What is inventory management software?

Inventory management software is a platform that takes the guesswork out of tracking and ordering parts. It makes it easy to see when parts are running low so you know when to re-order them before you need them. 
 

Why it's important

The only way to run a maintenance department is to have the parts you’ll need to perform your work orders. Ordering parts and inventory on an as-needed basis drastically increases downtime and inhibits your ability to complete your work on time.

However, keeping an inventory of parts can seem like a constant balancing act between having too much inventory (and tying up your capital) and delaying work due to lack of parts.

Good inventory management means that you have enough parts to complete your work orders, but not so many that they’re gathering dust and taking up shelf space. It also involves knowing when to order more, and how much to order.

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Who uses inventory management software?

  • Facilities managers in charge of buildings or distribution centers
  • Maintenance managers and mechanics who want to make sure they have enough parts on hand
  • Finance and operations executives who want a quick overview of how inventory is impacting the bottom line

How does ManagerPlus help?

ManagerPlus Lightning has the tools that maintenance teams need to successfully manage their inventory. It does this through allowing you to track inventory levels and set your own custom maximum and minimum levels. When you get to your minimum level Lightning will notify you that it’s time to get more, and tell you how much. It’s that easy.

Lightning can record how much inventory you have and where it is located. Because everything is recorded in one place, you’ll know exactly where to go to get the parts you need before you get there.

When you use ManagerPlus Lightning, your inventory is integrated with your work orders. When you incorporate a part into a work order, it is subtracted from your inventory automatically. This allows you to always have an accurate picture of your inventory.

In ManagerPlus Lightning, inventory management is simplified through integration and better data.

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Benefits of good inventory management

Good Inventory Management softwares bring many benefits. They start as simple as knowing where your parts are when you need to do work or knowing what your current levels of inventory are. As you continue to implement better Inventory management processes, you gain additional benefits like:

  • Preventing accumulation of outdated parts by restricting excess inventory purchases.
  • Reducing downtime by always having the right parts on hand to perform repairs rather than waiting for orders to arrive.
  • Better capital and storage management due to correct back order levels.
inventory management software benefits

When is the right time to invest in inventory management software?

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When you have complex equipment

Industries with complex equipment, such as construction or oil and gas, often need to keep a large number of replacement parts on hand. These parts are often unique and time-consuming to order, which can lead to days or even weeks of downtime if a replacement part is unavailable. Ideally, this system should integrate with your work orders and preventive maintenance software.

ManagerPlus Lightning inventory management

When you manage warehouses or distribution centers

When you have a high volume of items or SKUs going in and out of your warehouses, you need an efficient way to keep track of them all. ManagerPlus is capable of tracking even multi-site locations.

Lightning reduces inventory costs

When you need to reduce costs

Knowing how much of your warehouse space is being used versus sitting empty is essential for managing costs. So is knowing exactly how many parts you need (to avoid ordering too many). Lightning offers transparency to your entire team, so everyone knows what has been ordered.

Features of ManagerPlus Lightning inventory management software

ITEMS NEEDED & ON-ORDER

Having multiple people involved in inventory management can easily create confusion if your system doesn't reflect what items are needed or have been recently ordered.

ITEMS ON-HAND

Inventory management software should show you a complete list of all parts and supplies. It should be easy to search for those items or add new ones.

INVENTORY COSTS

Your system should make it easy to see the total costs of your parts and supplies.

WAREHOUSE UTILIZATION

Storage is expensive. Inventory management software should show you how much of your warehouse is being used so you can optimize your storage needs. If warehouse utilization is consistently low, you may need to scale back on storage.

BARCODE TRACKING

Managing inventory is much easier with barcode tracking. You should also be able to get more detail about any item by scanning a barcode in your warehouse.

INTEGRATIONS WITH PURCHASING SYSTEMS

An inventory management system is most effective when it's connected to the accounting or purchasing software you already use. Learn more about our connectors and open API here.

Pricing | Starting at $135/ month.

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Why choose ManagerPlus

“Assigning parts to work orders is as easy as a quick barcode scan. I can get the maintenance staff the parts they need so they can quickly get back on the job.” 

Kristi V.

Amarillo College

“It is nice to be able to track our assets and parts with very little effort.” 

Ty P.

A-Core Concrete Cutting