The Importance of Parts Management

With everyday demands growing, parts management may not always be top of mind. Knowing your inventory keeps operations running as efficiently as possible, and creating a system for effectively managing inventory is essential to asset management.

Inventory management can be costly—just as costly as the parts themselves. The American Trucking Association’s Technology & Maintenance Council reported during its 2022 annual meeting that parts costs are on the rise. Reasons for the increases vary from record inflation to supply chain issues.

Some companies are developing new approaches to managing and sourcing inventory to offset rising prices. We know this can be a daunting task. A misstep could cause problems like premature part failure, which could lead to costly roadside assistance, potential vehicle damage, and increased downtime, affecting carrier revenue and profitability.

Inventory management solutions aren’t cookie-cutter. Each company will have unique needs to consider before finding the best strategy. Developing a maintenance and management program for in-house parts management can pose challenges for some businesses due to time or resource constraints. For some, outsourcing these services makes more sense.

Though fleets approach parts management differently, here are a few tips that could help.

Have an understanding of VMRS codes.
VMRS codes have standardized part numbers regardless of the dealer or distributor used to acquire parts. VMRS codes establish a “universal” language for fleets, original equipment manufacturers (OEMs), industry suppliers, computers, and the people responsible for specifying, purchasing, operating and maintaining equipment.

Record and maintain your company’s data.
All data related to maintenance and repair events should be in one accessible place. This allows you to see all the purchased parts, cost, use, and current orders. Additionally, include information on the vehicle year, make, model, mileage and engine hours. These maintenance records and vehicle information are vital data sources, as they can help identify wearable components on hand and prepare for the possible purchase of breakable components in the future.

Work with trusted parts vendors.
Parts vendors, whether dealers or distributors, can assist in obtaining and delivering inventory. TVC Pro-Driver has partnered with FleetPride, which specializes in selling parts and providing services for heavy duty trucks and trailers. FleetPride sells more than 260,000 heavy duty truck and trailer parts from the most recognized, quality-built brands.

TVC Pro-Driver strives to offer tips and solutions to help companies protect their time and bottom lines. For more information on any TVC’s available resources, email us at sales@prodriver.com.

By Nick Hillesheim, Chief Sales Officer