Warranty tracking software

What is Warranty Tracking Software?

Warranty tracking software, a crucial component of a Computerized Maintenance Management System (CMMS), empowers maintenance teams to streamline the management of warranties related to industrial equipment and supplies. By digitizing warranty data, this software allows organizations to effortlessly sort, share, and be alerted to key warranty milestones.

Key information available in a warranty management system:

• Detailed warranty contracts, coverage, and agreements
• Records of warranty claims
• Equipment purchase dates and warranty expiry alerts
• OEM maintenance guidelines
• Logs of maintenance, repairs, and equipment usage
• Documentation of contractor work and invoices
• Inventory purchase records

Types of Warranties Covered

A robust warranty management tool supports tracking for:

1. Fixed assets (e.g., compressors, bottling machinery)
2. Rotating assets (e.g., motors, pumps)
3. Essential parts and supplies (e.g., fans)
4. Advanced hardware and devices (e.g., sensors, SCADA systems)
5. Hefty machinery and vehicles (e.g., forklifts, excavators, trucks)
6. Safety equipment and PPE (e.g., harnesses)

Types of Warranty Tracking Software

1. Computerized Maintenance Management System (CMMS)

CMMS software, encompassing a suite of maintenance features, aids in efficient warranty management. It offers integrated tools for work order handling, analytics, and inventory control, making it an all-encompassing solution for maintenance teams. While CMMS might not provide exhaustive warranty management features, it helps document needed activities for warranty claims.

2. Specialized Warranty Software

Tailored explicitly for warranty management, specialized software provides comprehensive and customizable tools. However, it usually requires complementary systems for other maintenance needs.

3. Enterprise Resource Planning (ERP) Software

ERP software is a comprehensive solution, not just for warranties, but for overall asset and resource management. Though beneficial for various business units, its complex and pricey maintenance modules often result in lower user adoption.

How Maintenance Teams Benefit from Warranty Management Systems

Keeping track of warranties across numerous assets can mean significant cost savings and productivity enhancements. Warranty management systems significantly enhance maintenance strategies through:

1. Initiating Preventive Maintenance: Properly leveraging warranty schedules ensures consistent and efficient maintenance routines.
2. Standardization of Tasklists: Develop uniform maintenance checklists based on warranty guidelines to ensure quality and consistency.
3. Informed Repair or Replace Decisions: Stay updated on warranty expiration to make cost-effective decisions regarding asset management.
4. Conducting Root Cause Analysis: Use historical maintenance data to determine asset failure causes, enhancing reliability.
5. Cost Efficiency: Access and utilize service contracts to minimize unnecessary expenses on contractor services.