Streamlining Asset & Inventory Management: A Success Story

Introduction

In today’s fast-paced business environment, efficient asset and inventory management are crucial for success. G&S, a leading company in the industry, recognized the need for a robust Inventory Management System to streamline their operations. We V TECH SALES & MARKETING proudly share this success story details how G&S successfully implemented an innovative system that not only met their requirements but also exceeded their expectations.

Who is G&S?

KAEFER Integrated Services Pty Ltd (Australia), has officially completed the asset purchase of G&S Engineering from DRA Global in 2022. The purchase strengthens KAEFER’s capability across Australia given the experience that the G&S team bring in delivering mechanical and electrical services across maintenance, shutdown and project works. These services compliment KAEFER’s existing core business, enabling further turnkey capability to be offered to new and existing clients.

Challenges Faced by G&S

G&S operates across multiple warehouse locations and project sites, dealing with a vast inventory of assets and vehicles. Their previous system struggled to provide accurate and detailed tracking, leading to inefficiencies and compliance concerns. Key challenges included:

Inventory Volume: Managing data for approximately 30,000 assets and inventory items was a daunting task, particularly concerning item details, such as make, model, purchase price, and warranty information.
Testing and Compliance: G&S needed to meticulously track testing and compliance data for their equipment, ensuring they met the highest standards to satisfy clients.
Asset Identification: With various assets in their inventory, they required a system that could accept existing asset descriptions and utilize barcoding and scanning capabilities.
Ordering Efficiency: To ensure projects ran smoothly, G&S needed a system that allowed site teams to easily create asset requisitions, with items accurately picked, tested, and packed for transport.
Reporting: Generating comprehensive reports was a necessity. G&S required the ability to produce Excel reports detailing asset allocation, compliance, calibration, usage, and cost actuals.
Scanner & Device Integration: An integrated system to scan assets, record tests, and attach relevant forms was crucial.
Hire Rate Tracking: To manage internal charges and sell rates, they needed the ability to attach hire rates to each item.

The Solution

G&S partnered with us V TECH SALES & MARKETING to develop a tailored Inventory Management System that addressed all their challenges. The system’s key features included:

Comprehensive Data Storage: The system effectively stored and organized data for 30,000+ assets, including make, model, purchase price, vendor, warranty details, registration, VIN numbers, photos, certificates, drawings, testing data, repairs, and service history.
Data Import: Existing asset descriptions, barcoding, and scanning capabilities were seamlessly integrated. Data was uploaded from Excel sheets, providing a smooth transition.
Efficient Requisition Process: The system introduced a shopping cart/requisition method, allowing site teams to create project-specific asset lists, which warehouse teams could efficiently fulfil. This enhanced coordination and ensured compliance with site requirements.
Customized Reporting: G&S could now generate detailed Excel reports, including inventory reports, compliance data, calibration information, fleet usage reports, and cost actuals reports.
Scanner Integration: The system integrated well with Honeywell and Zebra scanning devices, enabling asset tracking from warehouse to project site, test parameter recording, and form completion for future retrieval.
Hire Rate Management: Hire rates were attached to each item, allowing G&S to track internal charges and sell rates accurately.

Results Achieved

The implementation of the Inventory Management System revolutionized G&S’s operations:

Increased Efficiency: Asset management became highly efficient, saving time and reducing errors.
Enhanced Compliance: Testing and compliance data was meticulously tracked, meeting client expectations.
Improved Reporting: Detailed reports provided valuable insights into asset allocation, compliance, calibration, usage, and cost control.
Streamlined Operations: The system streamlined the ordering process, ensuring items were picked, tested, and packed accurately for projects.
Cost Control: Hire rate tracking allowed G&S to manage costs effectively.

Conclusion

G&S’s partnership with us resulted in a highly successful Inventory Management System implementation. This success story serves as a testament to the power of innovation and technology in transforming businesses. By addressing their unique challenges, G&S improved efficiency, compliance, and cost control, positioning themselves for even greater success in the future.