Published: March 06, 2025  Updated: March 06, 2025

How to Achieve Efficient and Organized Inventory Management for Your Business

Your maintenance management family tree consists of several members. Assets need inventory. For successful inventory management, you need accurate records and meticulous policies.

In this article, we'll discuss the following:

• The Benefits of an Effective Inventory Management Program.
• Best Practices for Organized Inventory Management.
• Keep Your Inventory Organized with a CMMS
• Inventory Management in Action.

The Benefits of an Effective Inventory Management Program

⮚ You're prepared. For unplanned downtime. For routine preventive maintenance. For general repairs.

⮚ Efficiency/productivity. With the correct items and the correct number of items in stock, you work more efficiently. Knowing your inventory locations will save search time. Technicians get to "wrench time" faster.

⮚ Reduced costs. Both understocking and overstocking costs. Not enough means emergency purchases, slowed or halted production, and possible extra overtime for workers. Too much means you've spent money on parts that don't move very often.

Best Practices for Organized Inventory Management

⮚ Be proactive. Many companies still rely on a reactive mindset. This means they don't tend to assets until they break down or fail.

Prevention may incur extra expenses at the beginning with increased stock. However, over time, you'll start to experience the above benefits.

⮚ Be accurate in your records. You must have a well-rounded understanding of what stock you have. Create a list of parts with pinpoint descriptions.

⮚ Be accurate in your storage. Know where to locate each part. Develop a system of something akin to: Widget A – Aisle 2, Shelf 1, Bin 4.

⮚ Be accurate in quantity. Know how many of each part you have. This helps when you submit purchase orders.

⮚ Be complete. By this, I mean assign parts to assets. This completes the records on both sides. Technicians don't have to wonder what stock to obtain…they know.

⮚ Be routine. Even if you use software such as a CMMS, you should take the time to run a physical count. Yes, it takes time, but diligence benefits. Stay accurate in your records.

⮚ Be protective. Here, I refer to an issue/return policy. Protect your stock from "just showing up" or "just disappearing."

Monitor who takes and returns parts. Does the right person have the right part? Does the person return the right part?

⮚ Be a forecaster. Anticipate what you'll need for parts. Use maintenance history records for wise purchase decisions. Know package sizes. Know how much you use per job.

⮚ Be a reporter. Actually, generate reports that give you oversight on your inventory. Know the costs. Know the classifications of each part.

⮚ Be dedicated to disposal. Companies evolve and change. You might reach a time when you don't use a certain piece of equipment. Therefore, you don't need to stock parts for that machine. Have a proper disposal plan.

Ready to revolutionize your maintenance department? Schedule a live demo today.

Keep Your Inventory Organized with a CMMS

Review the above points and suggestions. Now turn your attention to CMMS software. You can see how such a system handles all of them.

Here, you can create your inventory list and assign parts to assets.

A CMMS tracks quantity. With proper setup, it will generate a purchase request when you reach a minimum threshold. A quality CMMS helps you assign locations to inventory.

Remember those physical counts? Create count sheets and reconcile numbers on the system.

Your CMMS also helps you institute an issue/return policy. Get into a "show me a work order before you get a part" mindset.

We talked a lot about preventive maintenance. The software helps you organize the department and its program. It won't create one for you, but it will show you improvements to make to your existing strategy.

The CMMS acts as a central database for all your information. Generate reports with honed information.

Don't forget about using the CMMS on a mobile device. This adds extra value to your operations. View inventory and create work orders on a tablet while out in the field.

A job comes up elsewhere. "Do we have enough parts?" Know the answer by having a mobile CMMS solution.

Inventory Management in Action: Industry-Specific Examples

Let's explore two real-world industry examples of the above discussion.

Image description: Inventory in a medical storeroom Suggested Image Alt Text: Medical storeroom with properly managed supplies for patient safety.

Healthcare Industry:

⮚ Patient Safety. Proper inventory management in healthcare ensures that essential medical supplies and medications always stay available. This reduces the risk of treatment delays or errors that could compromise patient safety.

⮚ Cost Control: Healthcare facilities often deal with perishable or sensitive items. Efficient inventory management helps reduce waste due to expired medications or supplies.

Role of CMMS:

⮚ Equipment Maintenance. In healthcare, CMMS systems help in managing maintenance schedules for medical equipment. By ensuring timely maintenance and repairs, CMMS helps prevent equipment failures and minimize disruptions in patient care.

⮚ Regulatory Compliance: CMMS software assists healthcare facilities in maintaining compliance with regulatory requirements. It tracks equipment inspections, calibration, and maintenance records.

Hospitality Industry:

⮚ Guest Satisfaction Proper inventory levels of linens, toiletries, and other guest amenities increase the chances of a positive guest experience. Having the right items stocked at all times avoids inconvenience and dissatisfaction.

⮚ Cost Efficiency: Review the problems of under- and overstocking. Efficient inventory management helps reduce waste. It controls costs associated with overstocking or understocking of supplies. It also enables better forecasting and budgeting, leading to improved financial performance.

Role of CMMS:

⮚ Facility Maintenance: Use the scheduling calendar for proper preventive maintenance cycles. Include guest rooms, common areas, and recreational facilities.

⮚ Supply Chain Management: CMMS systems can integrate with inventory management systems to streamline supply chain processes. This includes Better purchasing power. Track inventory levels in real time. By optimizing supply chain operations, CMMS contributes to efficient inventory management and cost control in the hospitality sector.

Achieve Inventory Management Success with MAPCON

Paying attention to detail. Keep this in mind for your successful inventory management practices. Off by one widget?

What risks do you have? Production losses. Increased costs. Extra labor.

Stay on target with your inventory. Use a CMMS for better oversight. Call 800-922-4336 to discuss the superior features of MAPCON. Handle your inventory the MAPCON way!