Why is stock control so important in field service management?

Effective parts and stock management is vital for any field service organisation looking to deliver a great service. Many field service visits require a part, so if engineers’ vans are not kept stocked with the necessary parts they may be unable to complete jobs. Read on to find out more.

Anyone who manages stock and parts inventories will be familiar with the stock clock. It’s the time an operative spends travelling to collect parts; often prompting secondary visits and ultimately eating into profit margins.

Aberdeen research found that the number one reason for secondary visits is that the technician didn’t have the appropriate parts available to solve the customer issue. This goes to explain why a follow up report from Aberdeen revealed that 45% of service organisations surveyed have increased their focus on service parts management as a result of the added demands from customers to improve service-issue resolution.

This makes sense because the cost of stock imbalance is potentially vast. Firstly, there is the obvious financial impact which quickly accumulates; take an organisation with 100 field operatives as an example. If each technician works on an hourly rate of £25 and loses 30 minutes per day collecting additional parts, the wasted travel time will amass to an <annual cost of £290,000. The inevitable frustrations caused by repeat visits, both for the customer and operatives, will also result in reputational and financial damage.

Hearing these frustrations was one of the driving forces behind the development of Oneserve’s field service management software. We knew it was possible to resolve this costly issue so we included a parts and stock control element in our solution.

Visible to operatives and managers, the functionality provides real-time insight into the availability and delivery of stock. Furthermore, parts are automatically allocated to individual jobs to give accurate costings. With this insight our customers are able to drive down procurement costs, minimise stock levels and improve cash flow – all of which have a positive impact on the company as a whole.

FInd out more about how Oneserve can help you by requesting a demo.