Service Parts Inventory Planning
Simple and easy to use for individuals
or teams of planners In today's uncertain business climate, managers look for simple ways to reduce waste and improve profitability. New initiatives must be inexpensive, quick, and have a high return.
Aftermarket service covers the maintenance and repair of equipment and machinery. Service parts inventory management is a prime candidate. With many parts to manage and a lack of power tools, most companies with parts inventories have too many of the wrong parts. The result is unnecessary inventory expense, while still suffering service-limiting stock-outs.
Manual efforts to improve this situation fail, because of the time-intensive nature of the problem. A large number of parts, each with special considerations, quickly bog down someone trying to improve the parts purchases. Whether planning for one location or multiple locations, service parts planning is a daunting task.
Aftermarket Field Service Challenges
- Difficulty & inaccuracy in manually setting min, max, & safety stock levels
- Limited ability to accurately forecast future demand
- Low inventory turns
- Excess and obsolete inventory
- High current inventory costs with wrong mix of inventory items
- Continually changing installed customer base
- Manual processes for determining what to stock, how much, when to order, and where to place it
- Problem correctly stocking Field Service Technicians trunk stock