Why Should I Keep Track of Supplier and Equipment Records?

Prevent unplanned downtime and use your Bizimply to keep all Supplier and Equipment records digitally! No paper trails and all at hand.
Reading Time: 4 minutes

If you’ve landed on this blog, you’re in the right mindset. You already know you should be keeping track of your Supplier and Equipment records but unsure as to why or how? Just keep reading! 

Have you ever had to close business because a piece of your equipment has broken? 

Unplanned downtime like this is costly to you and your business as well as your employees who might be relying on that shift. IBM enhances this by stating that; “unplanned downtime costs 35% more per minute than planned downtime. 

Companies are often unprepared for unplanned downtime, and when it occurs, the reaction time causes a loss of productivity and money”.

So how can you prevent this and what is the importance of tracking supplier and equipment records?

  1. Prevents a more expensive bill 

With a business operating 5-7 days a week, the equipment will be constantly used and so as normal, be prone to wear and tear. 

Performing routine maintenance will ensure that your equipment is kept to the expected standards and in good working conditions that will eliminate the need for it to be replaced and eliminate that costly bill. It is more beneficial to have these regular inspections and small repairs and keep track of them so you can clearly identify the work your equipment has undertaken. 

  1. Create specialised maintenance programs

Each piece of equipment will experience different working conditions and each product will have different limitations on performance as well. 

With the help of routine check-ups, you will be able to determine and record the standard of each individual equipment with regards to maintenance works. In the long run, having this information will help you in identifying and creating a maintenance programme specifically catering to each individual equipment as well as identifying your preferred equipment brands. 

  1. Helps with warranty claims

Documenting every repair or maintenance work done on your equipment will help you process warranty claims much easier. If you keep a record of all the maintenance work done to your equipment, the date and time any repairs were made to the equipment. 

This will be extremely helpful having this information if one day the equipment unexpectedly shuts down, it will help determine your rights for the warranty claims.

  1. It increases the safety of those operating the equipment

Storing supplier and equipment records will eliminate the risk of possible accidents to operators. If your equipment is well maintained and you are certain of it, you will feel more confidence in your staff when they are using the equipment. 

The risk of the employee suffering an accident when using the equipment is reduced. Keeping track of the equipment maintenance history is a good way to ensure you are up to date with the health of the equipment and will notify you as to when the next maintenance inspection should be scheduled. Also, your equipment is safe to use and work with. 

Supplier Management Software
Supplier Management Software

5. Accountability 

You might have a big team using the organisation’s equipment, whether working in a factory or in a kitchen there will be multiple members of staff using the equipment to fulfill their jobs. Keeping track of each user and shift times will help you identify who may be responsible for any impact or damage done to the equipment. Making your employees aware of this will encourage them to look after the equipment and use it respectfully and responsibly. 

6. Resale Value

Tracking supplier and equipment records will always be beneficial but in particular if you go to sell the equipment. Having a detailed record of all maintenance checks and repairs done to the piece of equipment will mean the equipment will have a higher resale value. It will also reassure the buyer that the equipment they are potentially buying has been looked after properly. 

They will assess the equipment physically before purchasing but they will also want to see these records to identify if there would be any potential issues with the equipment. You should reiterate this factor to all your employees to ensure they are aware of the reasons as to why you record equipment maintenance history. 

How does Bizimply help you keep track of your Supplier and Equipment records?

With Bizimply’s equipment tracking software, you can easily record important operational information online – no more paper trails to follow when searching for warranties! Storing all these records in our cloud based system is the easiest way to store and access this information at any time. You can;

  • Digitally log serial numbers, descriptions, and warranty information.
  • Link equipment to supplier profiles in Bizimply.
  • Instantly Log Incidents and Maintenance Issues

Got a malfunctioning coffee machine in store? Let business owners and managers know the situation with easy to use equipment tracking software. Never leave shift managers in the dark again and react before crisis strikes.

You can track team and supplier accountability – record who was involved and what actions were taken. This is important to have the right people involved and get to the bottom of any situation quickly. Mark issues priority to keep your team up to speed with the situation’s urgency.

Not sure how to track your suppliers and identify which you prefer? Keep Supplier information close at hand with Bizimply. Cut out the paperwork when searching for supplier contact details – keep track online of what each supplier provides, how to contact them and more with Bizimply’s shift management software.

Speak one of our solutions advisors today and get a review of your business! Book in here!

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