Are you drowning in data, have excess inventory, and lack visibility and insight of your supplier network? The following three tips could get you started on the path to a more effective Service Parts Management (SPM) solution.
Go beyond manual. Additional technology and enhancements to a service parts organization are integral to driving the right processes within your business. If you’re using manual processes for SPM, demand planning, or parts forecasting, adding technology can can help lessen errors that happen from human hands “touching” data.
Automatically re-balancing inventory based on service demand and use in the field from a parts perspective can lower excess inventory by having the right parts when your customers need it in the field. This can lead to customer satisfaction and help resolve parts and supply issues quicker.
Make data accessible to executives. Provide the right information to key leaders in your organization, such as real-time parts data. This will help them drive strategic decisions and get a better sense from a parts level perspective, ultimately allowing senior management to make strategic, intelligent decisions.
Tie into your supplier network. Provide visibility and insight to your entire supplier network so they can better understand which parts are frequently failing in the field, which parts are coming back, and which assets are going down. From this information, they can better manage service demand and resolve issues in the field.
There are numerous opportunities in the parts side of your business to drive revenue, from better parts pricing to ensuring technicians have the right parts in the field. Looking at the big picture that parts play in your SPM is important to not only keeping customers satisfied but also to drive best-of-class performance in the field.
Need more resources for SPM solutions? Visit our Service Parts Management Toolkit and get the latest on thought leadership, industry research, infographics, and collateral for smarter, better SPM.
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