August 27, 2015 Ian Uriarte

Is There A Better Way To Manage Inventory?

Overseeing the inventory for fixed and mobile assets in an organization is a lofty responsibility.

In an asset-intensive organization, managing inventory often goes beyond having keeping track of buildings and equipment, it also involves machinery maintenance, repair and replacement along with maintenance of infrastructure, physical plants and rolling assets.

Managing assets and inventory using manual methods in an organization of any size is an inexact science. Using pencil and paper, phone calls and emails, spreadsheets and calculators is a time-consuming and error-prone process. Still, you know you could improve your organization’s bottom line if you could just get a handle on its assets and inventory — where is everything, who’s using what, when is a piece of equipment available, what does a production facility need?

Further complicating oversight of these multiple components is the complexity of today’s technologies, which often involve multiple applications and an avalanche of data. Organizations rife with silos make managing assets and inventory even more challenging; communication organization-wide is more difficult and efficiency is minimal or completely eliminated.

Wouldn’t it be great if there was an automated way to have real-time visibility into your organization’s assets and inventory?

There is such a solution. IBM Maximo Asset Management offers a single point of control throughout your organization’s physical and mobile assets. Whether it’s a production facility in another state, a vehicle across town or a generator in the basement of the building where you work, Maximo lets you monitor and track activity occurring across your organization.

Maximo is a real-time solution that provides graphical insight into your organization’s assets and inventory through an easy-to-use dashboard. Maximo records data from the assets and inventory in your organization, allowing you to see at any point in time where an asset is, how it’s being used, what parts have been used in repairs in the past, what parts are currently available should an event occur and where those parts are located.

With Maximo providing unprecedented visibility across your organization’s enterprise, you’re able to better manage inventory levels allowing you to take advantage of opportunities for streamlining usage and distribution. Data recorded in Maximo also allows you to optimize purchasing and reordering; by supplying your with a record of parts inventories, costs and usages, you’re able to be more proactive in controlling expenses and better prepared when inventory is needed.