Do You Need a Fast Inventory Strategy?
In our previous blog, we discussed 5 Things to Consider for Successful Spare Parts Management. This time, we’re taking a closer look at whether your business needs a fast inventory strategy, so your field service engineers can get on with repairing customers’ appliances as quickly as possible.
Some businesses have the luxury of time, but when you’re involved in repairing domestic appliances, your customers want their items fixed sooner rather than later. Faulty cookers, boilers and washing machines require urgent attention. So, the faster you can attend to repairs, the better the outcome for your business and for your customers.
But as we’ve already explored, tying money up in spare parts isn’t the most efficient use of resources. After all, and with a few exceptions, it’s difficult to assess exactly which makes and models of appliances are likely to break down over the coming days and weeks.
Inventory software – yes or no?
Automated inventory systems are one way of keeping track of what’s in stock, but many come at a price – and not necessarily one that the average appliance repair company can comfortably afford. As you can’t be sure what your next customer’s requirements are going to be, knowing which spare parts to store can prove difficult.
You could be called out to a boiler repair, to fix a faulty washing machine, or to sort out a fridge-freezer that won’t reach a sufficiently low temperature. And given the variety of appliances available, it’s simply impossible to hold stocks of every part that might be required, leaving aside the fact that some parts may never be needed at all. And who wants to keep obsolete and unwanted parts taking up space in your stockroom?
There’s a general rule of thumb that says business make 80% of their profits from just 20% of their stock. It’s not quite the same for appliance repair companies, but even here you should see some patterns emerging over time. Holding a few items that you know are needed very regularly is well worth it, but for everything else it makes sense to organise time-sensitive delivery options.
Businesses who need to get parts to engineers and customers need to stay cost effective. A successful inventory strategy will enable you to get items to where they’re needed, as and when required. But what if there was a quicker and cheaper way of supplying items? GenRev’s In Boot and Just In Time services are highly efficient and cost-effective solutions.
In Boot deliveries put the day’s parts directly into your field service engineers’ vehicles before the start of the working day, while Just In Time distribution gets the parts you need to your technicians as and when they require them. There’s no fuss, no waste and no unnecessary expenditure – just happy engineers and satisfied customers!
Stay one step ahead with your inventory strategy by reassessing your warehousing needs today. Contact us to find out more about the benefits of our In Boot and Just In Time distribution services.