Using a CMMS for Inventory and Equipment Tracking
Poor inventory and equipment management can lead to inefficiency, low productivity, and health and safety issues. This can not only be devastating to company profits, but could affect the well-being of your employees. The simple addition of a computerized maintenance management system (CMMS) could rectify all of these issues.
Task Scheduling for Maintenance
Scheduling tasks can help you to keep track of what machinery needs maintenance, which parts need to be ordered, and how long you have to wait until the next scheduled checkup. With 1 in 4 start-ups failing because of cash flow problems, ensuring that you are prepared for the unexpected is vital. Ignoring issues and allowing them to build up means your business could end up facing many unnecessary expenses in the future, which could affect your ability to pay investors, producers or clients.
Stock Inventory Alerts
As well as maintenance scheduling, a CMMS can alert you when stock is low. Automation is one of the many benefits to digitalising your inventory system. By leaving it to software, you are reducing the capacity for human error and making sure that you stay ahead of the game. This will make planning easier, and reduce the amount of time you need to spend checking and double-checking your inventory and equipment.
Tracking stock and parts also helps you to prevent over-ordering. By looking at your history and cross-referencing it with upcoming projects, you can ensure that you have the optimum amount of stock without running the risk spending too much or buying in products that you can't sell.
A CMMS allows you to locate stock and equipment at the touch of a button. If your warehouse or storage facility is organized, all you'll need to do is invest some extra time when setting up the CMMS to ensure the location information is inputted into the system.
Additionally, updating the information on-the-fly is simplified. A good quality CMMS can be coupled with radio frequency scanners, which connect wirelessly to a central network. With this technology, inventory and stock management is maintained automatically as the database is automatically updated whenever stock is transferred or removed.
All businesses need to file reports and conform to certain filing regulations. Paper forms of reporting can be inaccurate and susceptible to human error; however, you can reduce this risk by having a CMMS produce reports and perform any calculations for you. With inventory levels and ordering information all contained within the server, you'll have access to any data in real time, and can utilize programs that will consolidate everything into easy-to-digest reports.
A CMMS will also allow you to create diagrams and graphs for presentations, such as investor meetings. This can make it easier for a lay-person to understand exactly how your facility operates, which will boost confidence in your business and please auditors and shareholders.
Inventory and equipment tracking is one of the most understated aspects of running a business. With the exception of payroll, it's usually the largest expense. Using a CMMS will streamline your whole operation, ensuring costly mistakes are bypassed and your whole operation runs smoothly, efficiently, and most importantly, within budget.