The Printer MIB reports consumable levels as a percentage, which makes a genuinely useful early-warning alert straightforward to set up.
A toner-low warning at 100% doesn't help anyone. Set the warning threshold around 15–20% remaining, giving enough lead time to order a replacement before it actually runs dry.
A low-toner warning and a paper jam aren't the same urgency; route the former to whoever handles office supplies rather than paging the same on-call rotation as a genuine device fault.
If you're monitoring dozens of printers across a building or campus, group consumable alerts by floor or department so the person who orders supplies for that area gets exactly the alerts relevant to them.