Spares management is when managers be sure that the correct parts are offered to workers quickly, accurately, and efficiently. In managing spare parts, you might be essentially managing risk, and a lot of companies often answer that risk rather than take proactive action to scale back it. Focusing resources and time on spares management whilst as you can prevent troubles before they are available to become. Below are some of the numerous advantages of effective spare parts management.

Reduces Inventory Costs

Failure to correctly manage parts can lead to excessive spares, ultimately causing excess storage costs. Other than storage costs, but holding too many parts also leads to carrying costs. Effective spares management can ensure that critical spares are available as needed without maintaining excessive inventory in order to avoid unnecessary storage and carrying costs.

Improved Productivity

Having parts readily available for the upkeep team to fix or maintain assets ensures that work order might be completed efficiently and quickly. Poor spare parts management inevitably results in less capable production. Furthermore, having critical spare parts available makes it possible for you to reduce downtime and make faster fixes to equipment. If even one machine is broken within a production line, it can bring the entire process to a halt, so being able to reduce downtime with the appropriate parts available is crucial.

Prevent Disruptions from Ordering a bad Parts

Effective spares management should also enable you to prevent disruptions that occur when you order the wrong spare part. For instance, if a part is misclassified or poorly described, then there’s a larger chance how the wrong part could possibly be selected when planning work. Delayed maintenance and repair may lead to delays from the production process, that could have been prevented through accurately described materials.

Reduction of Obsolete and Duplicate Materials within your EAM/CMMS System

Ineffective spare parts management may result in obsolete and duplicate materials with your EAM/CMMS solution. Proactively managing processes to cope with spares obsolescence especially for critical equipment can avoid problems when critical equipment has to be repaired or maintained. Adding the same material too many times in your EAM/CMMS solution is costly and wastes enough time of your respective maintenance and procurement teams. It also makes it challenging to choose parts and plan be employed in it.

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