Importance of Inventory management
Inventory management & identification plays a vital role in the machinery and plant maintenance. Proper identification tags should be used to segregate the oils with respect to their shell life, usage location.
Product labeling can be used to identify the following:
- Purchase & Delivery Date: Label should mention the date of the purchase & delivery date of lubricants.
- Product Name: It should also mention product name, brand, manufacturer
- Quantity: It should also mention the quantity.
- 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 plant and machinery through proper maintenance, storage, marking of lubricants.
Also read: https://www.linkedin.com/pulse/storage-management-oil-products-its-importance-agrawal-mlt-1-/
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