Spare parts management occurs when managers ensure that the correct parts are offered to workers quickly, accurately, and efficiently. In managing spares, you might be essentially managing risk, and a lot of companies often react to that risk as an alternative to take proactive action to scale back it. Focusing time and resources on parts management is worth it as you can prevent issues before they are offered being. Below are some of many advantages of effective spare parts management.

Reduces Inventory Costs

Failure to correctly manage spare parts can bring about excessive spare parts, ultimately causing excess storage costs. Other than storage costs, but holding lots of parts also results in carrying costs. Effective parts management can be sure that critical spares are available as required without maintaining a lot of inventory to prevent unnecessary storage and carrying costs.

Improved Productivity

Having parts readily available for the maintenance team to mend or maintain assets means that work order could be completed quickly and efficiently. Poor spares management inevitably brings about less capable production. Furthermore, having critical parts available can allow one to reduce downtime and make faster fixes to equipment. If even one machine is broken in the production line, it can bring the complete process to a halt, so having the capacity to reduce downtime with the appropriate parts available is critical.

Prevent Disruptions from Ordering the Wrong Parts

Effective spare parts management should also allow you to prevent disruptions that occur whenever you order the incorrect spare part. By way of example, if the part is misclassified or poorly described, as there are a better chance how the wrong part could be selected when planning work. Delayed repair and maintenance may lead to delays from the production process, which could have been prevented through accurately described materials.

Lowering of Obsolete and Duplicate Materials with your EAM/CMMS System

Ineffective spare parts management may lead to obsolete and duplicate materials within your EAM/CMMS solution. Proactively managing ways to take care of parts obsolescence particularly for critical equipment can avoid problems when critical equipment must be repaired or maintained. Adding precisely the same material several times in your EAM/CMMS option is costly and wastes the time of the maintenance and procurement teams. It also can make it tough to choose parts and plan operate in the machine.

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