How Data-Driven Analyses Drive Up Productivity and Lower Parts Costs

Diesel, gasoline, CNG, LNG, electricity and hydrogen fuel cells may power trucks but what powers trucking operations is data. It drives transportation management and business systems that are used to facilitate, streamline and manage operations, drivers and maintenance.

Data is essential for effectively managing parts inventories as well. Today, with supply chain and production challenges impacting parts availability, it can be especially essential. The aftermarket parts shortage is real, leading to long wait times in some cases for replacement parts needed for maintenance or repairs.  Along with impacting customer service, waiting for parts is costly. According to industry estimates, each day of downtime costs a fleet $800 or more in lost revenue.

It’s more important than ever to manage parts inventories, and that’s where data can play a vital role. Here are some of the ways:

• Use VMRS (Vehicle Maintenance Reporting Standards) to track parts data based on service activity. VMRS Codes normalize data by establishing standardized part numbers regardless of the distributor a fleet or service operation uses to procure parts, or even the make and model of the vehicle.  
• Record all data related to maintenance and repairs in one place so you can see the parts you have, their cost, usage levels and orders. Include, along with parts details, information on the vehicle and mileage as well as warranty coverage on parts that were used.
• Use data to predict repair trends and forecast service facility and technician needs, along with inventory requirements. In a time of parts shortages, information about supply issues can be a variable in your analyses that can help make decisions about whether to stockpile parts, find alternative brands for certain items, or search for additional sources outside of your normal vendor list.

Parts distributors with information technology can help

Parts vendors can be a valuable asset, especially e-commerce based sources who have access to inventory that may not be available at brick and mortar locations. With their focus on data-driven systems, those distributors make it easier for suppliers to share information about the location of parts across manufacturing and distribution networks. That leads to more effective sourcing, especially when it can be done in real time.

Information from across an entire parts supply chain is critical for making inventory decisions, especially when it comes to mission-critical and parts that are not routinely carried in inventory.

“E-commerce parts platforms are a means of adapting to changing parts purchasing practices, and they offer continuity in products and pricing through a better buying experience.”

- David Seewak, CEO & founder, FindItParts

E-commerce parts specialists with that focus can serve fleets of all types and repair facilities with a higher level of service. They can assist with identifying and sourcing hard to find and routine parts with a digital repository of information that is interconnected with the entire supply chain, regardless of the manufacturer or parts source. The result is access to availability and enhanced delivery, saving you time and money and reducing downtime for service.

FinditParts is the largest single-source Internet distributor of heavy duty OEM and aftermarket parts. FinditParts is your partner in keeping your heavy duty truck on the road.