How to Find Profit in Your Inventory Management System

In today’s economic climate, businesses have to think of innovative ways to cut unnecessary expenses to improve profits. It’s also essential to know what your left hand and right hand are doing and whether they’re both working towards the same goals: increased efficiency, elimination of wasteful management systems, and better collaboration between people and teams.

With those goals in mind, an important area to consider for cost savings is inventory management. Do you know how much inventory your company currently holds and where it’s located? Is it tracked accurately and readily accessible to your employees? And what about the costs of storage space and writing off of materials that become obsolete, lost or damaged—not to mention the administration needed to keep track of it all.

If you’re like most utility companies with technicians in the field, you may benefit from the mobile asset and work/inventory management capabilities of Maximo Mobile. This solution from IBM helps ensure that storeroom managers can issue, receive, and track inventory items properly plus adjust assets to changing regulatory, safety and security requirements that improve cost effectiveness and inventory return-on-investment (ROI).

Maximo Extends to Mobile Devices

For your field technicians who require key asset and work-related information, Maximo Mobile combines inventory functions with an easy-to-use mobile user interface, allowing them to perform their tasks where they occur without being tethered to a workstation. (This is great news for the guys who don’t have the time to head back to the office to enter data onsite.) And besides helping to reduce paperwork and manual errors, and delivering more accurate information to the field, here are other benefits:

• Manage storerooms using mobile devices
• Perform physical cycle counts
• Perform full receiving processes, including receipt inspections and asset serialization
• Use bar code and RFID capabilities for inventory tracking and management
• Search for parts by number, equipment, description, or storeroom
• Employ open, scalable technology
• Gain real business and compliance benefits via real-time reporting and monitoring

These are options you need to consider on how to make your company more profitable and efficient. If you’d like to have a further discussion on how Maximo Mobile solutions for the utilities industry can improve your business; please call one of our experts at Intelligent Technologies Solutions at 678-490-3800.

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