Inventory management can be a daunting task, even for experienced field service management companies. Keeping track of parts can be tricky, and if we add all of the new expectations put on service technicians, it can muddy the waters of traditional inventory management.
Luckily, modern day solutions and automation have made it easier for field service management companies to keep track of parts, both on the go and at the warehouse.
So, what is inventory management when it comes to field service? It is a way to manage the supply chain details of the inventory, to help improve processes and increase efficiency. There are many ways to manage inventory and all of them aim to make a field service technician’s job easier.
What are the Benefits of Field Service Inventory Management?
There is a multitude of benefits to having an inventory management system. Inventory management saves time and money while allowing you to fulfill your customer's needs in a quick and efficient way. Not only that, but employed technicians are more productive and effective when they have access to inventory parts management. Investing in inventory management streamlines communication from the field to the warehouse and allows for more transparency across departments.
Here are just three of the reasons we think you should invest in field service management.
Top 3 Reasons to Invest in Inventory Management
Improves Customer Experience
With an inventory management system, technicians can get real time access to tools and information that they need to complete their jobs on the first try. With more access to information, technicians are able to come as prepared as possible which could result in a better first time fix rate.
By increasing your first time fix rate, you are delighting customers while also saving money from having to go back and redo the job. Allowing your field technicians fingertip access to all of the operational information they need will help them in delivering excellent customer service.
Covid-19 has accelerated the digital transformation of field service, so customers have now raised expectations for the quality of service they are receiving. Customer experience is more important now than ever, with 60% of organizations stating that customer service is the top source of differentiation.
By providing quality service every time, you provide a consistent, positive customer experience. Customers will be less likely to leave a company with a good experience and more likely to recommend the services to friends and family. Inventory management can help retain customers and even attract new ones by word of mouth.
Allows for More Productivity
Besides raising customer expectations, the coronavirus pandemic has also forced field service management companies to become more robust. Expectations are higher, so the service quality must be better.
An efficient workforce management company requires many different wheels to be turning at the same time. With so many different touchpoints for a given job, not having an organized way of viewing something as integral as parts will lead to insufficient service. With technicians spending so much time on the road, it is also important for them to have mobile access to securely carry out service functions, any time, any place. Access to something as vital as inventory parts can make technicians more productive and they are able to do their job effectively.
Mobile inventory management allows for more than just access to parts. Technicians are able to see customer data and pricing details, creating a more personalized experience. There is also access to payment forms, making it easy to improve standardization in processes and create a more efficient payment method.
Saves Time and Money
Of course, with every investment a company makes, they are looking to save money and time. Investing in a field service inventory management system will do just that. Technicians will not have to worry about ordering parts that are not needed, as they will be able to see what is available to them. This also allows for all parts at the warehouse to be put to use, rather than being forgotten about and never used.
Inventory management also has the unique ability to allow technicians to upsell parts to customers. Whether they are there for a specific problem or for a routine maintenance check, they can offer to look at other parts and offer replacements or upgrades right then and there. This puts additional cashback into your business and can even save technicians time and money for having to come back a second time just to change a filter.
Since your technicians have presumably improved their first time fix rate and have access to order or upsell parts needed on the spot, jobs will get done faster, which makes the customer happy. In turn, this can increase the lifetime value of your customers.
With the mobility capabilities that ServicePower can offer, field service management companies can thrive in their industry and better manage their supply chain. As the industry continues to adapt to this new normal, field service managers must continue to invest in technology and its employees to ensure the best outcome.
Check out the extensive capabilities that ServicePower has to offer with its robust workforce management suite.