Reducing Asset related costs
When assets fail, it’s critical to get them back up and running quickly. Not doing so can lead to an overwhelming loss in production and a significant increase in cost with repairs. One extremely important process of effectively managing your assets is making sure your inventory of parts is sufficient.
The cost of having parts shipped in an emergency can put a massive strain on any company. Especially for repeated occurrences. Likewise, having too many parts on hand that aren’t being used with more and more of them continuously being ordered is overwhelmingly costly.
The good news is, DigitalThinker has a solution!
With these tools for monitoring and controlling inventory levels, you can automate your purchasing and inventory management. Eliminate overstocking unneeded inventory while maintaining a healthy level of parts that you may need in an emergency.
- Economic order quantity (EOQ)
- Class Calculations and assignments
- Support parts receipts
- Cycle Counts
Infor’s EAM solutions help organizations effectively manage the ordering, purchasing, and management of materials. As a result, budgets are maximized, prolonged interruptions to production are reduced, and managers are happy.
- Reduce spare part inventory levels to save money
- Control purchase order processes to drive pricing efficiencies
- Increase purchasing controls to eliminate unauthorized spending
- Prevent downtime by securing parts just in time
- Track asset warranty information to schedule maintenance and recover costs