Maintenance spare parts are held to support planned maintenance tasks and to avoid or mitigate the risks associated with stockouts. For critical equipment, stockouts can result in lengthy asset downtime and production losses while spare parts are being replenished.
A spare parts stocking strategy is still a somewhat mysterious and misunderstood process, yet it does not have to be. Following a simple review process will allow any organisation to minimise the risk to the business of not having the right spare parts and the right quantity of spare parts available, while minimising the capital invested in these spares.
It can be taken one step further by working closely with parts suppliers and repair shops by designing a comprehensive program that could include their involvement and co-operation.
AXYS Consulting in association with MRO@nalytics can offer client configured MRO@BI (Business Intelligence) tools to review spare parts stocking levels.