Asset Management

Spares Optimisation

To further aid in the efficiency of the maintenance workflow, spare part optimisation becomes an integral part. It is essential that the parts on hand be adequate to meet the needs of all work in progress and emergencies, so that each maintenance function be fully served, not too many, not too few.

Slow-moving spares are generally responsible for a large part of the inventory value of any organisation. They tend to be expensive and, although only accounting for perhaps 20% of the inventory items, they often represent 60-80% of the inventory capital tied up.

The optimal spares holding level will minimise the amount of unnecessary procurement and reduce excessive inventory space.

In turn, not holding the part can also increase the risk exponentially for critical equipment that may cause outage for extended period.