19 March, 2023
How Digital Inventory Management helps Apartments and Large Buildings to control the costs?
Inventory Management is another key area where the apartment or building owners very likely to miss in their day-to-day operations. The list of inventories in a building may start with a 0.5HP pump used for draining out the stormwater to highly critical heavy-duty pumps used for blowers or HNS systems. In a typical apartment or commercial buildings with 300 units or 0.5M sq. ft. of common area, there will be at least 500+ devices deployed including Pumps, Motors, DGs, Lifts, CCTV, Blowers, Filters, Exhaust fans, Monitors, Lights, Fans, Gym Equipment, Fire Extinguishers, Street Lights, Corridor lights, basement lights, etc.
Mostly, all these equipment will be deployed in a redundant form so that at least one equipment will be available at the given point of time and allow the maintenance team to rectify or repair the non-working equipment quickly. For a well-managed building, all these equipment will be maintained in a healthy condition and the operators spend good amount of time in fixing one or other equipment in the system. In today's fast-paced business world, managing such inventory can be a complex and time-consuming task. Most of the cases, these blue-collared workers may not have adequately trained or information may not have passed during the handover time.
Traditional methods of inventory management by updating a common document such as excel sheet or google sheets are no longer sufficient to keep up with the demands of modern business. The adoption of digital inventory management is becoming increasingly mandatory for businesses to streamline their operations and stay ahead of the ever-growing maintenance cost. The whole summary of maintenance history including service details, component replacement history, AMC details, Contacts, specifications, capacity, make, model, etc. are critical in order to decide whether the repair or replacement of the equipment is the right choice. As an owner of an apartment or building, you are the decision maker and it should be your choice to take informed decision, based on the data points you have
TrackBot™ inventory management module helps you to make the right decision at the right time and helps to do proactive maintenance of the equipment.
Benefits of Digital Inventory Management like TrackBot™
- • Complete list of equipment deployed in your premise and define the scope of maintenance.
- • Equipment working condition and status of issues reported. For example, the contactor in a start could be the root cause of a critical pump being in non-working condition.
- • Digital inventory management systems provide real-time data and eliminate manual errors, resulting in more accurate inventory tracking and management.
- • Increased efficiency: Digital inventory management systems automate many manual processes, freeing up time for other important tasks.
- • Better decision-making: With real-time data, owners can make informed decisions about their inventory levels and improve their overall supply chain management.
- • Enhanced visibility: Digital inventory management systems provide building owners with greater visibility into their inventory levels, allowing them to better manage stock levels and minimize stock shortages.
- • Increased cost savings: By reducing manual processes and errors, building owners or association can save money and improve their bottom line.
- • Improve the equipment life thereby saving enormous amount of money spend on equipment replacement or procuring new one very frequently.
In addition to tracking the equipment status, repair history, etc., TrackBot™ also equipped with the Planned Preventive Maintenance (PPM) activities to be carried out on those critical devices deployed. It is also equally important to check the status on a regular interval with the scheduled staff activities list so that, you need not to implement costly IoT solution to track your less costly or non-critical equipment and effectively utilize the maintenance team.
In today's fast-paced business world, it is becoming increasingly important for associations or building owners to adopt digital inventory management systems like TrackBot™. The benefits of these systems are numerous and include improved accuracy, increased efficiency, better decision-making, enhanced visibility, and increased cost savings.
By embracing digital inventory management, maintenance team and owners can streamline their operations, improve their bottom line, and stay ahead of the ever increasing maintenance cost hikes.
