{"id":2634,"date":"2021-01-26T12:04:56","date_gmt":"2021-01-26T12:04:56","guid":{"rendered":"https:\/\/www.chevinfleet.com\/en-us\/?p=2634"},"modified":"2026-01-28T11:02:33","modified_gmt":"2026-01-28T11:02:33","slug":"inventory-management-best-practices","status":"publish","type":"training","link":"https:\/\/www.chevinfleet.com\/en-us\/learning-zone\/inventory-management-best-practices\/","title":{"rendered":"Parts inventory management best practices"},"content":{"rendered":"<section  class=\"content-section animated fadeInUp\" >\n    <div class=\"container container--small  user-content fadeInUp__1\">\n        <h3><strong>Having the right parts on hand when needed is critical for any successful workshop\u00a0\u00a0\u00a0<\/strong><\/h3>\n<p>We share\u00a0our five\u00a0steps towards developing inventory management best practices<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-11867 size-full\" src=\"https:\/\/www.chevinfleet.com\/wp-content\/uploads\/2018\/10\/Parts-Management-Cropped.jpg\" alt=\"inventory manager holding 2 pieces of stock\" width=\"1285\" height=\"530\" \/><\/p>\n<p>Vehicle service, maintenance and repair (SMR)\u00a0is\u00a0a high cost expenditure for any fleet.\u00a0<a href=\"https:\/\/www.automotive-fleet.com\/279691\/higher-labor-parts-drive-up-fleet-maintenance-costs\">Maintenance costs have been rising each year\u00a0with the most recently reported\u00a0increase of between 6-7%\u00a0being attributed\u00a0to\u00a0labor and parts costs.<\/a><\/p>\n<p>Key\u00a0to managing these costs is\u00a0through an effective\u00a0parts inventory management plan. Such\u00a0costs\u00a0can\u00a0account for a sizeable portion of any fleet maintenance management\u00a0budget and\u00a0have a significant impact on overall management and administrative expenses too.<\/p>\n<p>Streamlining parts inventory management can\u00a0have a very positive effect on your fleet&#8217;s bottom line.\u00a0With a few tried and tested inventory management best practices, it can become a driving force in meeting\u00a0overall\u00a0cost\u00a0objectives.<\/p>\n<p>So, where do you begin?<\/p>\n<p>Whether you have a structure already in place or are in the initial stages of development, these five inventory\u00a0management\u00a0best practices\u00a0will set you on the right track.<\/p>\n<h3><strong>Best Practice\u00a0#1 &#8211; Stay organized<\/strong><\/h3>\n<p>Ask yourself &#8211; do my technicians\u00a0know where\u00a0parts can be\u00a0located?<\/p>\n<p>Can frequently used parts be accessed quickly\u00a0to\u00a0keep workshop operations running smoothly?<\/p>\n<p class=\"embed-container\"><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/9Q93jHNouKw\" width=\"837\" height=\"471\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p>If the answer is no, or perhaps a little vague, then don&#8217;t panic! Organizing parts so that fast-moving items, such as those used for service maintenance, can be fairly straight forward. Shelves and storage areas need to be arranged so that components for major system categories such as engines, brakes and electrics can be pulled at a moment&#8217;s notice, allowing technicians to meet repair deadlines and <a href=\"https:\/\/www.chevinfleet.com\/en-us\/learning-zone\/vehicle-downtime-cost\/\">reduce unnecessary downtime and the associated costs<\/a>.<\/p>\n<p>Typically, workshops tend to devote too little time to proper stock planning.\u00a0Making\u00a0time to implement a\u00a0proficient inventory management system creates\u00a0an organized work environment that\u00a0helps workshop managers accurately\u00a0allocate time\u00a0for jobs, thereby improving\u00a0productivity across the entire\u00a0business.<\/p>\n<h3><strong>Best Practice #<\/strong><strong>2 &#8211; Develop\u00a0parts\u00a0knowledge\u00a0<\/strong><\/h3>\n<p>There&#8217;s nothing more frustrating than having a vehicle interval\u00a0service\u00a0or repair delayed because the right parts are not on hand. The depth of your\u00a0inventory and the way that it is managed\u00a0are critical success factors in having the right parts available, when and where\u00a0they are needed.<\/p>\n<p>Similarly, having a high inventory of a particular part that is\u00a0rarely needed is\u00a0wasteful. An\u00a0unnecessary expenditure has\u00a0been made\u00a0and\u00a0and storage space is taken up that could have\u00a0been utilized for\u00a0faster moving parts.<\/p>\n<p>Inventory\u00a0control\u00a0staff require\u00a0a good working knowledge of\u00a0vehicles and their parts requirements.\u00a0Knowing that\u00a0particular\u00a0vehicles follow a parts replacement cycle\u00a0allows for\u00a0efficient inventory planning and control, and far more cost-effective purchasing practices. It also ensures that adequate stock is on hand, eliminating the need for more frequent and last-minute ordering.<\/p>\n<p>Service data from telematics systems can\u00a0provide you with the\u00a0information that will <a href=\"https:\/\/www.chevinfleet.com\/en-us\/learning-zone\/inventory-optimization-challenges\/\">enhance your inventory optimization plan<\/a>, further reducing downtime from service.<\/p>\n<h3><strong>Best Practice #<\/strong><strong>3 &#8211; Integrate your management systems<\/strong><\/h3>\n<p>In order to streamline your parts ordering, returns, billing and payment processes, it&#8217;s important to look at how your fleet management and other software systems are connected. Integration also ensures data accuracy and reduces demands on administrative, finance and other personnel, in some cases even cutting staffing needs.<\/p>\n<p>Using fleet management software in conjunction with inventory management systems can help monitor and adjust stock based on usage and planned upcoming needs. Information on parts used can be seamlessly transferred from repair orders to a central system.\u00a0Purchase orders can then be automatically issued when stock levels drop to a pre-determined quantity. Such\u00a0automated inventory replenishment also minimizes time-consuming administrative tasks.<\/p>\n<p><a href=\"https:\/\/www.chevinfleet.com\/en-us\/integrations\/\">Integrated parts, asset and fleet management systems<\/a> will\u00a0become a valuable source of data on parts failures and items that are not lasting for their expected service life. Through asset service histories, you will\u00a0see parts usage trends that can drive analyses between manufacturers and suppliers and lead to more informed purchasing decisions.<\/p>\n<h3><strong>Best Practice #<\/strong><strong>4 &#8211; Make vendors\u00a0a\u00a0resource<\/strong><\/h3>\n<p>When parts inventory management involves your suppliers, it become much easier to meet your fleet&#8217;s stock needs and establish reordering parameters that help maintain adequate inventory. Their experience across multiple <a href=\"https:\/\/www.chevinfleet.com\/en-us\/learning-zone\/how-to-create-an-effective-fleet-maintenance-programme\/\">fleets can also help identify recommended maintenance programs<\/a> to prevent\u00a0part failures and compare parts from different manufacturers.<\/p>\n<p>With a wider view of the parts market, your suppliers can\u00a0also\u00a0determine which parts provide your operation with the best overall value. That knowledge and experience is the source of finding not just the lowest prices, but also the right parts at the lowest\u00a0cost.<\/p>\n<p>Increasingly, parts suppliers are making it possible to integrate their inventory and purchasing systems within your fleet and asset management solutions. That connection can be very effective for handling emergency parts orders and in tracking warranty coverage on replacement parts,\u00a0streamlining the processing of claims.<\/p>\n<h3><strong>Best\u00a0Practice\u00a0#<\/strong><strong>5 &#8211; Utilize\u00a0inventory management software<\/strong><\/h3>\n<p>Needless to say, any process that becomes automated reduces the risk of human error, <a href=\"https:\/\/www.chevinfleet.com\/en-us\/learning-zone\/managing-your-inventory\/\">minimizing chances of poor inventory management<\/a> &amp; improving efficiency.<\/p>\n<p><a href=\"https:\/\/www.chevinfleet.com\/en-us\/inventory-management-software\/\">Parts inventory management software<\/a>, as part of a comprehensive fleet\u00a0management solution,\u00a0enables the most effective stock control and purchasing practices. Inventory levels can be monitored\u00a0and adjusted remotely,\u00a0based on usage and upcoming needs.\u00a0Visibility of stoked parts is available to all workshop team members which is an asset in itself when determining advanced vehicle maintenance scheduling.<\/p>\n<p>The ability to source and purchase parts and work orders through\u00a0designated suppliers\u00a0once stock levels fall below a set level\u00a0reduces both\u00a0administration time and costs.<\/p>\n<p>Eliminating paper-based and manual inventory replenishment and parts allocation processes, fleet and asset management software streamlines administrative and management practices.<\/p>\n<p>When a parts inventory management system is in place, your fleet&#8217;s shop and technician productivity can rise, boosting asset utilization by returning vehicles to service faster. Opportunities for improved\u00a0asset utilization by returning vehicles to service faster. Opportunities for savings can also be found with information that can be used to develop parts budgets and to make more informed purchasing decisions that will ultimately <a href=\"https:\/\/www.chevinfleet.com\/en-us\/learning-zone\/five-ways-you-can-save-money-on-fleet-maintenance\/\">lower operating and fleet maintenance costs<\/a>.<\/p>\n\n    <\/div>\n<\/section>\n\n\n<section  class=\"content-section content-section--curved content-section--fade-to-grey content-section--big-overlap\">\n    \n    <div class=\"container container--small u-text-center animated fadeInUp\">\n        \n                            <h3 class=\"fadeInUp__1\"><b>You may also be interested in<\/b><\/h3>\n                                <\/div>\n\n    <\/section>\n<section class=\"content-section animated fadeInUp\">\n    \n    <div class=\"container container--no-pad fadeInUp__2\">\n        <div class=\"post-type-wrapper\" data-behaviour=\"featured-slider\">\n                            <a class=\"post-type unstyled post-type--transform \" href=\"https:\/\/www.chevinfleet.com\/en-us\/learning-zone\/managing-your-inventory\/\">\n    <div class=\"post-type__image\">\n                    <img decoding=\"async\" src=\"https:\/\/chevin-assets.s3.eu-west-1.amazonaws.com\/wp-content\/uploads\/sites\/3\/2021\/01\/26110614\/Inventory-Management_LR-440x440.jpg\">\n            <\/div>\n    <div class=\"post-type__content\">\n                    <h5 class=\"post-type__type\">Learning Zone<\/h5>\n                <p class=\"post-type__name\"><strong>Managing your inventory<\/strong><\/p>\n                <p class=\"post-type__more\">Read more<\/p>\n    <\/div>\n<\/a>\n                            <a class=\"post-type unstyled post-type--transform \" href=\"https:\/\/www.chevinfleet.com\/en-us\/learning-zone\/strong-parts-management-key-factor-controlling-maintenance-costs\/\">\n    <div class=\"post-type__image\">\n                    <img decoding=\"async\" src=\"https:\/\/chevin-assets.s3.eu-west-1.amazonaws.com\/wp-content\/uploads\/sites\/3\/2021\/01\/26135233\/shutterstock_216278104-440x399.jpg\">\n            <\/div>\n    <div class=\"post-type__content\">\n                    <h5 class=\"post-type__type\">Learning Zone<\/h5>\n                <p class=\"post-type__name\"><strong>Streamline your parts management and reduce inventory costs with software<\/strong><\/p>\n                <p class=\"post-type__more\">Read more<\/p>\n    <\/div>\n<\/a>\n                            <a class=\"post-type unstyled post-type--transform \" href=\"https:\/\/www.chevinfleet.com\/en-us\/learning-zone\/inventory-optimization-challenges\/\">\n    <div class=\"post-type__image\">\n                    <img decoding=\"async\" src=\"https:\/\/chevin-assets.s3.eu-west-1.amazonaws.com\/wp-content\/uploads\/sites\/3\/2021\/01\/26150943\/IMFI-440x400.jpg\">\n            <\/div>\n    <div class=\"post-type__content\">\n                    <h5 class=\"post-type__type\">Learning Zone<\/h5>\n                <p class=\"post-type__name\"><strong>Using software for inventory optimization<\/strong><\/p>\n                <p class=\"post-type__more\">Read more<\/p>\n    <\/div>\n<\/a>\n                    <\/div>\n    <\/div>\n<\/section>\n<section class=\"c-hr hr content-section u-show-mobile\">\n<div class=\"container\">\n    <hr>\n<\/div>\n\n<\/section>\n\n\n","protected":false},"excerpt":{"rendered":"<p>Use our 5 best practice tips to ensure efficient inventory management<\/p>\n","protected":false},"featured_media":2635,"menu_order":0,"template":"","training-cats":[44],"class_list":["post-2634","training","type-training","status-publish","has-post-thumbnail","hentry","training-cats-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.3 (Yoast SEO v26.5) - 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