Managing Inventory: How We Simplify HazMat Inventory Management

Managing Inventory: How We Simplify HazMat Inventory Management

The business of automating hazardous waste is worth more than $6.25 billion right now. When you’re dealing with chemicals or any other types of hazardous waste, you’ll need to have access to systems and regulations that can keep things organized and safe. 

Working with the right company can help you out when you’re looking into practices that will manage your hazardous materials. Read below to learn more about managing inventory in a way that will help you the most.  

The Benefits of HazMat Inventory Management

If you’re trying to get the most out of the management of your hazardous materials, start with a company that can handle your inventory. Hazardous inventory management systems allow you to put raw information in and use analytics to keep track of every chemical that you use or store. These Software as a Service (SaaS) platforms are useful for companies in all industries. 

Here are some benefits of using a HazMat inventory system: 

It Will Cut Costs and Save You Money

When you invest in a HazMat inventory system one of the first things that you’ll notice is that it cuts costs, saving you time and money. The system stores and archives your chemical information so that you don’t take a lot of time to look them up. Your speedier decision-making keeps you productive and makes you a better steward of your budget. 

The system also lets you quickly and seamlessly upgrade your chemical information so that you’re more accurate and avoid costly mistakes. 

With a hazardous materials inventory management system, you’re paying a reasonable price for a big investment. These systems cost upward of $350 per month per license, depending on the type that you’re working with. Figure out what kind of inventory reporting you need and take the time to use it effectively so that you can save money effectively.  

You Will Have an Organized Database

The more organized your database is, the easier time you’ll have with your operation. Having effective chemical inventory management lets you set your safety standards in place so that your company has everything that it needs to remain in compliance. 

You’ll be able to look out for your workplace by maintaining safety standards. These standards will remain up-to-date, and everyone will have access to the information on a cloud-based dashboard. It takes an organized database to manage regulatory data of more than 100,000 chemicals. 

The system keeps track of these chemicals in a way that lets you quickly reference them and cross-reference your chemicals with information from government agencies. It tags your chemicals according to specific standards so that you can pull the information that you need without a problem. 

It Helps Take Care of Certification

When you’re dealing with chemicals, there are always regulatory organizations that dictate the main ways to handle the organization, reporting, and handling.

Organizations like the Occupational Safety and Health Administration (OSHA) set strict standards for how your workplace must handle chemicals. This is for the safety and well-being of everyone in your building and protects them based on universal standards. Your chemical management inventory system tracks information and ensures the safe handling of Category I, II, and III liquids. 

This system will give you the chance to store your chemicals correctly and will make sure that they are properly labeled. 

A chemical management system will keep you on track with certifications and regulations set form by organizations like the Department of Transportation (DOT) and the International Air Transport Association (IATA). 

The Safety Data Sheets (SDS) that you compile will keep you certified and will make sure that you’re in compliance. 

These Systems Promote Safety

When you’re interested in promoting safety in your company, an inventory management system can go a long way. It’ll help you with the accuracy of labeling and information, while also making sure that your calculations are handled correctly. 

Each chemical transaction is recorded, and you will be able to maintain information for multiple sites. Having access to these systems keeps everyone on multiple sites on the same page, which leads to clear and effective communication, which is essential for safety.  

You Will Handle your Emergency Response Effectively

Crystal clear information and communication lead to effective emergency response. You will have access to all of the updated emissions forms for your state, while also making sure that your policy is set in stone. 

These systems will make it easier to respond to natural disasters, exposure to chemicals, leaks, so that you can nip the issue into the bud and have a plan for taking the correct steps. Time is of the essence, and you can save your business and potential lives with the correct emergency response.  

How Hazmat Inventory Management Works

Once you invest in the right hazmat inventory management system, it’s important that you know how to put it to use. You’ll invest in a Software as a Service (SaaS) that records and compiles your chemical information, while also enacting policies that you can enforce right away. 

Here are some of the points to keep in mind as you take action with one of these systems: 

Reduce Your Administrative Workload

An inventory management system will first and foremost help you to reduce your administrative workload. Train the heads of your company on using these systems so that it’s used effectively and so that you’re automating as many tasks as possible. 

This lets you get a handle on your records and risk assessment without having to take costly time away from your processes. Your company will become more productive when everyone is onboard with using the system and getting the most value from it. 

Managing inventory can be incredibly time-consuming, so you’ll appreciate buying this time back.  

These Programs Add Storage Use Limits

Once you start using the system, feel free to create customized storage use limits that apply. Each chemical is different and your company might have requirements that change over time. 

The system allows you the flexibility to switch these limits to your choosing and will use Artificial Intelligence (AI) to make use limit suggestions that can apply.  

Inventory Management Cuts Out Risk in Your Business

Use the system as a tool to help you keep risk at bay as much as possible. When large quantities of these hazardous materials are handled, processed, and shipped every day, it’s only natural that certain risks will occur. 

Having the numbers in front of you, along with a system that is intuitive, will help you manage this risk to the best of your ability, which will also lower your liabilities.  

HazMat Inventory Is Great for Sustainability

In this day and age, every company has a responsibility to practice as sustainably as possible. This is especially important if you deal with any sort of hazardous chemicals that can pollute the air, water sources, or other parts of the environment. 

Your company can achieve green standards, which opens you up to tax benefits and gives you the opportunity to take environmental issues seriously. Companies that use these systems are able to lower their carbon footprint and figure out how to properly dispose of their chemicals in the most sustainable ways possible.  

These Systems Help Keep Your Business Trained

The most important thing you can do is invest in quality training for your business once you start using these systems. This will give you the chance to keep everyone on the same page with safety, proper handling, and professional standards. 

These systems come with training modules that you can use to get everyone certified and keep them up-to-date with the latest information and standards. Just as important, you will meet all training mandates and requirements in your industry and will be able to avoid fines and other penalties. 

Make continuing education a standard in your company by using a system that gets everyone onboard, so that you can reduce turnover in your company while increasing engagement.  

It’s a Way to Reduce Fines in Your Business

Most importantly, use your records and protocols to reduce fines in your business. The more you can avoid these penalties, the more liquid and profitable your company will be. 

These fines tend to add up, especially for repeat offenses.  

Managing Inventory in a Meaningful Way

These tips will help you when you’re interested in managing inventory of your most hazardous materials.  

Kelleher, Helmrich, and Associates, Inc. (KHA) provides the software and data products that you need to help with all of your inventory management needs. To schedule a demo or get more information, contact us online or give us a call at (800)274-4995.