Inventory management for maintenance
The terms inventory and assets are often used in business and asset management, but they refer to distinct concepts with different purposes. In summary, inventory (in this context) supports daily operations, while assets contribute to the long-term operational efficiency and financial stability of a business. The management of parts and consumables inventory requires specialised approaches that focus on maintaining item availability while supporting maintenance operations.
- Inventory for maintenance, often called Maintenance, Repair, and Operations (MRO) inventory or spare parts inventory is a specialised subset of general inventory. But shares foundational principles like tracking stock, controlling costs, and ensuring timely availability.
- The stock characteristics of maintenance inventory consist of fast-moving consumables together with rarely used yet essential critical spares which need different forecasting and stocking strategies than general inventory.
- Stock and spare parts management tracks the location, usage and reordering of items plus the quantity on hand. So you can report on the ‘how, when, quantity and for what purpose’, maintaining optimum stock levels (not too high not too low) as well as a complete history of pricing changes and supply chain information.
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- Inventory allocations by locations/departments/personnel
- Minimum order quantities for reorder notifications/reports
- Availability for sharing of stock between organisational units and departments
- Inventory management exists to provide essential spare parts and consumables for maintenance operations and equipment uptime protection.
- The critical nature of maintenance inventory requires immediate availability and a quick response time since equipment operations or production will stop if needed parts are absent.
- Parts inventory requires direct synchronisation between maintenance schedules and your asset management system. Serving as a tool to connect parts with assets and maintenance tasks, while tracking consumables usage and automating reordering processes.
What is spare parts inventory management?
Hardcat’s inventory management module manages parts and consumable items to optimise the use and storage of inventory levels. Knowing the location and quantity on hand, Hardcat’s inventory control system focuses on tracking of inventory through maintenance workflows, ensuring your organisation stays aligned with operational demand across multiple locations.
We provide comprehensive reporting on consumables and spare parts, including audit trails of stock usage, pricing history, and supply chain information. It also supports physical audits and cycle counting to ensure records match actual stock, helping maintain accuracy and compliance.
What are consumables in maintenance?
A consumable item is any inventory that, once used or installed, cannot be recovered or reused. However, not all consumable items are managed in the same way. Some require detailed tracking to monitor usage and allocation, while others are simply logged to ensure timely reordering when stock runs low.
Consumables in maintenance are materials, parts, or supplies that are used up, depleted, or require regular replacement during routine upkeep, repair, or operation of equipment and facilities. They are not intended to be part of the final product but are essential for maintaining and supporting ongoing operations. Examples of maintenance consumables:
- Lubricants and oils (e.g., greases, hydraulic fluids)
- Cleaning supplies (e.g., solvents)
- Chemicals (e.g., adhesives, sealants, de-icers)
- Gaskets and seals
- Fasteners (e.g., bolts, screws)
- Filters (e.g., air, oil, fuel filters)
- Batteries and small electrical components
- Lighting components (e.g., bulbs, fuses)
- Bearings and other wear parts
Consumables tracking manages the how, when, and what quantity is used for what purposes, maintaining optimum levels (not too high, not too low) as well as a complete history of pricing changes and supply chain information. Having an accurate inventory of consumables provides:
- Stock and inventory allocations by locations/departments/people
- Minimum order quantities for reorder notifications and reports
- Stock availability for sharing of stock between organisational units/departments
- Ensures you are not overstocking or understocking
- Audit trail of stock usage
- Automatic reorder of stock based upon usage
- Ensuring critical spares are always available in the event of breakdown
- Simple and effective budget management
Key benefits of parts and consumables management
Maximum Productivity
Implementing an inventory management system is highly effective for monitoring spare parts. It allows managers to determine parts availability, location, and quantity, set minimum thresholds to trigger replenishment alerts, and establish maximum thresholds to prevent overstocking. Additionally, it assists in tracking spending. For maintenance personnel, access to maintenance and asset data via mobility solutions enables remote recording of inventory usage.
Budgeting Realistically
Predicting what parts and consumables are needed in the coming year can be challenging. However, a reasonable budget can be developed by reviewing data from your asset management system. Setting aside a budget for both expected wear and tear and unforeseen damage or repairs, such as those caused by accidents.
Locate Inventory Quickly
Time is lost and extra money is spent when you can’t find your replacement parts or consumables. It is crucial to be able to locate items in a timely manner and have an organised storage area. Track, reorder, move, change and report on consumables and spare parts anywhere, anytime. Know the location and quantity on hand.
Accurate Verification Processes
Conducting a physical audit of stocked parts and inventory items is essential. This ensures that actual counts match the records in your asset management system. If a yearly audit is too daunting, consider breaking it down into cycle counting by verifying one area at a time on a regular, periodic schedule.
Optimise inventory management effortlessly
Hardcat’s software is trusted across various industries such as law enforcement and emergency services to maintain optimal inventory levels and facilitate interdepartmental sharing. By tracking inventory allocations across locations, departments, and individuals, you can provide detailed reporting on consumables and spare parts usage patterns and effectively manage stock replenishment.
Frequently Asked Questions
What is the difference between inventory and assets?
Inventory refers to consumable items such as spare parts, components, or materials used for maintenance, repairs, or production. These are expensed when used and support daily operations. Assets, on the other hand, are long-term resources like tools and equipment that contribute to the ongoing operational efficiency and financial stability of a business and are capitalised and depreciated over time.
What is inventory management and why is it important?
Inventory management is the process of tracking and controlling the stock of goods, parts, or consumables to meet demand efficiently. It helps organisations avoid stockouts, reduce excess inventory, improve cash flow, and ensure timely availability of items.
How can I optimise inventory levels to avoid overstocking or stockouts?
Optimisation involves setting reorder points on stock levels based on demand forecasts and supplier lead times. Regular stocktaking and using inventory management software or automated systems help maintain accurate records and timely replenishment.
How does technology support inventory and consumable management?
Inventory management systems track, reorder, move, and audit consumables and spare parts. Automated reorder notifications and minimum order quantity settings help prevent both overstocking and understocking, ensuring critical items are always available when needed.
Hardcat enables organisations to monitor and control inventory across various locations, departments, and even individuals. The system provides visibility into allocations, movements, and stock levels, making it easy to share inventory and manage replenishment through workflows. Ensuring your organisation stays aligned with operational demand across multiple locations. Maintain optimum inventory levels and inter departmental sharing of your stock, parts, and consumables.
