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Is Your Parts Inventory Efficiently Managed?

10/14/13


Do you have...?

  • obsolete parts in stock
  • parts that are needed but not on the shelves?
  • inability to count for every part checked in and checked out of inventory?
  • no knowledge of parts turnover?
  • no knowledge of the exact part location in the stock room?
  • unidentified reorder points for parts?
  • unknown parts on hand levels and value?
  • no routine physical inventories conducted?
  • no formal procedures in place for parts reordering, receiving and usage?
  • experience with inventory shrinkage?
  • no way to compare competitively priced parts from various suppliers?
  • delayed repairs due to part back orders?

If you answered "yes" to some of the above questions, then you most likely do not have control over your parts inventory. This lack of control could be causing you to lose a significant amount of money each year.
Organizing your parts room, developing a formal process for parts reordering, receiving and usage along with implementing Truck Tracker's parts inventory management solution could help you in gaining control over your parts inventory and reduce waste.
FleetSoft has developed a guide for the preparation to successfully set up your parts room, "Parts Inventory Site Preparation Guide". This guide leads you through a step by step process to get you up and running.
However, once the parts stock room is set up, formal procedures need to be established and put in place in order to keep the parts stock room organized. Specific processes need to be implemented for parts reordering, receiving and checking out. Through every step each action needs to be documented for accountability. Truck Tracker's parts inventory modulecan help with this.

Truck Tracker's Parts Inventory Module...

  • Provides detailed information for each part in your inventory; location, reorder points, on hand quantities, on hand values, last usage date and last cost.
  • Warns user when parts have reached reorder points and quantity to be ordered to avoid stock outs.
  • Generates reports to determine which parts have not been used in a specified time frame and can be returned to supplier for credit.
  • Produces detailed accountability of all parts received into inventory and being checked out, diminishing the shrinkage of inventory.
  • Gives the user the ability to determine quantity and cost of any given part on hand along with total value of on hand inventory instantaneously.
  • Displays parts suppliers, costs from each supplier and last paid cost enabling user to comparison shop for the best price.
  • Provides a step by step guide to walk user through the daunting task of physical inventory.

Utilizing these tools, made available by FleetSoft, makes it easy to manage your onsite parts inventory competently while reducing the investment. Your fleet will be serviced in a shorter period of time with the avoidance of part stock outs, gaining more time on the road and more productivity from your fleet and shop team. Use FleetSoft's Parts Inventory Management Cost Savings Calculator inputting your own numbers to determine the return on your investment.