Inventory is one of the most important assets of any business and it represents an investment that is tied up until the item is sold to the consumer or used in the production.
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 containing suppliers and costs.
When you're tracking inventory, you get:
all the parts information in one easy-to-access place
a better purchasing plan with visibility on what has been ordered and who it was ordered from
better control of inventory expenses
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 is 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. This also means 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 they are needed. You're pushing the carrying costs back onto the suppliers.
Implementing a new system can be daunting, because it's often hard to know even where to start from. 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.
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 a hard task to select the right one for your needs. Luckily, online search directories such as Capterra, Software Advice helps their user to simplify their software search by connecting them with the right solution.
The customer service is exceptional, and the system is extremely user friendly.
See Hippo CMMS live in action. Schedule a 30 minute demo with one of our specialists today.
Hippo CMMS has several pricing options. Choose the one that works best for your company.
Have questions about Hippo CMMS or maintenance management software in general? Speak to our solutions experts today!