Re-Usable Items in Inventory Management

Today I am sharing a profitable idea in inventory management by which you can save lots of money of your companies. During my professional career I learn a practice of “Re-Usable Items” in an energy sector. I was the part of inventory management in energy sector and this “Re-Usable Item” practice save a huge amount of my company. By using this practice you can save your purchasing, searching, and space.

What is “Re-Usable Items” practice?

Basically this is practice is focusing on your efficiency. 

For example: 

“I am quoting here an example of energy sector where I learn and gain this practice.”

If any item/part/spare is alarming of fault, so user want to replace it on urgent basis for saving production losses. In any organization/company actually you must be need to resolve the problem without losing a minute, so at this time you can not verify the fault of that item/spare/part. Simply you need to replace this part. It OK! But when you finished your job and remove the fault of machine or after completion your job and resolve the problem from machine you can check and verify the fault of that faulty part/item/spare.

In easy words I suggest you that every item/part/spare never loses its complete functions, if there is something went wrong in any item/part/spare so that mean there is a problem in this part, not complete part is faulted. But for time and production loses saving you need to replace this item but after replacement you must be check and verify the fault of that faulty spare/item/part. If you have not enough time to do this practice so you can return this item to your store/warehouse in repairable condition. Store/warehouse can store this item/part/spare in a separate store. In our energy sector we have design an area for storage of “Re-Usable Items”.

For a standard and good practice you need documentation or record keeping in every step. Just like when you want to issue an item from store so you must be submit an issue note, debit note, etc in store. So for returning the faulty item/part/spare in store you need this practice too. After submitting your faulty part/item/spare in store you set a timeline after peak season of your production for proper check and repairing activities of that faulty item/spare/part. If your part/item/spare can be repaired by user so re-issue it from store against a document and after repairing you can re-submit this item in store in usable condition or if this item/spare/part cannot be repaired so user can submit this item/part/spare in store in scrap condition then store scrapped these items according to their timelines and practices.

Store can be record these all transactions in their respective systems SAP, Oracle ERP, QuickBook, PeachTree etc, I have also design a program in database with the help of VB. If anyone want any help in this respect so you can mail me with your opinion and requirements. 

A simple introduction of my VB application related to “Re-Usable Items” is here.