Inventory, supply and requisition levels

Inventory levels and procurement time

Index

Editing inventory levels and procurement time

Inventory levels and procurement time can be specified from different modules in the Parts Inventory.

1. From the submenu in the Inventory, Supply and Requisition Levels module

2. From the submenu in the Spares and consumables module

3. In the Spare parts and consumables module, when adding or editing a spare part or consumable in the Warehouses tab.

4. From the submenu in the Warehouses module.

5. In the warehouse module, when adding or editing a warehouse in the Spare parts tab

You may have previously chosen a single part, or a selection of parts.

When the screen is presented, you must click the edit button on the toolbar.

Minimum level: refers to the point where it is suggested to carry out a material replenishment again. Correctly defining this level is essential to avoid running out of stock.

  • A low value can cause us to often run out of stock.
  • A high value makes the cost of our inventory high.
  • It is suggested to sometimes contemplate the problem to acquire the article, the cost of the spare part, or how serious a failure in the equipment can be and not having the spare part in stock.

Optimum level: it is at the level we want to reach when making a purchase. Stocks generally fluctuate between 0 and the optimal level.

Maximum level: It is the level which it is suggested never to exceed. This level can be defined many times by the cost of the spare part or by the space that is needed to store it, among others.

Procurement time: It is the time it takes for a spare part to arrive, from the moment a requisition is generated until it is received in our warehouse. To correctly establish this time we must consider the time it takes us internally as a company until the order is generated, the time it takes the supplier to send the product to us and the time perhaps the carrier, among others.

The procurement time is critical, since, if we elaborate a requisition after this time, it is likely that the point will come where we will run out of stock even after placing an order in advance.

It is recommended as far as possible that, when establishing the minimum levels of spare parts and consumables, the coverage in time of what these stocks would cover us always be greater than the procurement time of each of the products. This in order to avoid setbacks. Later we will talk about the coverage time of the spare parts.

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