One of the many challenges of managing a field service business is inventory. Inventory tracking by serial numbers is essential when individual pieces of equipment have different manufacturer and installation warranties. This type of tracking can be a massive headache. Then, add in the additional challenge of different inventory in different locations (in vehicles, installed at a customer, and stored in warehouses or workshops), making it nearly impossible to keep track of equipment. Keeping track of it all can seem like a jigsaw puzzle, and all of it affects the bottom line. It is easy to underbill the amount of inventory used. If a field tech uses an item but forgets to mark it down, it won’t get billed and you lose money. Companies that face inventory challenges would benefit from an FSM system that tracks inventory by serial number. IndusTrack organizes inventory this way, making it possible to simplify inventory management by tracking with serial numbers.
Another component of IndusTrack’s FSM software database is tracking what equipment has been installed for a customer, including the serial number and the expiration of both the service and manufacturer warranties. Many companies in the mechanical, electrical, plumbing, HVAC, or construction field need this information to do warranty work, and provide proper maintenance based on equipment type. Keeping track of the parts and equipment through serial numbers from the manufacturer for each customer site, means higher productivity, less warranty work that shouldn’t be covered, and more revenue from upselling extended warranties. It also allows techs going into a job to know what equipment has already been installed at the customer and what has already been done on site in the past.
Receiving & Tracking new serialized inventory
One of the biggest challenges with an inventory tracking system is getting it set up and organized. Entering individual item serial numbers is incredibly time consuming and almost not worth the time. But with the purchase order system in IndusTrack, you can batch import the serial numbers provided to you by your vendor for each purchase order. Then they are ready for use on jobs where a tech can simply select the serial number from the system or the office manager can even assign a specific serial number to the job. When techs come across legacy equipment at a customer which is not already a part of the inventory, it can be simply and conveniently added to the customer’s information under the CRM database.
One System with Serialized Inventory Tracking
Tracking parts and equipment by serial number allows you to track the manufacturer warranties for each part. Doing this allows equipment to be used in order of warranty expiration. This allows you to minimize your exposure for warranty work. You are able to maximize the amount of time that equipment at a customer will be covered by the manufacturer, reducing the chance that you have to eat the cost of the warranty work.
Once the job is completed, the equipment will automatically be added under the customer in the CRM. The FSM database through IndusTrack can also keep track of the equipment in different warehouses, or with drivers and vehicles. All of these components allow for an easier time tracking inventory at every level. IndusTrack helps close the gaps that paper and spreadsheets leave in keeping track of company equipment. If integrated serialized tracking sounds right for your company, switching is easy. You can import your existing customer information and serialized equipment inventory yourself or book onboarding support, and our team walks you through the switch step by step. The software is logical and easy to navigate, so your office and techs can get comfortable with it quickly. Once the software is set up and information has been inputted, the features for tracking inventory with FSM are in place and ready to utilize.