Facility managers who are looking to improve their operations efficiency often focus on areas like personnel requirements, work backlogs, energy costs, response times, and operating costs. However, one area that doesn’t make this list yet could make a tremendous difference in overall success is inventory management. It may not be a core responsibility, but its impacts can be felt throughout the entire organization.
When the right materials are not available to maintenance personnel when they need them, there can be delays and higher costs. On the other hand, having too much of a certain item or having items that aren’t needed anymore means too much capital is tied up in inventory, and it also puts you at a higher risk of theft and obsolescence.
Here’s a look at some of the benefits that can be gained by using an inventory management system:
Ease of access: By tracking inventory use, you can identify those items that are used the most frequently and organize the warehouse to ensure they are readily accessible. This will minimize the time that must be spent retrieving them.
Tracking costs: Any time an item is taken from inventory, its cost can be tied to the service activity that is being carried out so facility managers can more easily keep track of the operating costs for certain tasks and equipment. Moreover, if the work is reimbursable, such systems can provide them with accurate billing costs.
Tracking inventory used: When facility managers have a good system for tracking the items that are used along with what time of year they tend to be needed and how often, they can anticipate their needs and ensure the warehouse is stocked with the right items at the right times.
Inventory turnover: Items that sit for too long in the warehouse risk becoming obsolete. Management systems can help identify those items that don’t need to be kept on hand anymore, along with those that need to be added to the inventory.
As you can see, facility managers can benefit quite a bit from using inventory management systems, particularly if they have multiple warehouse locations.
Learn more about the right inventory management solution for you.
This blog post was based off of an article from Facilitiesnet. Read the full article here.