How Preventive Maintenance Improves Inventory Optimization with CMMS
Contents
- What is the Need for Implementing CMMS for Inventory Optimization?
Modern CMMS systems are much better than older ones that were mostly used to store maintenance data and report it in a collated manner when needed. Connected CMMS platforms use a modular approach to facility management, including inventory management. When inventory management is automated through an integrated CMMS, work orders are issued as soon as a set inventory level is reached. This makes maintenance operations more efficient as asset management, work order management, compliance, and spare parts inventory management all work together. This way, FMs can stop dealing with unplanned downtimes and start planning preventive maintenance based on data collected by a purpose-built IoT-driven platform.
In this blog, we will learn the need for implementing CMMS for inventory management and the benefits of preventive maintenance with CMMS.
What is the Need for Implementing CMMS for Inventory Optimization?
The Price of Inactivity and Empty Shelves
A major, but frequently neglected, expense of inadequate inventory management is the resulting downtime. Production comes to a standstill when a vital piece of machinery breaks down, and the needed replacement parts are nowhere to be found. The consequences can be significant: lost income, projects that drag on, and strained interactions with clients.
Overstocking: A Silent Resource Drain
Stockouts are a problem, no doubt. But overstocking is a frequent consequence of bad inventory management, too. Keeping too many spare parts on hand can be a real drain. It locks up cash, drives up storage expenses, and opens the door to parts becoming obsolete. The challenge is finding the sweet spot: having enough parts available without pouring too much money into inventory.
Inefficient Purchasing Process
Inefficient procurement and purchasing practices can really drive up maintenance costs. When there’s no smooth system in place for ordering, keeping tabs on, and getting spare parts, mistakes, holdups, and extra costs are almost guaranteed. This kind of inefficiency usually comes from a disconnect between the maintenance and purchasing teams.
Lack of Inventory Visibility & Control
When spare parts aren’t tracked in a central system, keeping accurate inventory records becomes a real challenge. This lack of visibility into what’s available can cause stockouts, overstocking, and a waste of resources. To manage inventory effectively, you need to know exactly what you have, where it’s located, and how fast it’s being consumed.
Benefits of Preventive Maintenance for Inventory Optimization
Optimize Spare-Part Inventory
Preventive maintenance for construction equipment and industrial assets gives maintenance planners a way to anticipate how things will be used, which in turn helps keep the supply chain running smoothly. A good CMMS, at its core, connects automated work orders with a clear view of what’s in stock. This means maintenance and materials teams can work from the same set of data, closing the gaps in communication that often result in running out of parts and having to place last-minute orders.
Streamline Vendor Management
Vendor collaboration is streamlined through integrated inventory management. Facility managers get the ability to monitor orders and delivery progress, as well as handle negotiations, all from a single platform.
IoT-Powered Inventory Insights
CMMS inventory management systems keep tabs on inventory conditions, such as those for temperature-sensitive goods. Should storage conditions stray from the expected parameters, notifications are dispatched to the appropriate parties without delay.
Reduced Downtime
Imagine a crucial HVAC system goes down because a sensor is on the fritz. A maintenance inventory management system steps in. Facility managers get immediate alerts about the problem. At the same time, the system scans its inventory for the needed sensor. If it’s not there, an order gets placed. The outcome? Unplanned downtime is kept to a minimum.
Life Cycle Cost Management
Facility managers have the ability to evaluate the complete cost of owning assets. A maintenance inventory management system aids in determining the best course of action for equipment–whether to fix it, swap it out, or take it out of service–by considering the financial impact over time.
Eliminate Work Order Delays
With CMMS inventory management systems, work orders are directly tied to inventory levels. This means the parts you need are always on hand. The result? Fewer delays, a higher rate of first-time fixes during maintenance, and quicker work order closures.
Streamline Maintenance with Factech CMMS Solutions
Factech’s integrated CMMS redefines inventory management, shifting it from a simple storage function to a dynamic maintenance tool. It does this by connecting asset health directly to the supply chain. Leveraging AI insights and IoT connections, the system automatically generates work orders and replenishment notifications the instant a spare part’s stock dips below a certain level or a sensor signals a potential failure. This “Connected Asset Intelligence” guarantees the availability of essential components for preventive maintenance, thereby eliminating the disruptions caused by stockouts and cutting unplanned downtime by as much as 30%. Furthermore, by centralizing vendor management and offering real-time visibility into usage trends, Factech enables facility managers to optimize their inventory, releasing capital while maintaining complete operational readiness
To know more and to get a free demo, visit our website or directly contact us.
FAQs
Q: In what ways can preventive maintenance enhance the forecasting of spare parts?
Preventive maintenance streamlines spare parts forecasting by establishing predictable consumption trends. This, in turn, allows for more precise forecasting and strategic purchasing decisions. Furthermore, it can lead to a reduction in spare parts inventory costs, thanks to improved planning that minimizes both overstock and the need for costly emergency orders.
Q: Why is it so important to optimize inventory for facility maintenance?
It helps avoid expensive downtime caused by running out of parts while also preventing overstocking. This keeps capital from being tied up and reduces the chance of parts becoming obsolete.
Q: How does a CMMS help eliminate delays in work orders?
Modern CMMS systems connect work orders to real-time inventory levels. This ensures that all the needed spare parts are available before a task begins, leading to faster first-time fixes.
Q: What role does the Internet of Things play in modern inventory management?
IoT sensors provide real-time monitoring of asset health and storage conditions, such as temperature, and can automatically generate replenishment alerts or work orders when parameters deviate from established norms.
Q: How can facility managers shift away from reactive maintenance strategies?
By leveraging data-driven platforms like Factech, facility managers can adopt preventive maintenance practices, utilizing historical usage data and artificial intelligence to proactively schedule repairs and procure necessary parts before failures occur.
Q: What is the principal benefit of Factech’s “Connected Asset Intelligence”?
It streamlines the connection between asset health and the supply chain, automatically generating work orders and replenishment tasks, which can potentially decrease unplanned downtime by as much as 30%.
