Drive Economies of Scale and Reduce Downtime with Global Parts Management

Inflation and supply chain issues are driving parts management costs higher than ever. In fact, supply chain challenges alone are expected to cost businesses nearly 45% of their annual revenue over the next 10 years. This makes efficient inventory planning and purchasing even more critical—but how are you supposed to do that when you can't see or rely on your inventory data?

Many businesses struggle with limited and unreliable inventory data, making it difficult to maintain efficient inventory levels or purchase the right parts. This inefficiency can lead to long lead times for critical part orders, too much inventory of non-essential parts, and expensive rush orders. When you’re managing multiple sites, these challenges get multiplied and cause significant setbacks for your business.

Managing inventory efficiently is different for every business. However, to do it right, you need to easily see all your inventory and make sure that data is reliable. That way, you can keep the right amount of stock without keeping too much for too long. Plus, you'll know when to source parts from inside your company, or externally from a supplier.

That’s why we’re excited to introduce Global Parts Management. This new feature is designed to standardize and enhance inventory management practices across all your facilities, ensuring stability and efficiency, even in unpredictable economic conditions.

“The visibility we get from Global Parts is a game changer. Now we can see all our inventory across all our sites in one place, making it easy to make smart purchase decisions and quickly transfer what we need, where we need it."

- Brandon Cook, Regional Director of Operations, Take 5

Global Parts Management drives economies of scale and reduces downtime by allowing you to view and share your parts inventory across all your facilities.

This helps you to:

• Avoid long lead time on parts orders that could delay urgent repairs and increase downtime
• Increase parts availability with easily accessible inventory across organizations
• Reduce dependency and cost associated with vendors, and minimize supply chain volatility
• Enable leaner inventory levels across your enterprise to decrease inventory holding costs
• Improve efficiency and save time searching for inventory using more manual methods with one easy-to-use mobile and desktop app

Let's see three ways Global Parts Management can help you in your organization:

Reduce asset downtime with increased parts availability

When assets need urgent repairs, Maintenance Managers are often in a race against time to get the right parts for the job.

Not having critical parts in stock amplifies the pressure to restock as soon as possible, because the longer it takes to get the part, the more your downed asset will cost you. This alone results in productivity and profit loss—without even adding the cost associated with buying and shipping the needed part.

With Global Parts Management you can easily see which facilities have the parts you need, submit parts requests, and approve parts transfers, all within the MaintainX platform.

Centralize inventory data for easy tracking and management

When a critical part is missing for an urgent repair, it becomes just as critical to have a reliable system for tracking that part down. Oftentimes, Maintenance Managers are stuck manually calling other facilities or checking disparate systems for inventory, and sometimes even reconciling inconsistent parts data management and cataloging. Otherwise, they get stuck with costly last minute shipping and vendor fees.

Global Parts Management lets you keep track of your parts inventory using the system that works for you - whether that’s barcodes or unique IDs. This makes it even easier to ensure your inventory levels are accurate and reliable, and accessible all within one modern, easy-to-use mobile and desktop app.

Make smarter purchase decisions with reliable and connected data

Without a centralized and complete view into your parts inventory across your facilities, those with purchasing power can end up overstocking unnecessary parts, buying parts from vendors when a nearby facility has them in stock, or sending parts to facilities that no longer need them.

With Global Parts Management, you can drive efficiency and reduce cost by making the right choice between sourcing internally vs with a vendor, and easily identifying where your parts are needed most across all your facilities.

And with reliable and connected inventory data across your facilities, you can leverage that data via export to perform deeper analysis for more accurate budgeting and forecasting.

Drive efficiency and save money with streamlined inventory management

Effective inventory management is crucial for staying productive and profitable, especially in the face of turbulent economic conditions. With Global Parts Management, you can streamline and centralize your inventory management, all in one easy-to- use mobile and desktop application.

It’s time to say goodbye to inefficiency, and hello to smart savings with Global Parts Management from MaintainX.

Book a demo for your business today.