in the system with preferred and alternative vendors as well as their part numbers. The GP MaTe system flags stock out situations which is critical for planning future stocking decisions for parts that are needed but not available.
Managing spare parts inventory reduces repair costs and unplanned downtime while increasing productivity. Find out more about how GP MaTe services and products can help streamline your organization by contacting us today.
About GP MaTe
GP MaTe is a user-friendly maintenance and material management system that facilitates maintenance management solutions, work orders and critical spare parts management. Our product has many optional modules that support Safety (PSM, MOC and LOTO), Budgeting, Multi-plant information sharing, and Operator Tours and Data Collection. The system is available in many languages and interfaces with most accounting and ERP systems.