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What is inventory management software?

An efficient Inventory management process involves having one single network for tracking parts, supplies, and other consumables in real-time with unmatched accuracy, detail , and traceability. Today’s CMMS include inventory management software features and functionality to streamline this process with better quantity tracking, loss reduction, shorter order times with suppliers, reduced costs, and overall optimization of facilities management performance.

Why use inventory management software?

Inventory is one of the most important assets of any business because it represents an investment that is tied up until it's used in production and then sold.

Mismanaged inventories lead to:
  • Missing inventory due to loss or theft
  • Incorrect ordering resulting in waste and higher costs
  • Difficulty tracking spare parts and consumables
  • Decreased warehouse organization
  • Frequent delays in shipping and delivery
  • Increased costs and lowered profits
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Benefits of Inventory Management Software

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Improved efficiency

Inventory management software tracks data over time which can be put to use in a variety of ways, making the facility and maintenance operation more efficient.

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Managed inventory levels

nventory managers can refer to CMMS data to ensure inventory levels are where they need to be and materials are always readily available.

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Easy location transfers

CMMS systems use real-time inventory tracking to record all inventory items, empowering users to always know where items are and where they should be.

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Low inventory alerts

CMMS provides low-inventory alerts, ensuring that critical parts and materials are always available and businesses have fewer costly interruptions.

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Reduced equipment downtime

CMMS systems track the spare parts and materials critical to maintain and repair equipment, and alerts maintenance managers when stock levels are low.

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Decreased costs

Inventory managers can use inventory management software to reduce and even eliminatexpensive rush orders.

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Hippo CMMS Inventory Management Software

Hippo’s inventory management software allows maintenance managers and technicians to easily manage their inventory and supplies. It provides real-time information on inventory levels, alerts when parts are low, and order details with suppliers and costs.

Key features include the following:
  • Store information on part number, supplier, images, minimum and maximum thresholds, associated equipment, and storage locations
  • Associate parts with assets and equipment
  • Monitor inventory levels and quantity thresholds
  • Get real time-info on what's in stock and what's not
  • View parts on work orders related to that equipment type
  • Generate inventory reports to alert you of low inventory levels
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KPIs to Track

When you're tracking inventory, you get all the parts information in one easy-to-access locationwith a better purchasing plan and visibility on what has been ordered. With better control of inventory costs you experience less downtime caused by lack of parts and zero confusion on whether you have a part that you need or not.

Good inventory management means never having to rush deliver parts. Once you hit your minimum levels, lead times are short enough to get new inventory in before it's needed. You never hit zero on any part. You're never out of stock. For the last KPI, you want parts to be in stock but not for a long time. It costs money to carry stock, and if you're timing your orders correctly, parts arrive just a bit of time before you need to use them. You're pushing the carrying costs back onto suppliers.

Implementing a new system can be daunting, because it's often hard to know even where to start. But when a maintenance department wants to take control of its inventory, the first steps are clear. To be successful at inventory management, you must maintain up-to-date records of the parts that the maintenance department has in inventory and then make those records accessible to managers and technicians in real-time and from anywhere. A CMMS gives you these capabilities, and over time, all the benefits that can be leveraged from them.

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20-25% of an organization’s budget goes to finding and fixing issues. Learn how Hippo CMMS can help...

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What our customers have been saying...

A EAM or CMMS is ideal for virtually any facility – large or small. From manufacturing plants, hospitals, resorts, stadiums to municipal facilities, Hippo CMMS is revolutionizing how facilities and assets are managed.

The way Hippo CMMS allows us to streamline our maintenance requests and work orders has been huge in saving us time and manpower to complete our tasks. Our maintenance technicians receive prompt e-mail notifications when a work order has been submitted and that allows us to get a jump on things much quicker than we normally would.

Tylar Stauffer
Facility Manager, Golden State Warriors

Hippo has been a great overall experience with our company. We recently implemented this at our food production plant and it has met all our needs. It is very user friendly which was a big part in making a decision. It helps us meet all FDA standards within regards of record keeping. I would recommend this program to another company.

Brady Cummings
Facility Lead, Rolls-Royce Global

Customer stories of success

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Awards and Recognition

Our maintenance management software is ideal for virtually any facility – large or small - from hospitals and resorts to malls and municipal facilities, CMMS is revolutionizing how organizations are managed.

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