Inventory Management Software

Track, manage, and control your facility's inventory and assets from anywhere at any time with
inventory management software

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What is inventory management software?

An efficient Inventory management process involves having one single network for tracking parts, supplies, and other consumables in real-time with unmatched accuracy, detail , and traceability. Today’s CMMS include inventory management software features and functionality to streamline this process with better quantity tracking, loss reduction, shorter order times with suppliers, reduced costs, and overall optimization of facilities management performance.
Engineers in mechanical factory planning inventory management using Inventory Management Software

Why use inventory management software?

Inventory is one of the most important assets of any business because it represents an investment that is tied up until it's used in production and then sold.

Mismanaged inventories lead to :

  • Missing inventory due to loss or theft
  • Incorrect ordering resulting in waste and higher costs
  • Difficulty tracking spare parts and consumables
  • Decreased warehouse organization
  • Frequent delays in shipping and delivery
  • Increased costs and lowered profits

Benefits of Inventory Management Software

Preventive maintenance
Improved efficiency
Inventory management software tracks data over time which can be put to use in a variety of ways, making the facility and maintenance operation more efficient.
Preventive maintenance
Easy location transfers
CMMS systems use real-time inventory tracking to record all inventory items (parts and other materials), empowering users to always know where items are and where they should be.
Preventive maintenance
Reduced equipment downtime
CMMS systems track the spare parts and materials critical to maintain and repair equipment, and alerts maintenance managers when stock levels are low.
Preventive maintenance
Managed inventory levels
Inventory managers can refer to CMMS data to ensure inventory levels are where they need to be and materials are always readily available.
Preventive maintenance
Low inventory alerts
CMMS provides low-inventory alerts, ensuring that critical parts and materials are always available and businesses have fewer costly interruptions.
Preventive maintenance
Decreased costs
Inventory managers can use inventory management software to reduce and even eliminatexpensive rush orders.

Hippo CMMS Inventory Management Software

Hippo’s inventory management software allows maintenance managers and technicians to easily manage their inventory and supplies.
It provides real-time information on inventory levels, alerts when parts are low, and order details with suppliers and costs.

Key Features

Preventive maintenance
Store information on part number, supplier, images, minimum and maximum thresholds, associated equipment, and storage locations
Preventive maintenance
Associate parts with assets and equipment
Preventive maintenance
Monitor inventory levels and quantity thresholds
Preventive maintenance
Get real time-info on what's in stock and what's not
Preventive maintenance
View parts on work orders related to that equipment type
Preventive maintenance
Generate inventory reports to alert you of low inventory levels
Key features of Inventory Management Software displayed in mobile device
Facility Management Software
CMMS Software

Inventory Management Software: KPIs to Track

When you're tracking inventory, you get:

  • All the parts information in one easy-to-access location

  • A better purchasing plan with visibility on what has been ordered and who it was ordered from

  • Better control of inventory costs

  • Less downtime caused by lack of parts

  • Zero confusion on if you have a part or not and where it is

You can check your system's efficiency by looking at different KPIs, including:

  • Amount spent on rush deliveries for parts

  • Number of times a part was out of stock

  • Typically how long a part stays in stock

Good inventory management means never having to rush deliver parts. Once you hit your minimum levels, lead times are short enough to get new inventory in before it's needed. You never hit zero on any part. You're never out of stock. For the last KPI, you want parts to be in stock but not for a long time. It costs money to carry stock, and if you're timing your orders correctly, parts arrive just a bit of time before you need to use them. You're pushing the carrying costs back onto suppliers.

Implementing a new system can be daunting, because it's often hard to know even where to start. But when a maintenance department wants to take control of its inventory, the first steps are clear. To be successful at inventory management, you must maintain up-to-date records of the parts that the maintenance department has in inventory and then make those records accessible to managers and technicians in real-time and from anywhere. A CMMS gives you these capabilities, and over time, all the benefits that can be leveraged from them.

Try Out Hippo CMMS!

Simple CMMS Software with All the Necessary Features

Effective CMMS software has a lot of features. Common features include:
  • Work order management
  • Preventive maintenance management
  • Facility management and maintenance
  • Inventory and spare parts management
  • Interactive dashboards, maps, and site plans
  • Reporting tools and KPIs
  • Equipment maintenance tracking
  • Maintenance technician and vendor management
  • Accessibility from smartphones and tablets

Companies that deal with large amounts of physical products need a reliable and efficient inventory management tool. But since there are hundreds of such tools in the market, it can be hard to select the right one for your needs. Luckily, online search directories such as Capterra and Software Advice helps simplify the software search.

Key features of CMMS Software displayed in desktop screen

Get an estimate

Want to know how much it costs to implement a great work order management system?

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Learn more about CMMS

See Hippo CMMS live in action. Schedule a 30-minute demo with one of our specialists.

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What does it cost?

Hippo CMMS has several pricing options. Choose the one that works best for your company.

PRICING OPTIONS

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Need more info?

Have questions about Hippo CMMS or maintenance management software in general? Speak with a Solutions Expert.

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