6 Ways to Stay on Top of Your Parts Inventory
A well-managed parts inventory helps can help a heavy-duty truck fleet prevent downtime and save money. Photo: Paul Hartley
">There is little more frustrating than having a truck down and not having the parts on hand to fix it. The breadth and depth of your parts inventory and the way you manage that inventory are critical to having the right parts, when you need them, where you need them.
Parts availability is an important factor in an efficient service value chain, says Javier Ferraez, senior director of product management at Decisiv, a provider of service relationship management solutions.
“Having a well-managed parts inventory is a great way to reduce preventable delays and overall downtime,” he explains.
With parts, it's all about “the right part, in the right place at the right time,” says Edward Kuo, founder of Kuo Consulting Group, a consulting firm that focuses on the heavy-duty truck parts aftermarket. “If a fleet has a good vendor who gets them parts right away, that eliminates the need for the fleet to have a big inventory,” because they will have the parts they need for maintenance and repair when they need them.
Here are some tips to help you do a better job of managing parts.
1. Use VMRS codes
Vehicle Maintenance Reporting Standards provide complete and consistent details about parts use. Ferraez says VMRS codes help fleets identify which parts to keep in inventory and which should be procured on an as-needed basis.
“When fleets consistently use VMRS codes in their operations, they're able to look back at component and usage trends,” he says. “That historical perspective helps them improve parts inventory management and the purchasing process.”
According to the American Trucking Associations' Technology & Maintenance Council, VMRS established a “universal language” for fleets, original equipment manufacturers, industry suppliers, computers, and the people who specify, purchase, operate and ...Read the rest of this story