Importance of Inventory Management

Inventory management & identification plays a vital role in machinery and plant maintenance. Proper identification tags should be used to segregate the oils with respect to their shell life, and user location.

Product labeling can be used to identify the following:

1.?Purchase & Delivery Date: The label should mention the date of the purchase & delivery date of lubricants.

2.?Product Name: It should also mention product name, brand, manufacturer

3.?Quantity: It should also mention the quantity.

4.?Storage Location:?It should also mention the storage location of the lubricants.

The products should be used in the same sequence as they are brought into inventory.

(1)?FIFO: First in first out- lubricants should be taken into usage according to the date they are brought into the storage house.

We can enhance the life of plants and machinery through proper maintenance, storage, and marking of lubricants.

Also read:?https://www.minimacsystems.com/post/importance-of-product-storage

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