Choose Your Inventory Valuation Method: FIFO, LIFO or Average
MaintSmart CMMS provides for three different inventory valuation methods. Set your preferred valuation method when you begin using MaintSmart CMMS then let the program handle the details. Use parts and MaintSmart automatically reduces inventory for you while linking the parts to the equipment item. Return parts (after use) by simply deleting the "parts usage" record or reducing it's quantity used and MaintSmart CMMS automatically adjusts your stock levels.
MaintSmart allocates inventory (used) cost to the equipment item it was used on using the valuation method of your choice.