Parts management is the process of overseeing and controlling company-held inventory of machine parts and components.
It involves the organization, storage, and distribution of parts, ensuring that they are available when needed for production, maintenance, or service. Effective parts management helps minimize downtime, reduce holding costs, and optimize inventory space.
It encompasses various activities, including inventory tracking, forecasting demand, replenishing stock, and managing supplier relationships.
Utilizing tools like Katana can significantly enhance parts management by providing real-time visibility into inventory levels, streamlining operations, and facilitating better decision-making.