A company that has been dominating the safety & security field service industry did not always have a good track record when it came to parts management. Parts management is the process of keeping track of your spare parts to make sure that the organization is incurring the least amount of cost by providing the right parts, to the right place, at the right time while keeping the quality in check. Even if it may sound simple on paper, it actually requires very high attention to details.
To be specific, this company gives safety and security services by providing safes, cameras, alarms, and so forth. With about 130 tasks to manage in a 2 week period, it is safe to say that the company has quite the clientele. They have been enjoying the ease of parts management that they could not avail at one point. So what changed, you may ask. If you look at the current market trend, you will probably be able to guess exactly what can help companies keep track of their spare parts - that is right, a field service management software.
So What Happened?
Part of being a field service provider means that you have to cater to your client whenever they need you - this is how you gain their trust and climb up the ladder in this fiercely competitive market. As for the organization of our interest, it has been doing the same, and somewhere along the way they have managed to gain business traction but started to lose count of the parts they used.
Spreadsheets and logbooks did not cut it when multiple orders started rushing in. Once its demand rose, the planners began preparing the right amount of spare parts to keep in their inventory. Things were going well until they realized that they were incurring losses due to not being able to keep track of their assets. To know how they bounced back, we learned from one of the company’s key personnel:
“Our company has been around for a while but we weren’t always doing great in managing our parts. Being a new entrant in the market, we didn’t know any better to effectively keep track of our spare parts. When we found out exactly how much loss this caused, we started looking for ways to stitch the wound. Obviously using spreadsheets wasn’t doing it for us because the field service agent would have to come back and input the data and that caused human errors and delays.
That’s when we shifted our focus to the game-changing field service optimization software - Custella. We can see all our spare parts at the click of a button. The software lets us see which parts have been used and which ones are redundant. This does not only include our main products such as cameras and all but the little things like nuts and bolts too. You could say that this became a one-stop solution for all our worries related to parts management!”
We can learn from this company that no matter how big of a company you operate, you are bound to face difficulty if you do not opt for automation. After incorporating the application, details related to parts management boiled down to a single source of truth that is easy to operate.
Perks of Parts Management
A field service management application gave them the visibility of their spare parts that they could not get before. Having a spare parts log will enable you to enjoy the following benefits:
Reduced losses: As field service agents visit different locations to serve your customers, they will install your assets such as air conditioners, lights, wires, bolts, and etc. The application will keep track of what items are taken from the inventory and update the log accordingly. This can help you keep track of what parts get used and what remains in your inventory. That is to say, no chance of parts going missing and hurting your profit margin.
Easy classification: Parts management requires you to keep track of each and every part that your company owns. That is no simple task. One of the best ways to manage your spare parts is to categorize them in your parts logbook and an application will help you do just that. That will enable you to be neat and tidy with your work and trace the spare parts that you need quickly.
Convenient stocking policy planning: A big problem within parts management is the planning process. How much to keep in your inventory? What parts are required by our business more than others? And what about the superfluous ones? Your field service management app will keep everything recorded for you to access and plan accordingly. Accurate and relevant data will act as a catalyst for your planners to craft the best stocking policy for your company.
Quality examination: Sure your inventory has the right number of SKUs to carry out your business. But what about their condition? Are they damaged or need repairing? Your spare parts logbook will allow your planners to know the quality of your assets - a surefire way to become proactive in the field service competition and stay ahead of the curve.
Work planning: With all your spare parts recorded within the software, planning will become as enjoyable as getting the work done without any worries. Simply access the UI to know what parts are required for your next task and the system will update the inventory accordingly. Not to mention that the push notifications will keep you and your field service agents informed about the spare parts and get real-time updates.
Seamless supplier management: Once you know how many spare parts are necessary for your inventory, it will help your planners and the suppliers to forecast the demand for the parts and cater to you accordingly. Asset management can actually strengthen your bond with your suppliers.
Shortened downtime: Getting real-time information about your asset means that you will know the condition of your products and make the best use of them as your deem fit.
Better KPI: Indeed, spare part management is an essential indicator of your company’s performance. A field service management application doing all the hard work for your business would boost efficiency by a large margin. That also means a jump in your performance as a whole.
The Backend Matters
While it is true that the service that you provide to your customers indicates your success, there is an underlying implication behind it - the backend matters just as much! Managing your company’s internal process, especially the nitty-gritty ones will set you apart from the clutter and drive you to the road of rejoicing. This company has managed its parts good enough, how is your company tackling it?
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