Key Challenges Industries Face in Equipment Management & How to Overcome them 

Equipment management is a complex task, including equipment maintenance, installation, and inspection. It is common practice across industries like OEMs, construction, food equipment, post, packaging, etc. Equipment management has become quite demanding since every organization has various assets and equipment and managing them simultaneously is not an easy task.

In this blog, we will mention the key equipment maintenance challenges organizations face.

Most Common Equipment Management Challenges

Equipment Management Challenges
Time Consuming & Error-prone Manual Processes

Manual equipment management increases the chances of mistakes. For example, even a small error in data entry can cost an organization significantly. Organizations usually maintain a spreadsheet for data entries, but they are vulnerable to errors. Equipment inventory management demands accurate data and must be managed smartly using field service construction equipment inventory management software. 

A reliable field service construction equipment inventory management software equips businesses to find the exact part easily and equipment required instantly, without any scope of error. 

Equipment Tracking

Tracking different equipment is another main challenge faced by businesses across industries. Equipment parts are continuously moved from place to place, due to which there are high chances of theft and misplacement. When equipment is misplaced or lost, it badly impacts the daily operation, reducing the overall business productivity.

A mobile inventory tracking system can help businesses save time by finding the exact location of every part within no time. 

 

Irregular Maintenance Expenses

Organizations spend a lot of money on maintenance every year. When equipment and assets are not managed properly, maintenance is not done as scheduled; it can be quite expensive for the organization by causing an unexpected equipment failure. 

This is prevalent in the construction industry, in which assets and equipment continuously move from one place to other. Also, equipment and asset in this industry are used for performing a lot of heavy work, due to which they need high and more frequent maintenance. Improper maintenance can prove to be very expensive for construction companies as it directly impacts daily work, which can lead to missed deadlines and disappointed clients.

Also, when a piece of equipment fails, organizations must restore it immediately to reduce the aligned costs, all of which demand proper equipment management.

With the predictive and preventative maintenance feature of trusted equipment maintenance software, OEMs, construction companies, and other businesses can regularly monitor their equipment’s condition to sustain maximum uptime proactively. An equipment maintenance software also sends automated notifications to schedule maintenance to avoid potential equipment failure.

What Businesses Should Do to Overcome Equipment Management Challenges?

To overcome the various equipment management challenges, businesses must invest in a field service management software like FieldEquip with in-demand features like equipment maintenance, equipment inspection, scheduling and dispatch, tracking, etc. 

Such software can help businesses automate processes to avoid costly errors, eliminating the need to maintain spreadsheets and keep data accurate. It also protects businesses from potential equipment or asset theft and misplacement, saving them money. 

Its predictive and preventive maintenance feature ensures businesses never miss regular maintenance and can easily avoid potential expensive asset and equipment failure. It automatically alerts businesses of upcoming asset and equipment maintenance. It also helps businesses easily track expensive assets and equipment spare parts, reducing their expenditure. Nevertheless, it drives the performance of the equipment with on-time and well-scheduled maintenance. 

How does FieldEquip Field Service Management Software help Industries Overcome Equipment Management Challenges?

Overcome Equipment Management Challenges
Stay Informed about Equipment in Inventory

Many businesses across industries, specifically the construction industry, must know what equipment, spare parts, and assets they have in their inventory and how can they utilize them well. Lack of it can lead to reduced productivity. FieldEquip field service management software comes with in-demand features such as construction equipment inventory management module, inventory management features, etc., which allows businesses to view parts in inventory quickly. Its equipment, asset, and parts inventory tracking system ensure that technicians have the right parts, helping them work more efficiently.

Know-How An Asset is Used

Supervisors across industries must always be informed about how the assets available in the inventory are being used, how frequently they are used, and their maintenance schedules to make better and informed decisions for optimum efficiency. FieldEquip’s field inventory management helps industrial equipment manufacturers ensure that the right part is available at the right place at the right time. 

Optimize Inventory Management

Improper inventory management can prove to be quite expensive for a business. Thus, businesses need to ensure that they have the right quantity of equipment, asset, and spare parts in the right place at the right time. FieldEquip’s next-gen inventory management software provides round-the-clock information on inventory with inventory level of multi-located warehouses of businesses, ensuring easy and optimal inventory management. 

Avoid Inventory Issues

Inventory issues like overstocking and understocking can badly impact the business growth as having excessive inventory is a problem and similarly, not having sufficient equipment inventories is also an issue. Thus, it is important for businesses, especially in the construction and infrastructure industry, and for industrial equipment manufacturers to keep track of inventory so that they are always aware of inventory count. FieldEquip field service management software alerts businesses when inventory is low in stock, so that the manager can start the refilling inventory process, avoiding any potential risk of out-of-stock issues.

Manage Inventory Properly
Prevent Equipment Failure

Equipment failure can cost a business heavily. Thus, they need to keep track of asset maintenance to avoid potential loss. In case of equipment failure, the daily operation gets impacted badly, which can prove lethal for businesses by causing a delay in delivery, resulting in disappointed customers.
 
Additionally, equipment failure results in an expensive repair, which can directly impact the organization’s bottom line. Regular maintenance is more cost-effective than sudden asset failure maintenance. FieldEquip allows supervisors to schedule maintenance and alerts and notifies them about the scheduled maintenance, helping them save unnecessary expenses.

Reduce Unnecessary Delays 

The field inventory management feature of FieldEquip helps OEMs, construction companies, and others reduce unnecessary delays by enabling them to create stock transfer requests easily by using the mobile app. With its field inventory mobile app, they can seamlessly find the correct part by locating it in time. This helps companies work more efficiently by reducing miscommunications of outdated information and locations, driving business growth.       

Spare Parts Management 

FieldEquip’s Field Service Management Software allows industrial equipment manufacturers to automate various processes by digitalizing data capturing, data relating to labor hours, travel, parts consumption, and other work order-related expenditures to invoice customers faster, preventing any payment delays.

Spare Parts Inventory Management Software

Conclusion 

All field-based industries face equipment management challenges, but they can be tackled easily using the right tools. Construction equipment inventory management software is a game-changer for businesses as it enables them to know what equipment they have and equipment location, helping the organization become more productive. With these capabilities, businesses can maximize the value of their equipment and steer business growth with always on-time delivery for exceptional customer experiences. 

Reach out to FieldEquip today for a future-proof equipment maintenance software. They have been empowering businesses with digital field service innovation. Increase your business operational efficiency and address workforce skill gaps by leveraging FieldEquip. The field service management software helps businesses get equipment information at the fingertips of their field technicians. FieldEquip works online and offline and thus equips technicians with remote diagnostic and analysis capabilities through its EquipConnect IoT edge gateway.

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