Benefits of Spare Parts Management

Parts management for spare parts management is the process by which management ensures that the correct parts are available to employees promptly, precisely, and effectively. When you manage spare parts managing spare parts, you are essentially managing risk, and businesses tend to react to that risk rather than take proactive action to minimize the risk. However, investing time and energy in spare parts management can be worth it as you can prevent issues before they arise. Below are some reasons to have adequate spare parts management.

Reduce Inventory Costs

Inability to manage spare parts can result in an over-abundance of spare parts and excess storage costs. Not only do you incur storage costs, but holding too many parts adds costs. Effective spare parts management can guarantee that critical spare parts are available when they are needed, without keeping an excessive amount of inventory in order to avoid excessive storage and transport costs.

Improved Productivity

Having parts readily available for maintenance crews to repair or maintain assets means work orders can be completed quickly and effectively. Poor spare parts management will eventually lead to lower production. Furthermore, having important spare parts available can allow you to decrease downtime and provide faster repairs to equipment. If even one machine is broken in a production line or process, it could cause everyone’s process to a halt, so being able to reduce downtime with the appropriate parts accessible is essential.

Help to prevent disruptions from ordering the wrong parts

It is essential to have good crane parts management is also going to ensure that you are able to stop problems that arise when you place an order for the incorrect spare part. If a part is misclassified or poorly described, there is a greater chance that the wrong part will be chosen when scheduling tasks. Furthermore, delayed maintenance and repairs can create delays in the production process, which could have been prevented through accurate descriptions of the materials.

Reduction of Obsolete and Duplicate Materials in the EAM/CMMS system

Unproductive spare parts management can result in duplicate and outdated materials within your EAM/CMMS. Involving processes to manage spare parts obsolescence, specifically when it comes to equipment that is essential, will be avoided when equipment has to be repaired or maintained. It is a waste of time and money to add the same product several times to the EAM/CMMS platform is expensive and wastes the time of your procurement and maintenance teams. It also makes it difficult to select parts as well as plan the work to be done in the system.