Imagine having the ability to link company goals with inventory processes to streamline processes in every location. By implementing the inventory management feature of a computerized maintenance management software solution (CMMS) you can, and more.
Read below to learn what we uncovered about maintenance team’s inventory strategies.
Breakdown: What industries are using CMMS to manage inventory?
With automated features on a CMMS, maintenance teams reap the benefits of accurate and efficient inventory levels. So, who’s taking advantage? The following breakdown demonstrates which industries use a CMMS for inventory management:
- Energy: 87% of energy respondents use CMMS for inventory management.
- Manufacturing: 67% of respondents.
- Government: 61% of respondents.
- Transportation: 60% of respondents.
- Facilities: 57% of respondents.
- Healthcare: 47% of respondents.
- Education: 39% of respondents.
What’s keeping your organization from utilizing a CMMS for improved inventory management? Check out the benefits below.
- Improved parts availability and time to fix.
Eighty-five percent of organizations that have all inventory managed in their CMMS have realized a “strong” or “maximum” benefit of improved parts availability and time to fix, according to our 2018 State of CMMS Report.
Visibility of spare parts inventory is vital to understanding the ins and outs of maintenance operations. And without the proper tools in place, maintenance professionals lack insight into what’s in stock and what’s at risk of being out of stock. If stockout does occur, technicians are unable to complete work orders in a timely fashion, causing longer periods of downtime.
With a CMMS, maintenance professionals can easily manage on-hand, available and reserved inventory items. Not only does this result in more effective control of parts and material inventories, but it also improves speed and accuracy with repairs.
- Better system reliability and reduced downtime.
The report also shows improved system reliability and reduced downtime as a result of CMMS implementation.
The CMMS acts as a database with key vendor specifications and maintenance history details. This means maintenance teams can quickly access information, when and where they need it. The result: less downtime and faster response rates. And if your team is tasked with producing accurate insights into performance, then you can capture key metrics and KPIs in your CMMS.
The report states, nearly 70% of organizations use metrics, KPIs, and reports to run their maintenance program.
- Inventory and parts managed in the software.
According to the report, 78% of organizations that have most assets configured in their CMMS report strong improvement to equipment lifespan. Organizations that have more assets configured in the software also realize increased asset life.
With a CMMS, asset management is simple. It gives the maintenance manager the ability to manage assets from different locations, floors or departments in one central hub. This increases the accuracy and effectiveness of storing information, instead of relying on spreadsheets to manage equipment inventory. Beyond that, asset management provides maintenance teams with the information they need to make educated decisions about equipment performance and functionality. With this insight, maintenance can properly repair and replace equipment as needed, which results in less emergency work orders.
In addition, customer satisfaction improves as more work orders and service requests are managed in a CMMS. According to the report, 64% of facilities that configure most work orders in their CMMS report strong improvements to service satisfaction.
- CMMS implementation drives cost savings.
88% of facilities that have substantially rolled out a CMMS report significant cost savings, from tens of thousands to millions of dollars, according to the report.
By implementing smart maintenance strategies, organizations not only cut costs but also increase profits. Maintaining accurate inventory records and stock levels and locations helps maintenance teams avoid excess or missing parts, improving overall operations and improving budgets expectations.
For more information on how your organization could benefit from spare parts inventory management on a CMMS, download the 2018 State of CMMS Report.