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Inventory Management: Managers Need Time, Resources
OTHER PARTS OF THIS ARTICLEPt. 1: This PagePt. 2: Best Practices for Supply-Chain and Inventory ManagementPt. 3: Inventory Management: Bins, Shelves, Racks Create Efficient StoreroomsPt. 4: Best Practices for Stocking MRO PartsPt. 5: Inventory Management: Implementing Bar-Code, RFID Technology
Maintenance and engineering managers face a host of challenges in overseeing the operations of institutional and commercial facilities. Pressures related to expansion requirements, rising utility costs, increasing labor costs, and tightening maintenance budgets are only a few of those challenges.
Managers also must work to ensure that they apply appropriate technology to current and future needs and that they are responsible for working closely with all departments and external organizations to establish direction, focus, and priorities so front-line technicians can complete their work in a timely, cost-effective manner.
Most of these activities require two essential resources: time and materials. So, one of the challenges for managers is to know the products and equipment they must specify, including the quantities, storage considerations, sources, and costs.
Many organizations do not have an efficient management system in place that effectively tracks purchasing activities, captures history, controls the storeroom, and manages suppliers. The ones that have successfully implemented a materials storeroom operation have achieved the goal of many managers — materials-management excellence.