December 18, 2018, 12:04 am

Spare Parts Optimisation

Spare Parts Optimisation is one of the most common, but complex and expensive problems in many organisations. Maintaining stocks of excess spares is not the best use of a limited budget, but lack of spare parts, when required, can result in expensive downtime, and potentially hazardous operations. The key to making effective business decisions in this area is in optimising stock levels to minimise the total costs, and risks, associated with spare parts stockouts, and the costs associated with holding inventory.

Traditional algorithms for determining spare parts holdings assume random, independent, demand for spare parts items. This errs on the side of conservatism, and generally overestimates the requirement for spare parts holdings. However the demand for most MRO spare parts is far from random, and is often predictable. The key to understanding the extent to which the demand for parts is predictable lies in understanding the Predictive and Preventive Maintenance program that drives the demand for those spare parts.

Assetivity's multi-functional consultants, who understand and embrace both leading-edge Maintenance practices as well as Inventory Management processes, are in a unique position to assist you to truly optimise your spare parts inventory holdings. Using our own inventory optimisation tools and algorithms, or commercially available Spare Parts Optimisation software, we will work closely with your Supply and Maintenance personnel to ensure that the correct decisions are made, decisions that are in the best interests of the organisation as a whole.

Assetivity has dedicated Supply Professionals who can assist you to establish an accurate spare parts catalogue, linked to Bills of Materials and Parts Lists within your Computerised Maintenance Management software or Enterprise Asset Management system, and using standard and consistent terminology, which will assist end-users to more easily find the spare parts they are looking for quickly, and easily.

Contact us now to speak to an expert consultant.

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