Managing fleet inventory is an integral yet tedious part of fleet management. It requires a dedicated team to manage inventory.
Wondering where does fleet inventory management fit in fleet management software?
Well, we’ll try to answer that in the following section.
What is Fleet inventory management?
Fleet inventory management involves maintaining the inventory of the parts used in the vehicles and other essentials such as GPS Trackers, hardware devices and SIMs. Inventory management is a huge domain per se, however, in the fleet, it’s limited to just vehicles and related assets.
It’s imperative to understand that fleet management involves much more than keeping tabs on the trips and delivery management. A lot goes behind managing a huge fleet. In order to make sure that the fleet is up and running at all times without any downtime, a lot needs to be taken care of at the backend.
Fleet Inventory Management in the Fleet Management Software
Does fleet monitoring software come with a solution to manage fleet inventory?
Yes!
However, it’s a complete software module in itself but yes, some fleet management solutions offer inventory management for fleets. What does it offer?
Inventory management
Different inventories for different assets. Maintain a different inventory for tyres, GPS trackers, internal parts and vehicles. The software system allows streamlined management of fleet inventory and reduces manual management to negligible.
Stock management
Get every detail related to the smallest part recorded on the software for any time to use. The automation allows you to scan the bar code and all the details start reflecting on the software within seconds. Track the movement of the parts, the timeline and the history thereafter.
Optimised process
The automation minimises the scope of error and optimises the entire process. The managers or the concerned person get notified every time the inventory is getting restocked or is close to going vacant.
Access Management
The best part about fleet management software is that it lets you control the involvement of the employees along the hierarchy. The GPS technician would not need access to tyre inventory, or vice-versa. While the trip managers may not need to have feet inventory access at all. Hence, it’s completely in the hands of the admin to decide who gets access to what features.
Reports and Database
Now that everything is digitally recorded on software, it’s easier t=for the system to generate automatic reports. Therefore, this takes out the added efforts that inventory managers had to make to keep the stock records straight. Get a separate report for each device, spare part and vehicle.
Why do fleet owners need fleet inventory management solutions?
The primary reason is to automate and optimise the entire inventory management process. However, the following are the three main reasons why enterprises consider fleet management software that comes with inventory management solutions.
Inventory optimisation
As we said earlier, the life of a fleet manager becomes a lot simple and easy with software in place. Everything from the data to details and timeline of parts and vehicles is in one place and accessible to concerned persons remotely. It allows instant decision-making pertaining to inventory restocking and replacements.
Reduce costs of spare parts
Maintaining an advanced inventory aids enterprises to work round the clock and reduce downtime as every important part is in stock at all times. The software alerts you when an inventory is close to going out of stock hence, keeping no scope for emergency purchases and saving on extra costs.
Simplify order and purchase of parts
The fleet inventory management software streamlines the order and purchase as the data is right in front of you to make the right call. The managers do not work on guesswork anymore and have a proper to back their decisions. It also, helps you make the predictive analysis by studying the year-on-year data. For example, tires burn out the most in the summer season, hence, the fleet must get some stock extra during the summer time.
Monitor the expenses
Along with automation and optimisation, the software also helps the managers study the part-wise, vehicle-wise, or trip-wise expenses done by the enterprise. Deducing all such data manually would take days to materialise whereas the software does that automatically without having a dedicated person looking into it.
Advantages of inventory management in fleet management software
Once the fleet owners start using the fleet management software they realise what they were missing out on. Software is not a privilege it’s a means to establish your supremacy. The fleet managers who are able to uncover the true potential of the fleet monitoring software, discover the true potential of their fleets too.
Here’s sharing the benefits of fleet inventory management solutions that advanced fleet management software has to offer:
Automatic alerts and updates
The constant reruns of the schedule and the to-do lists in the head can be so tiring for the managers. This also holds managers from investing their complete attention into one thing at a time. Just like their attention their efforts are all over the place. Automatic alerts and updates keep the managers stress-free as they know the software will alert them every time the inventory is running short or there is a sudden requirement for a part.
Saves time and money
Imagine the amount of time and effort the manager can save by just not maintaining reports and making regular updates on the spreadsheet. Having the required spares in stock at all times can save the team the added effort to arrange the out-of-stock part at the eleventh hour and at extra cost.
Transparency of data
With software-backed operations comes credibility as the software is not supposed to be biased or selectively transparent to people. If the data is stored in the system it is up for everybody to see it as it is or not at all. Right from the product id to the date of in-stoke to in use and the entire transitional history is available on the software.
Negligible scope of error
One this that everybody can rest assured of with software is the accuracy of data. If the hardware and integrations are done correctly and the data is stored accurately then the report generation and analysis ought to be flawless. Unlike manual efforts, the room for human errors is minimum.
Conclusion
If you are looking for an advanced fleet management solution that is equipped enough to cater to your custom requirements then TrackoBit is your answer. It comes with a bunch of leading gps tracking software solutions – video telematics, driver behaviour monitoring, route planning solutions and many more.
Get in touch to know more about TrackoBit and the other products they offer.
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