NEW! Optimising Spare Parts eBook
An Introduction to Our New Optimising Spare Parts eBook
Research by MCP, using its AMIS (Asset Management Improvement System) database of clients, has previously identified that parts management is an issue. 20% of respondents were concerned about spare parts availability and 55% concerned about maintenance costs. As spare part expenditure can be up to 50% of the overall maintenance budget, this is a key concern for many companies.
Establishing and stocking a spare parts store is an expensive and time-consuming activity for many companies. Effectively managing spare parts can be a daunting task if the correct organisation and processes are not already in place. It is imperative that every element of the business that handles spare parts, follows solid processes in a uniform and organised way to ensure a sustainable system that benefits all involved.
It is essential that the Supplier, the User and the Stores work in conjunction with each other.
Theory vs. Reality
The Theory
Inventory costs money - therefore the objective of any business is to hold as few parts as possible. Ideally, Failure Modes, Effects and Criticality Analysis (FMECA) data should inform maintenance in advance when an item is going to need replacing. Maintenance informs procurement of their requirement and, taking into account procurement processes and lead times, the item should arrive in stores with just enough time for QA checks before maintenance arrive to collect it.
However, the real world doesn’t quite work like this, which is why we keep inventory to mitigate the risks (and cost) of something in this process not following our theoretical plan.
The Reality
In reality, holding inventory costs money, not holding inventory also costs money - the trick is to get the right balance, but how do you do that?
The Solution
In this eBook we will focus on the main issues faced by Spares Managers and look at ways these can be addressed. We also highlight a number of areas that can help improve the overall optimisation of spares which can ultimately save your business money and you - unnecessary frustration!
eBook - Optimising Spare Parts
Download our eBook to look at Best Practices and the Top 10 issues faced by stores and inventory managers, how they can be addressed and the simple five step process to Optimise Your Spare Parts.
