2. Spare parts management is the main
component of a complete strategic service
management process that companies use to
ensure that right spare part and resources
are at the right place, at right time.
3. To ensure the availability of spare for
maintenance
Repair of the plant and machinery as and
when required at an optimum cost
4. Every organisation establish an effective
spare parts management system
Codification helps the organisation in
minimising duplication of spare parts
stocking
The inventory analyses carried out on the
basis of different characteristics like annual
consumption value, criticality, lead
time, unit cost, the frequency of use
5. This helps the company in establishing
suitable policies for selective control
Expensive spare parts are imported
Similar industries establishing spare parts
bank which helps to reducing the stock
holding cost
For different industries, it is better to start
a spare part bank and suitable information
system for the exchange of spares
6. Business criticality
Visibility and optimization
Supply chain trends
Product characteristics
7. Lowering the cost of operations and
improving service levels, it laid to more
sophistication in manufacturing complexity
and greater capital investments.
8. Deployment of spare parts inventory happens
across locations and one way of controlling
the spare parts by taking a global view of
inventory and forecast based on demand.
9. The trend towards outsourcing of service and
integration from both a process and a
system perspective.
10. The proliferation of parts and products make
the equipment manufactures to be
standardize on parts and components and
rationalizers by using same standard across
the manufactured products.
