CMMS for Inventory Management: 4 Benefits

Managing spare parts, tooling, and MRO inventory effectively can be a big challenge. However, powerful computerized maintenance management systems (CMMS) like LLumin’s CMMS+ have revolutionized how organizations overcome it. An advanced CMMS inventory management system that leverages the latest technology can save organizations time, reduce costs, and free them up to focus their energy and resources on other important initiatives.

Today we will discuss how the right CMMS can help organizations streamline and automate their maintenance and operations-related inventory and materials management processes. We will also explain how LLumin’s CMMS+ can track inventory levels in real-time, automatically order replacement inventory when necessary, and expertly correlate predicted work demand levels to on-hand inventory requirements. 

CMMS Inventory Management Benefits

Tracking MRO inventory across multiple facilities without a CMMS solution can be extremely time-consuming and challenging, especially with large stock quantities. It can be easy to lose track of inventory, place duplicate orders, and run out of critical spares when needed, significantly contributing to higher costs and more downtime.

Top Inventory Management Benefits

1. Real-time Inventory Tracking

Enables up-to-the-minute monitoring of inventory levels, status, and location across multiple facilities, improving decision-making and operational efficiency.

2. Automated Replacement Ordering

Automates the process of replenishing inventory by setting thresholds, ensuring critical parts are always in stock without overstocking.

3. Predictive Inventory Requirements

Forecasts future inventory needs using data analytics and predictive modeling, allowing for proactive procurement and inventory optimization.

4. Centralized Data Management

Serves as a unified platform for all inventory-related data, facilitating easy access, analysis, and reporting, enhancing transparency and control.

You can effectively manage an organization’s entire maintenance operations, including streamlining parts and resource procurement processes, with the help of a CMMS solution. The software can act as a unified database for all crucial maintenance data and give your team the vital resources they need to oversee maintenance operations, cut down on wasteful spending, and boost output.

There are many benefits built into LLumin’s cutting-edge CMMS+, but the ones we are going to focus on for inventory management are:

  1. Real-time inventory tracking
  2. Automated replacement ordering
  3. Predictive inventory requirements
  4. Centralized data management

Let’s dive into each and see how a top-notch CMMS with integrated inventory management will help you reach your business and operations goals.

1. Real-Time Inventory Tracking

A cloud-based, mobile-ready CMMS solution will allow your team to access real-time inventory tracking and on-hand quantity status from anywhere in the world. As a result, you will be able to accurately monitor, manage, and schedule maintenance tasks that are heavily dependent on the availability of spare parts and materials.

The software provides users with complete inventory level information, location monitoring, and lifecycle tracking for tools, parts, and maintenance repair operations (MRO), enabling all users to gain access to inventory tracking across multiple sites and remove the unknowns involved in locating and if need be, allocating spare parts and materials.

Your entire team of facility managers, technicians, and engineers will be able to control all aspects of inventory management, including buying, stocking, and issuing parts. The real-time inventory tracking features continue to track inventory data over time and expertly correlate predicted work demand levels to on-hand inventory requirements.

2. Automated Replacement Ordering 

CMMS software can dramatically improve inventory management and streamline the replenishment process, ensuring the correct levels and types of inventory remain available while avoiding overstock of unneeded and potentially costly parts and materials. 

The software can help companies reduce overall maintenance costs and accurately forecast maintenance and inventory needs due to its advanced ability to track and correlate inventory, work order requests, and historical maintenance data over time.

A CMMS also enables organizations to control inventory based on actual need and set automated replacement ordering triggers, helping users control the carrying costs of storing inventory, and avoid the problems associated with being over or under-stocked. 

Further, LLumin’s CMMS+, can work with enterprise resource planning (ERP) systems to generate orders for needed parts and ensure that vendor authorization, procurement policy, and data integrity rules are all in compliance. 

3. Predictive Inventory Requirements

CMMS inventory management has played a critical role in preventive maintenance processes that involve larger maintenance budgets, expenses, and the management of multiple facilities and high volumes of operations-critical assets. Newer, more advanced CMMS solutions, like Llumin’s CMMS+, enable multi-site companies to take a step further and accurately predict the type of inventory they will need in the future.

LLumin’s CMMS+ supports predictive maintenance, which uses data from embedded sensors, Industrial Internet of Things (IIoT) devices, and midstream control systems to identify potential problems before they occur and assess the likelihood of a part failing. Using data from IIoT devices and control systems, a company can decide which components must be kept on hand and incorporate a cost analysis of the likelihood of a failure versus the impact of downtime if a part fails and a replacement not readily available.

4. Centralized Data Management

Consolidating maintenance data into a single, easy-to-use, accessible platform can have a profound impact on operational efficiency, communication, and decision-making processes. A CMMS serves as a centralized repository for all inventory-related data, including order history, supplier information, maintenance records, and more, enabling companies to streamline their inventory management processes from procurement to maintenance completion.

The benefits of using a centralized maintenance management system extend far beyond making inventory management more convenient. LLumin can eliminate all kinds of inefficiencies, data siloes, improving the accuracy and availability of your data. The benefits will extend to helping reduce stockouts and excessive inventory risks, improving your overall maintenance management processes.

CMMS Inventory Management With LLumin’s CMMS+

LLumin’s advanced inventory management features help users accurately forecast their inventory needs, reduce waste and expense, track required parts, and avoid the disorganization and mismanagement associated with less effective processes.

When you choose to work with LLumin, you will have access to excellent customer service throughout the entire process. LLumin will tailor your implementation to your company’s unique goals and business processes. We will provide you with a complete implementation plan and support team to accelerate and guide you through your digital transformation.

Getting Started With LLumin

LLumin develops innovative CMMS software to manage and track assets for industrial plants, municipalities, utilities, fleets, and facilities. If you’d like to learn more about the total effective equipment performance KPI, we encourage you to schedule a free demo or contact the experts at LLumin to see how our CMMS+ software can help you reach maximum productivity and efficiency goals.

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