Spare Parts Inventory
Spare parts inventory should be an integral part of most plant maintenance systems. But often, the resources are not available to manage what can be an expensive cost to the organisation. So in FlexMaint™, we have tried to keep the inventory process as simple as possible. You have the choice to use just a Code and Description for parts, and with stock movements just manage incoming stock quantities. Work orders manage the outgoing movements. In this case you use one warehouse and one bin, for all stock. That is probably the simplest form of spare parts inventory.
Beyond that, there are a few other operations you could include. For example, assign bin locations for individual (1 part, 1 bin) or groups of parts (many parts, 1 bin, or shelf). This can assist in finding items easily as the bin location would be included on the work order. Physical stock checks would then be simplified using a paper print-out or better still an ordinary tablet. Note that FlexMaint has one list screen allowing you to edit actual stock, minimum and maximum stock levels and a total revaluation of stock in hand.
Should reports on parts type, usage and criticality be relevant, these fields can be turned on and used in reports. A step further could include part suppliers, net and discounted parts and lead time. But only turn these fields on if you are going to use them.
The FIFO accounting practice has been incorporated into the FlexMaint™ CMMS Stock Inventory System and this facilitates the management of inventory on a first in first out basis. This is commonly used to ensure the correct accounting practice in respect of stock valuation. By using relevant currencies and prices when receiving deliveries, you could have parts costings by usage on any asset or group of assets, type of part, in one or all warehouses, and all time based for analysis.