Spare parts management involves maintaining key parts in strategic locations to ensure availability when needed. Decisions about which parts to stock and where to store them require careful consideration of current and future needs, with good inventory control and consideration of customer satisfaction.
Spare parts management is the maintenance of key spare parts in strategic locations, so they are available when needed. Decisions about which parts to stock and where to store them require careful consideration of current and future needs. In some cases it may be more cost-effective to order a part when you need it, while in others you need to keep a spare on hand to avoid downtime in the event of a breakdown or problem.
An important aspect of spare parts management is good inventory control. A facility that maintains spare parts needs a well organized storage area with a detailed and accurate inventory of the parts present. As the staff use the spare parts, they have to log their activities. This will allow an inventory controller to reorder parts if necessary, or evaluate the valuation of an equipment if it continues to fail and requires repair services.
Staff making decisions about which parts to keep on hand can weigh a number of factors. One aspect of spare parts management is parts availability. If a company knows it can always get a part within four hours, for example because a distributor agrees to keep it in stock, there is no reason to keep it with other spare parts. If you have concerns about the time it will take for delivery or unusual parts that may not be available when the business needs them, you should keep a supply. Similarly, if downtime is going to be extremely costly, the company needs a replacement. Some parts may expire or suffer damage in storage and should not be kept in inventory unless the company knows it will use them.
Customer satisfaction is a key component of spare parts management. Companies need to determine whether having a part in stock will provide benefits in the form of shorter lead times and less risk of downtime which would make storage costs, inventory controls, and so on, justifiable. For some businesses, replacement parts may not make a significant difference in customer satisfaction, and it will be more cost-effective to order replacement equipment when needed.
Spare parts management is not just about factories and large companies. It can also occur in the family. Many households keep things like light bulbs, screws, washers, and other basic supplies around to make quick repairs if they break. These spares will take up space, but they can be very handy to have around.
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