Inventory management of raw materials is just as challenging as managing finished goods. Subassembly is an assembled unit which will be incorporated as a component in a larger assembly unit. The subassembly parts may be manufactured by the company, or it might be getting sourced from suppliers.
In both cases, the inventory management are very crucial though different and can influence the production line greatly. GOIS Pro’s web and mobile inventory management application allows you to monitor the movement of individual subassembly unit, regulate their use and control expenses.
Inventory System with GOIS Pro
Inventory system refers to a set of policies and controls that are put in place by the company to monitor the inventory movement and inventory levels and replenish stock after assessing demand. A good inventory system for sourcing subassemblies is important to –
- Stabilize production
- Meet demand in period of replenishment
- Maintain quality standards
- Prevent contingencies such as loss of order
- Stay abreast with the changing industry requirement
GOI Pro has enhanced features that allow the user to streamline their existing inventory system in a more dynamic and secure environment. The primary requirement for inventory system control is monitoring the inventory levels available in the various units, time lag for ordering fresh inventory and inventory maintenance. GOIS Pro can act as your right arm in these activities. The application can be accessed via smartphone or tablet and the data will be updated in real time as the entries are being made.
Costs associated with subassembly unit inventory management are –
- Purchase cost
- Ordering cost
- Inventory carrying cost
- Inventory shortage cost
Inventory carrying costs include the cost of insuring the goods, providing security against loss due to fire or theft, warehouse cost, cost of obsoleting etc. Inventory shortage cost, on the other hand can result in break in production cycle, lack of supply for rising demands, time taken to delivery of fresh inventory etc.
GOIS Pro web application can be used to update current inventory levels, monitor the inventory status of multiple units simultaneously and assess any fresh demand by viewing the larger picture of the overall inventory status.
Subassembly parts are generally sourced from multiple vendors, who specialize in the manufacture of such parts or manufactured in-house. Further, besides the regular vendors, it also becomes essential to maintain healthy relations with backup vendors. GOIS Pro has a comprehensive vendor management feature which you can use to maintain a list of all the vendors with their contact details and option to place a note against them. If fresh inventory needs to be ordered, one can use send an email to the vendor directly from the app.
Subassemblies are important link in a long chain and managing inventory where several subassembly parts have to be sourced and brought together to build the finished product requires an efficient system. GOIS Pro is the ideal inventory management application with features that will meet all the modern business requirements.