Traditionally, automated inventory management systems (and inventory management itself!), have largely been associated with and designed for wholesalers and retailers that hold and turnover stock. However, inventory management extends much further than just goods sitting in a warehouse or store. To put it simply, inventory management is a crucial part of every single business. 

For industrial businesses, such as engineers, earthmovers and manufacturers, inventory consists of raw materials, equipment, tools, PPE gear and other components utilised for business operation. All components that are both valuable and critical to their business. So it’s only fitting that over the years, automated inventory systems, such as industrial vending machines and industrial lockers, have started to emerge for a wider scope of businesses. 

So why are so many industrial businesses turning towards automated inventory systems? We dive into the 3 key benefits of automated inventory systems.  

1. Takes inventory management off your plate

For business owners and managers, perhaps one of the most attractive benefits of implementing an automated inventory system is that it is no longer their problem. Once the system has been set-up and running, it has the capability of carrying out all the vital steps of inventory management:

– dispensing inventory to users

– monitoring stock levels

– reordering inventory

– creating reports

This saves endless hours of manual labour usually invested in inventory management, freeing up the business owner/manager and/or other staff members so they can get on with their real job, thereby increasing productivity.  

2. Reduces Costs 

Automated inventory management vending machines are equipped with smart asset management software technology which allows them to monitor stock levels and ensure they’re maintained at the required level. This means business owners don’t overspend and tie up money unnecessarily on stock they don’t need. 

But that’s not all. Automated inventory management systems help eliminate (or at least reduce) the costs business incur from loss and damage of inventory. Keeping items such as tools, PPE gear and other valuable items locked away securely means less chances of items being damaged, misplaced and stolen. 

As the vending machine has technology that monitors which items are dispensed and by who, there is higher accountability, meaning staff members are more careful when utilising items. This means businesses no longer have to keep replacing items, saving them potentially thousands of dollars a month! 

3. Real-time Reporting

Automated inventory management systems monitor inventory levels consistently and provide real-time reports to management.  Having access to accurate reporting and information is key to any successful business. 

The reports enable business owners/managers to reorder stock quickly as well as make better business decisions, in regards to inventory forecasting and planning. This in turn allows the business to operate more efficiently and improve supply chain timeframes – forget frustrating prolonged hold ups on client projects due to key inventory items being out of stock, missing or damaged. On-time delivery = happy clients. Happy clients = continued business.  

Automated inventory management systems shouldn’t be thought of as a nice-to-have’ option. As we’ve illustrated above, they are critical to any business wanting to operate more efficiently and can have a substantial impact across the board. 

Still need convincing? Check out how automated Stock Locker inventory management vending machines have been successfully implemented into businesses within the engineering, earthmoving, manufacturing and mining industries.