Applied® Inventory Management System
The Applied® Inventory Management System was established to assist you in tackling the costs associated with inventory management. This comprehensive program optimizes your MRO storeroom inventory by minimizing your investment and ensuring you have the right parts at the right time.
Stratification Process - Applied has developed a proprietary stratification software that utilizes an A-B-C formula to calculate your minimum and maximum levels based on a predetermined replenishment cycle. The program identifies any excess inventory that may be eroding your profitability. All you have to do is provide a database containing current on-hand levels and issue histories for your part numbers.
Critical Spares - The Applied software provides a listing of your critical spares and highlights the availability, location and leadtime for procuring those items. Parts identified as critical spares may become candidates for a committed inventory. Completing this step will help establish stock locations for these items, whether it’s in-plant or through Applied.
Committed Inventory - Critical spares that are to be stocked by Applied are assigned to the Applied Enterprise Resource Planning (ERP) committed inventory program. This program carries the benefit of guaranteed availability – 24 hours a day, seven days a week, 365 days a year. Not only does the Applied ERP program make those parts available to you whenever you need them, it also stores valuable information about each part’s application. This feature makes it simple for your plant personnel to make repairs in downtime situations.
Surplus Reduction - After your surplus or duplicate inventory has been identified through the stratification process, Applied assists you in disposing of these items. Applied supplies contact information for surplus inventory companies to help you gain a fair market value for items that are no longer necessary in your plant operations and are not in a resale condition. Items that have a current usage history are reduced through attrition. Applied makes sure these parts are not replenished until your reorder level is reached.
Reorganization - Once the proper inventory has been identified and is in place, Applied can make recommendations that will further maximize your inventory investment. This includes assisting you in completing any OEM conversions, standardizing the product brands on your shelves, or setting up an efficient, organized storeroom.
Continuous Optimization - We monitor your usage history, periodically update your min/max levels and identify obsolete or surplus parts to guarantee you always get the most from your inventory investment. This continuous process promises that you will always have the part you need and never be faced with inventory buildup.
With the Applied Inventory Management System, inventory optimization is the goal. Let the experts at Applied help you reach your goal. Call us today at 1-877-279-2799.