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.
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.
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.
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.
Want to know how much it costs to implement a great work order management system?
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.
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 with a Solutions Expert.