When a business must manage its supplies, repair parts, and other items, MRO inventory should be used to improve efficiency and save money. Your business can keep track of inventory, cut supply costs, and remain abreast of supply levels. The five tips below explain the things that your inventory software should do. Ask questions about these five functions before signing a contract or buying a new program
1. Search Function
MRO optimization software should have a search function that allows you to find all the information about any product. You should have the option to search by name, SKU number, or your internal ID number.
The search function should allow you to find a specific product, learn everything you need to know about it, and make wise decisions going forward. Most people who are working in a busy plant do not have several minutes to find the information they need. The search function can speed up the workflow of everyone in the plant
2. Reports
The inventory software you choose should give you the ability to print reports. You can print reports that show you how many items you have bought over a certain period, allow you to compare spending in different areas, and help you determine year-to-year spending.
Reports can be used to trim costs, explain to investors how the company is functioning, and help keep up with demand. At the same time, reports can show where items have been lost or stolen. A sudden dip in product usage might indicate a problem within the company, and reports can be used to show the last time a vendor was paid.
You might also use reports to compare the prices you pay to different vendors or manufacturers. If you find that one product is significantly cheaper after running the reports, you can place orders with the new vendor and trim your budget.
3. Automatic Ordering
The automatic ordering function should be used when a company does not have time to place manual orders. Your inventory is much easier to manage if you know when products should be replenished. You can set up an automatic order that will be delivered every week, every month, every six months, or every year.
You will even get alerts from the program showing you when items will arrive. You do not have to hunt for products that you need, and you can be sure that a certain item will arrive at a certain time. In fact, the automatic order will become part of your corporate culture. For example, your staff will get in the habit of explaining to managers and new hires when supplies arrive. “New gloves arrive every Wednesday.” “Lubricants arrive the first Friday of the month.”
When your staff has faith that supplies will be delivered, they will get more work done because they are not worried about having the proper tools.
4. Location And Storage Notes
MRO optimization should include location and storage notes for all the items in the building. A worker who is searching for an obscure part or item may have a hard time finding that particular box or crate. Checking the inventory program allows that worker to find the box in the “south corner of the warehouse on shelf E”.
You should take notes every time a new product is added to the warehouse, and you should label all shelves carefully so that you can take proper storage notes.
5. Supply Alerts
Supply alerts should be set up if you are not using automatic orders. The program can tell you when you are running low on a certain lubricant, cleaning product, or tool. Because all your consumables are used at different rates, you should not try to check these items manually. Allow the program to tell you that you are running low.
When you check the information for that item, you can easily place another order because the program allows you to connect directly with the vendor.
Conclusion
Your company will be much more efficient if you have managed your inventory properly. Investing in an MRO software program allows you to keep track of all the items you use, ensure that those items can be ordered when needed, and even check the location of those items around the warehouse. Your employees can easily find what they need, and your company can print reports that explain how your money is spent
