Inventory Management for the Utility Industry

  1. utility industry symbols

A recent study was conducted to determine the current state of warehouse and inventory management operations throughout the utility industry. Companies were asked about their inventory visibility and segmentation, stock level criteria practices, and safety stock level determinations. Although utility companies recognize the importance of inventory management, 60% reported poor inventory optimization performance. So what can be done to improve inventory management practices in the utility industry?

 Why is Inventory Management Important in the Utility Industry?

Inventory management is important for the utility business because of irregularity throughout the industry. Continuous changes and unpredictability make managing inventory difficult. Products and services vary depending on the specifics of the service calls, and it’s essential that every vehicle and technician have the correct inventory. Using traditional paper inventory tracking is prone to errors and is not efficient. They require manual updates that are labor intensive and are not updated on time.

Utility companies face multiple issues affecting their operations every day. However, the most important aspect is providing and delivering their service the first time, and on time. This means that they need to have the right inventory on hand and must keep organized. It is essential to maintain accurate information about where your inventory is located and to ensure vehicles are loaded with the necessary products they need to complete each and every job.

What Are Some Reasons the Utility Industry Needs Inventory Management?

For utility companies, it is critical that field workers complete their job right, the first time. This means that workers need to arrive with the right equipment, tools, and parts, so that they can be as flexible and responsive as the job demands. Utility companies need to have an inventory system that can keep track of their operations. By being able to manage inventory from end to end, utilities can make sure that the most critical pieces and tools make it to the right destination, eliminating delays and lowering costs.

Utility companies have relied on manual inventory tracking, but in today’s fast paced setting, that doesn’t cut it. In order for utility companies to keep up with the demands and the competition, they must optimize their inventory and system.

How Clear Spider Helps

Clear Spider’s system offers many benefits that will ensure your field technicians can get the job done the first time! Our field service inventory management will help improve your current processes. With our system you gain real-time visibility of items stored at all locations, whether in a warehouse or on a service vehicle. Using our mobile app allows you to see all of your inventory information on the go. You can make changes, get updates and optimize storage space, record transfers, as well as gain full audit capabilities to keep track of all of your data.

Our system includes many features for both the front office, as well as the technicians. Your front office can set custom roles for each user, have full visibility and traceability, as well as manage inventory across locations. Clear Spider’s system also makes it easier for service technicians to keep track of defects and returns. The system is user friendly, and it is compatible with Smartphone’s to allow users to see it from anywhere, at any time. Inventory visibility ensures that all the necessary parts and equipment are on the right vehicles, going to the right destination. This reduces or eliminates delays and added costs.

Summary

The utility industry is always changing and is sometimes unpredictable. So having a strong inventory management system ensures that all of your products are where they’re supposed to be. This allows you to make decisions based on what best serves your customers, the work force, and keep costs low. An efficient and flexible inventory management system ensures your company is prepared for any challenges that come your way.

 

To see how Clear Spider will help your company, schedule a demo today!