Basic elements of effective Spare Parts Management System
by BookMy Parts Machinery Parts Ki Chalti Phirti DukaanThis blog talks about
important ingredients of effective spare parts management system to achieve
higher efficiencies, reduce cost and earn more profits
Companies in India are normally
unenthusiastic when it comes to maintain a proper spare parts
industry because they always have apprehension that assets like spare
parts are impediment when trying to effectively control operating costs.
Management wants plant managers to find ways to reduce cost while maintaining
the performance and efficiency of plant operations.
Effective Spare part management
system is the basic requirements for reliable plant operation and it is highly
crucial in today’s time. As a plant manager, one need to know how to determine
which spare parts are needed to make up an effective and comprehensive
inventory system. Instead of using perception to decide what is needed, the
best way to establish a strategic method which will properly manage the
movement and storage of the inventory.
Operational strategy, inventory
control and lead times are few of the factors you should consider when
developing or reviewing your spare part management system. Taking these
factors into consideration it can help minimize performance disruption, promote
efficiency, and reduce carrying cost. Finally, producing successful spare part
management.
Operational approach
As a store manager, you will
either work from a predictive perspective or reactive perspective. Most
companies got into the trap of building their management strategy in a reactive
mode. To successfully manage part inventory a manager should adopt much more
refined strategy on predictive mode. While reactive strategy is beneficial
during a crisis, the successful management is the ability to avoid problem
before it erupts.
Predictive management of spare
parts includes the collection and analysis of data, and the ability to look at
the entire scope of operation to find and resolve underlying issues that may
come up in the long run.
Predictive management is going
help you to make better use of resources, cutting the time and cost associated
with fixing issues.
Out
of stock: Tackling issue
It is however not possible to
eliminate the issue of stock-out (out of stock parts). However, if you
try to identify the major cause(s) of this situation you can limit its
implication on your operation. When you start recording the reasons for
out of stock parts in real time, additionally, review demand and look for parts
that might have incorrect order setting. Here it is worth noting that the most
typical cause for out of stock is the delay that may exist within a supply
chain.
Inventory
Management
Your spare parts inventory does
not have to be effective all the time. In fact, it is unrealistic to stock
large quantities of various parts. To achieve better control over inventory,
one need to develop clear criteria which will help define and categorize spare
parts. Segregation based on priority of spare parts can help you manage your
inventory.
One need to periodically review
all spare parts classifications including critical and noncritical that might
change over the period of time based on certain unforeseen circumstances and
conditions. A regular review of spare parts for excess stock can help reduce the
cost.
Properly sorting and storing
spares in a designated, secure space is beneficial for the control of
inventory. An alert for reorder will not take place if a part is taken without
a record. Similarly, if new stock is placed on the shelf without a record, it
cannot be accounted for. A review and analysis of storage and check-out system
can reveal reasons for stock inaccuracies.
Lead
Time
Having a clear understanding of
spare part lead times is crucial to build a successful stock management. Part
lead time is particularly important when determining which parts to stock. If
downtime is not very critical for company, spare parts that can be acquired
quickly and easily must be left out of a stock management.
Incase if loss of production
time means a significant financial loss for operation, even a day or two
without a part will be too long. Many parts with long lead times are made to
order and do not carry expediting options. Therefore, it is best to keep
parts with long lead times on hand.
New Equipment is No
Exception
Many times we have heard
operations and maintenance mangers saying that their equipment was just
installed, it’s new, and we don’t need spares. While it may be
logical but it can wrong sometime. There is an assumption that vendors will supply
perfectly functioning, quality parts, however sometime part failure upon
startup is a common occurrence.
Having proper spares on hand
for the commissioning of new machinery is very important.
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Created on Jun 4th 2018 07:43. Viewed 363 times.