Spares Management
Spares Management Overview
Unavailability of the right parts may have a serious, negative impact on equipment availability, due to increased downtime, and resource efficiency due to schedule interruptions.
Managing spare parts can seem to be a daunting task, which can be eased by using a computer software package (most CMMSs have an inventory management module); this can be used to record all spare parts, their locations, purchase and usage. In this way, technicians know exactly what parts they'll need for a repair or preventive maintenance task and where those parts are.
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Optimising Spare Parts and Inventory Management
Spares Management Approach
Maintaining optimal spares requires tracking usage data and inventory costs, order history and issues against work orders.
Effective spares management depends on a small number of key steps:
Defining common standard to describe each item
Deciding the stock policies (stock/no stock)
Setting stock levels and reorder quantities
Managing the issue and return of parts
Historically, few companies had these steps in place; hence there is generally an overstocking situation with duplicate, obsolete and redundant items. MCP can provide a complete spares and inventory improvement programme which covers:
Data cleansing and parts standardisation
Data mining, standardisation, validation and enrichment
Parts and materials classification
Spare parts evaluation/inventory listings
Stock replenishment policies - min/max stocking levels
Building Bills of Materials (BOM) for assets
Warehouse design and management processes development
Spare parts analysis
De-duplication cleansing of stock lists
Disposal of excess stock inventory
Spares Management Benefits
We support our clients to employ appropriate stores management techniques to optimise availability versus costs.
The benefits include:
Improved demand forecasting to allow for optimised inventories
Optimised target inventories (holding cost vs. ordering cost vs. service)
Tactical stock location(s) and picking strategies
Optimised stores design, layout, materials handling practices and workflows
Stores management system requirements/specifications
Safety stock requirements to meet specified service targets
Stores automation and materials handling systems
Dynamic inventory targets reflecting varying demand patterns
‘Cost to serve’ modelling to support the optimised solution
