From managing proper stock levels and reordering to purchase orders, the parts process can be cumbersome to manage, without the proper Software System in place.
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Without proper tracking methods it's very easy to over order unnecessary parts, in an attempt to make sure one is always available when needed. With the help of Assetminder, you can streamline this process and only order when the time is right.

In a conservative estimate, Fleet Management Software should help an Organisation reduce unnecessary spare/obsolete parts being purchased by at least 10%, after its implementation.

When it comes to Inventory Management, Fleet Managers need all the help they can get.

The right FMMS can help by delivering crucial features that play an integral role in your success.

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Here are 3 of the most important features an FMMS might offer, when it comes to Inventory Management: 

Invoicing: One of the most important features you should have access to, through Assetminder, is automated invoicing. This should tie into other features, such as low stock triggers and automated purchase orders, to simplify your management process and ensure accuracy. All while reducing paperwork. 

Warranty Tracking: This is an important consideration, particularly when it comes to your fleet vehicles and the parts and components used to service/repair them. Assetminder will allow you to track warranty performance and automate returns. It will also make it easier to decide on changing part and component manufacturers, based on actual performance, longevity and warranty coverage. 

Low Stock Triggers: Finally, you should have access to low stock triggers. These can be set for any components, parts or supplies, but are particularly useful for high-use items. Low stock triggers ensure that you always have on-time deliveries of your most frequently used supplies and components. This helps by reducing wear and tear on vehicles, due to no service being performed because parts or supplies were out of stock, as well as downtime when a vehicle is VOR.

Assetminder delivers these 3 features, as well as a host of other important tools to bolster fleet efficiency and uptime, while reducing costs of ownership.

_{Contact us to discuss your Inventory Management needs.}

If done properly, the efficient management of parts can be a huge opportunity to save money. Assetminder Management System will make everything related to managing parts much easier.

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Here are 3 ways you'll be able to achieve savings through better Parts Inventory Management: 

1. Capture Warranty Costs

A Fleet Management System will make claiming warranties (even small ones) an achievable goal. Assetminder provides a notification to the user when parts, that are about to be used on a job card, are still under warranty. This gives the user the opportunity to go through the proper warranty claim procedure. Maintaining warranty records on each and every part would be very difficult and time consuming. Assetminder makes Warranty Management a quick and worthwhile return, on investment in our Software. 

2. Inventory Reduction

Without proper tracking methods, it's easy to over-order unnecessary parts in an attempt to make sure there is always one on the shelf for use, when it's needed.

But with the help of Assetminder you can streamline this process and only order when the time is right. In a conservative estimate, Fleet Management Software should help an organization reduce spare/obsolete parts purchases by at least 10%, after implementation.

3. Core Part Returns

This is another commonly overlooked area to save money. Many workshops and fleets are good about core part returns for more expensive parts, such alternators etc. But when it comes to the smaller items, it can sometimes be ignored and discarded. Assetminder makes tracking all of the core part items quick and easy, by having the records to see if core part returns are actually being done, and by tracking the return to a credit note or alternative resolution.

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Here are 8 easy steps to help you organise your stores

Step 1

Create a floor plan. Whether you own or rent the warehouse space, obtain a copy of the floor plan that shows the layout of the area.

Step 2

Label sticky notes or pieces of paper with the name of each section of your warehouse. Place the paper on the layout so you can see which area of the workshop is the storage area for your stock. Other areas may include goods receiving, shipping and the administrative offices.

Step 3

Create slips of paper for product categories. Decide how you are going to categorize your stock.

For example; Filters, Electrical, Body, Air, Cooling, Cab, Braking, Steering, Suspension

Step 4

Choose the type of storage shelves, or other storage, to use for your products. The type of shelving/storage may vary according to the types of products you need to store. Consider shelving/storage that is large enough to store each product and is sturdy enough to hold its weight.

Step 5

When you decide which products are placed on which shelves, label the shelves with appropriate signs. You may separate your signs and storage space by the product name (alphabetical order), product number or product category.

Step 6

Arrange the product categories on the floor plan. Place the pieces of paper, with the product names, on the floor plan where the shelves/storage units, for all the products that fall under this category, are going.

Step 7

Label the stock layout on your floor plan. Make sure that your stock layout, in the workshop, matches the labels you have on your floor plan, so you can have a master plan on where each product in your store is located. You can also update your stock tracking system to match the layout.

Step 8

Create a process for incoming stock. Write a policy and procedure sheet, on how the stock process works for your business.

For example, the stock may arrive in the receiving area of the workshop, so describe how the stock goes from receiving, what person is responsible for logging the stock into your Inventory Tracking System, and then how the stock is placed on the storage shelves.

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