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How CMMS helps in Inventory and Asset Management?

  • Last Updated : 15 Dec, 2020

Prerequisite – Computerized Maintenance Management System (CMMS)

Asset and Inventory Management is the most important and critical part of any organization that is trying to reduce cost and improve production. Managing assets and inventory help organization to simply monitor and manage assets using scheduled and systematic approach. This in turn improves productivity, saves money. But managing assets and inventories is not an easy task. How much stock is available, how much of it is actually required, how much of stock is required but is not available, all of these questions are very essential. Having too much stock that is not even required is simply a waste of money.

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On other hand, not having inventories required to repair failed assets in stock can be dangerous and might worsen situations. Therefore, one should be able to manage assets and inventories in an effective way. But without the help of maintenance software, it is not possible. CMMS is one of the best software that manages assets and inventories more effectively in the following ways –

  • Optimize Stock Levels :
    Inventory optimization is very important as it simply reduce inventory while improves production level. By optimizing Stock levels, one can easily determine how much stock is required and when it is required. One can also determine how much stock is not required. CMMS is the best software that helps to optimize stock levels. It simply aims at reducing maintenance costs without compromising customer satisfaction. If the required asset is not available, then CMMS will automatically notify about require assets so that it can be ordered on time.
  • Eliminate Human Errors through Automated Tracking :
    Human errors are something that is not done intentionally but leads to failure or unplanned action. It is not a bad thing but sometimes it can lead to dangerous or critical situations that can have an impact on organization in a negative way. Human errors can be costly to organizations. But with help of automation, one can reduce human error and saves cost. CMMS helps to perform tracking to monitoring tasks automatically without any need for human beings. This will in turn reduce chances of failure occurrence, and regular checking of inventories is not required.
  • Track Maintenance Upgrades and Work History :
    Keeping the work history of equipment is very essential and important. CMMS generally track maintenance upgrade and work history more effectively. Keeping a record of all maintenance and repair that asset when through will simply help to increase its resale value. Tracking work orders and maintenance upgrades are very important features for any organization. CMMS is a digital method therefore it is more implemented due to its accuracy and real-time updates.
  • Standardize Best Practices, Improve QC :
    Improving QC (Quality Control) is the main goal of organizations. For improving QC, choosing the best strategies for maintenance functions, perform maintenance operations is very essential. For this, tracking the performance of maintenance operations is much needed so that one can determine which practice is more effective and will increase productivity as well as quality. If maintenance is essential, keeping maintenance records is more important and CMMS is the best way to track maintenance operations.
  • Diagnose Problems Faster by Looking up Critical Asset Information :
    CMMS generally store all type of information whether critical or not. It allows access to critical information and data that will help one to identify problems much faster and that too with greater accuracy.
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