11/22/21, 3:25 PM Importance of inventory management

Anshuman Agrawal Mar 26, 2020 1 min read

Importance of inventory management

Updated: Jul 3, 2020

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:

1. Purchase & Delivery Date: Label should mention the date of the purchase & delivery
date of lubricants.

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

https://www.minimacsystems.com/post/importance-of-inventory-management 1/2
11/22/21, 3:25 PM Importance of inventory management

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 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-/

We at Minimac study your maintenance needs and provide the best solution. We

believe in Discern, Design & Deliver.

Call +91 7030901266 for Mechanical Maintenance & Oil Check.

https://www.minimacsystems.com/post/importance-of-inventory-management 2/2