Inventory management is a crucial area where any kind of mismanagement or data error can affect the entire project lifecycle manufacturing process and the supply chain process. As it is burdensome for a business owner to maintain contacts with the suppliers/vendors and to keep a check on the stock in the inventory, all while handling the heavy processes of manufacturing and distribution, it becomes a wise option to take help of facility managers.
A facility manager, specifically appointed to handle these procurement and storage operations, makes sure that all kinds of replenishments are in place for the proper execution of the project. Here, we will discuss about the benefits of going for facility management service providers for procurement and storage operations.
Computerized inventory: Facility managers help in maintaining a computerized inventory. A computerized inventory helps in easy organization and retrieval of the procurement and storage details of the inventory. A facility manager with the help of customized inventory management software will track the details regarding the inventory rotation, inventory control, and racking and shelving of raw materials in the ware houses.
Just-in-time delivery: Just-in-time delivery system is a cost-saving option as it reduces your downtime costs. This system needs an efficient, reliable and well-planned transportation system to get the right products at the right time. In case of even a small mismanagement, the raw materials will not be able to reach the warehouse in time. And with very less time to recover the raw materials, the entire production and supply chain gets affected. Hence, a facility manger handles this system quite efficiently by making use of integrated transport systems and also by dealing with numerous suppliers.
Barcode systems: Application of barcode systems in storage and procurement operations has revolutionized the inventory management. These barcode systems help in the automatic identification of the inventory objects. They help in recording the inventory transactions by tracking every item with ‘in’ and ‘out’ details, expected service life of every time, etc. Due to these features, barcode systems have found to help greatly in making better stocking decisions and have significantly reduced ‘out of stock’ issues.
Vendor/supplier management: For a better inventory management, maintaining a good supplier and affiliate relationships is very important. Having dealings with all the related suppliers will give a business wide choice (both for price and quality). These kinds of close relationships with vendors will also help in procuring the raw materials easily in case of the unexpected demanding environments. Facility managers are trained in these aspects of acquiring and maintaining the suppliers.
Reduce inventory maintenance expenses: A computerized and highly sophisticated inventory needs less maintenance as it helps in maintaining optimal supply levels. Most of the stock that needs to be stored is bought just-in-time and is not stored in the inventory for long time. This kind of processing of stocks makes it easy to handle and maintain the inventory, without having any kind of additional expenses associated with long-term maintenance of goods.
Cost-saving: A facility management service may seem to be an extra expense for a business. But, in fact, they help in reducing the costs significantly. As these companies handle the procurement and storage operations of various businesses, they buy the raw materials in bulk at highly discounted prices. Hence, even your business can benefit from these discounts and can get the required materials at much cheaper rates.
A good facility management company has an industry-specific expertise and performs its duties through proven methodologies, techniques and tools. It adopts a stream-lined and comprehensive procurement method which assures increased efficiency and significant cost-savings for your business.