How can you optimise your spare parts
Spare parts are a major concern
For most companies a major cost element within their maintenance budget is the cost of holding spare parts stock and the ongoing use of spare parts. The annual survey of manufacturing and facilities management companies participating in the AMIS audit programme indicates that spare parts are still a major concern.
For a typical manufacturing business with a maintenance budget in the region of £5m. The likely stock holding value will be £3-4m with a stock holding value of £3.8m. An annual usage of parts of £1.4m the stock turn, the amount value used every year is equivalent to 2.7 years of stock, whereas in the best practice companies, this value will be more 1.0 year or less.
The question…
So the question is, “What can you do to ensure that you have the right parts available and that your investment in parts is optimum?”
Optimising spare parts and inventory
In our white paper - Optimising Spare Parts and Inventory, we discuss some of the areas that can be addressed to help reduce stock levels and ensure that you only stock the right parts leading to reduced stock-holding savings in expenditure and reduced downtime of equipment.
The areas we cover in this white pare are:
Duplication of spare parts
Standardisation of spare parts
Rationalisation of spare parts
Bad practices
Strategies and priorities
We have included a number of case studies and also the offer to review of your parts data - free of charge!
Download our white paper now, via our exclusive Members’ Area, to start optimising your spare parts and inventory management systems.