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Regular reports point out potential issues before they become real problems. Therefore, plugging those leaks is an opportunity for good managers to secure additional profits. Good inventory management practices are worth their while because this is typically where a lot of companies leak money. This way, your admin doesn’t put off recording items because it’s too much of a hassle to input every reference number manually into a spreadsheet or – worse – in a notebook.
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The easiest way is to have a barcode scanner that connects to your inventory management system. Preferably, record them as soon as a delivery truck arrives. Record the items in your system regularly If anyone can waltz into the storeroom or warehouse and take out whatever they want with little more than a post-it left on the counter, then you’re not onto a great start with your inventory management strategy. Hire a storeroom managerĪt the very least, make sure there is a designated, dedicated person acting as one. Best practices for keeping track and managing parts inventory 1. For all that, you do need a trade service inventory management system. Understanding your inventory flow (what type and how many parts are most likely to be necessary at a certain time of the year) will empower you to negotiate contracts with vendors who may give you access to more advantageous prices and, finally, economies of scale. The benefits of a good parts inventory management strategy At first, it might be possible to keep records accurate by having an excellent storeroom manager, but as time goes by and your stock quantities increase, you’ll find more and more errors showing up, with some of them carrying dire financial consequences. However, if you have a separate room or building where you’ve centralized parts storage, you’re on the right track. This is probably the only scenario where a spreadsheet will do the jobs just as well.
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If that’s your set-up, you probably don’t need an inventory management strategy just yet. To make sure we’re all on the same page here, we’re just going to spell it out: having a shelf at the back of the office with nuts and bolts lying loose inside boxes is not the same thing as holding inventory. What is spare parts inventory management? This is why we’ve put together this quick list of parts inventory management best practices. Turns out, one of the most popular questions we still get from our many field service clients is how to manage spare parts well. Gone are the days of check-in/check-out sheets and those illegible post-its left on your admin team’s desk to track items down are, mercifully, a thing of the past … But is that really true? Let’s sit down and see a few parts inventory management best practices! Inventory management is no one’s favorite task but, thanks to digital solutions, it’s never been easier.