Stock, Parts And Consumables Inventory Management
Consumables inventory refers to everyday items with short lifespans your business uses to fulfil daily operations. Hardcat’s inventory management system manages consumable items to optimise the use and storage of inventory levels. You can track, reorder, move, change, audit and report on consumables and spare parts anywhere, anytime via mobility solutions and know the location and quantity on hand. Hardcat’s inventory control system focuses on the tracking of inventory through workflows, ensuring your organisation stays aligned with operational demand across multiple locations.
What Is Inventory Management?
A stock and inventory tracking system manages the ‘how, when and what quantity is used for what purposes’ maintaining optimum stock 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 spares allows an organisation to immediately effect repairs, rather than wait for the appropriate parts to arrive. Our parts and inventory tracking system keeps track of:
- Stock and inventory allocations by locations/departments/people
- Minimum order quantities for reorder notifications/reports
- Stock availability for sharing of stock between organisational units/departments
- Ensures you are not overstocking or under stocking
- 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
- Caters for multiple currencies
Optimise Stock Levels For Maximum Productivity
Utilising Maintenance and Asset Data
Implementing an inventory management system is highly effective for monitoring spare parts. Allowing 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 allows for ‘in the field’ recording of inventory usage.
Budgeting Realistically for Long-Term Expected Expenses
Predicting what parts will be needed in the coming year can be challenging, but a reasonable budget can be developed from reviewing data from your asset management system to determine past parts usage. It’s also wise to budget for unexpected damage or repairs outside of normal wear, such as those caused by accidents.
Managing Inventory Tracking
Time is lost and extra money is spent when you can’t find your replacement parts and consumables. It is crucial to be able to locate items in a timely manner and having an organised storage area. Track, reorder, move, change and report on consumables and spare parts anywhere, anytime and know the location and quantity on hand.
Accuracy Verification Processes
Conducting a physical audit of stocked parts and inventory items is crucial for ensuring 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.
Training Maintenance Workers on Spare Parts Management
Having an inventory control system in place assists the maintenance team in swiftly and efficiently locating the parts and consumables they need, saving time and money. If they don’t grasp the reasons for proper storage and documentation of inventory, they are unlikely to follow these practices. Therefore, document all procedures and standardise processes into the inventory management system for consistent adherence. Additionally, seek their input and encourage them to take ownership of inventory they consume.
Hardcat’s software solutions maintain optimum inventory levels, enables inter departmental sharing of your stock, parts, inventory, and consumables by keeping track of allocations by locations/departments/people. Our inventory tracking system tracks reorders, moves, changes, and reports on consumables and spare parts. Monitor what quantity is used for what purposes and actively manage stock reordering.
