Spare Parts Management is of Critical Importance to the Company
Every industrial professional knows that optimized spare parts management is of critical importance to the company. But why then is it so difficult to improve spare parts inventory?
Understandably, maintenance teams want to assure that all particular parts are available when needed and this very often leads to excess inventory, unused spares and additional cost. Identifying the criticality of assets, implementing a reliable CMMS and applying some preventive maintenance techniques are the three basic steps that you can undertake to improve your spare parts management process.
Spare parts inventory is one of the most significant assets for every company. Its efficient management minimizes cost and guarantees customers’ satisfaction. This is a key area with a direct impact on company’s performance and its efforts to win in a tight global competition.
By following just a few basic rules, spare parts management can be drastically improved.
1. Implement a model to manage spare parts inventory and prioritize critical assets
Evaluating the criticality of assets will guarantee the availability of spare parts for high-priority equipment. Some of the most efficient methods are ABC and PIEU.
The ABC classification system for inventory management
This technique divides spare parts in three groups according to their criticality level: A, B and C items. A items are the most important ones and require very tight control and frequent value analysis. They represent around 20% of the whole spare parts inventory but have the biggest sales volume share. B items are less important than A items but still require a strict control. These ones are roughly 30% of all items. The C items are the less important ones. They comprise half of all spare parts but have only 5% of sales volume. The ABC method is quite helpful since it identifies three different categories of stock requiring different frequency and level of inspections.
The PIEU method
The French engineer Lavina developed the PIEU method to prioritize company’s assets. The abbreviation stays for:
P - fr. pannes / en. failures;
I - fr. importance de l’équipement, / en. the importance of the equipment;
E - fr. état de l'équipement / en. the condition of the equipment;
U - fr. utilization / en. the using rate.
The failure index (P), the importance of the equipment (I), the condition of the equipment (E) and the using rate (U) are the four criticality indexes which can be contributed to different groups of assets and thus classify the equipment in several sets.
2. Use the next-gen Mobility Work CMMS
Mobility Work significantly simplifies many of the most essential aspects of your assets management. It keeps an accurate record of all performed interventions, accessible anytime and anywhere through the cloud-based technology. You can easily schedule remotely maintenance interventions when necessary. Spare parts can be tracked, ordered and even purchased, regardless of where you are located, in one click. If you are running out of time you can even rent or borrow a needed part from another community member. Mobility Work automates and streamlines your entire asset management process.
Moreover, Mobility Work provides you with a 360-global view data of every single asset at your entire plant to drive best decisions. The CMMS can be easily integrated with other analytic tools for most comprehensive results. All data from any possible sources (for instance from the ABC and PIEU models) can be sliced and diced and combined with other data by Mobility Work. Using the records for run time, performed corrective maintenance tasks and failure duration the MTTR (mean time to repair), the MTBF (mean time between failures) values and the equipment availability rates can be easily calculated.
3. Trust reliable data to avoid surplus or obsolete stock
Mobility Work data as the total scheduled maintenance work order and all performed tasks give significant insights into the exact number and type of needed spare parts. Furthermore, statistical techniques as Pareto can be applied to visualize replacement frequency and distinguish the items that require more maintenance from the items that require less. The target should be to reduce the number of the first group and increase the number of the second.
Mobility Work ensures that maintenance procedures are conducted on time and thus facilitates smooth functioning of equipment. Moreover, it collects all historical data, concerning repairs and replacements and help you plan inspections, analyze trends and control your spare parts inventory.