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spare parts management

Setbacks and downtime can be a nightmare when it comes to spare parts management.  Alternatively, it can be a well-functioning device that effectively facilitates maintenance operations, keeps the plant going, and keeps production and distribution on track. The goal of Spare Parts Management is to get “the right parts to the right place in the right amount, at the right time, keeping the overall cost to the organization minimal.”

Effective replacement spare part management is a key contributor to equipment operating efficiency and maintenance investment expense. As a result, the scope of Spare Parts Management encompasses all functions from the supplier to the point of use – recognition and labeling, classification of criticality, sourcing, quality inspection, stocking policies, connections to job planning, supplier management, and internal performance. 

Implement the following spare parts management tips to achieve this type of production method.

Identifying, Classifying/Labelling spare parts

Equipment evolves over time, and your company goal changes as well. While it is easier to increase a part’s priority than to decrease it, the fact is that some spares can be downgraded because they are no longer vital to operations. A routine method of evaluation with consistent parameters is beneficial so that alterations in the manufacturing and supplying environment can be reflected in the CMMS for spare parts management. 

Though it might seem self-evident, the first step in Spare Parts management is to clearly mark each item so that there is no confusion about what is what. This is particularly true for essential components, such as spare parts for machinery that is critical to business operations. 

You don’t want to discover parts in your inventory that have been out of date for a long time. This type of incident quietly destroys your company. But, as we all know, warehouses are so large and complex that it’s impossible to keep track of parts manually. As a result, inventory batch tracking is needed. It means that all parts belonging to the same group should be bundled together in a batch and numbered so that parts can always be found. So that no matter how large your warehouse is or where you store products, everyone will find it!

Adopting better security measures

So as to prevent any miscalculations, the inventory must be stored in safe locations. Theft is a major problem, so inventory protection is crucial. As a result, only a small number of people should be allowed access to the inventory warehouse. These individuals should be trustworthy and responsible when it comes to inventory. This place should be off-limits to anyone else. This will be the first step in safeguarding your stock. Since you can only use and sell spare parts when you have them, if they are stolen or expire, they will be useless. Furthermore, it would help the company’s bottom line.

The following are some of the most important practices to remember when introducing stronger security measures:

  • Adopting policies that prevent certain employees from accessing parts inventories.
  • Ensure that physical security measures, such as parts counters, are implemented for and inventory stock.
  • Security camera systems, as well as entry and exit badge control, should be installed.
  • Educating plant floor workers on proper component treatment and doing regular inspections of essential spare parts.

Develop and Follow A Standard Work Order Procedure

Excess parts are sometimes stored in an infrequently used area of a warehouse without being labeled in the company’s parts management system. Employees may often fail to submit a formal work order before withdrawing an item from inventory for repair or operation. Such omissions can result in inaccuracies in your spare parts inventory records, which can lead to problems down the road.

For better results and maximum throughput, you should be aware of each work order, its history, and the inventory used in the process as a result of this procedure. You won’t be able to keep track of inventory if workers use inventory pieces without maintaining proper records. In other words, there would be no inventory accuracy in your spare parts management system. As a result, inventory management departments should prioritize structured work order processes for effective spare parts, and no work order should be completed without sufficient paperwork. Employees should be held responsible for adhering to the formal procedure. 

In order to effectively handle inventory, it is beneficial to use a robust yet simple work order procedure. If the method has been considered, it should be made simple to follow and standardized for all. In order for the spare parts management system to ensure consistency, and active work order should include proper instructions covering all parts issuance must be implemented. The development of a simpler work order process ensures that all relevant data is recorded.

Audit on a regular basis

To ensure that inventory is accurate, a specific grouping of parts can be performed. Parts can be classified into three categories: X, Y, and Z, with category X containing the most expensive parts. Parts in categories Y can be semi-expensive, whereas parts in category Z can be inexpensive. Parts can be either be very critical to your business or they can be very unimportant, depending on your industry. When you periodically audit your inventory, you’ll be able to see the items are about to expire, allowing you to finish the particular stock. 

Investing and Implementing A Proper CMMS

To simplify the implementation of some of the best practices mentioned above for spare parts management, as well as analyzing spare parts, optimizing reorder points, and more, a proper computerized maintenance management system (CMMS) or inventory management software is a must-have. Inventory management software can be a game-changer for your business. Since it sends out alerts and updates for various events, you will be able to improve the efficiency of your inventory. These programs should have a reordering function that can be very useful because it frees you from manually handling inventory. 

When the inventory falls below the preset amount, the inventory team will be notified and stock will be replenished. It will also include important inventory data that will aid you in making business decisions. It can also give you an idea of how much inventory you’re using! Inventory monitoring software is designed to simplify the process and reduce the risk of human error. Through a quality CMMS, you’ll be able to better handle the inventory and cut inventory costs by avoiding inventory waste. Furthermore, with this program in place, the inventory would be perfectly balanced, with neither overstock nor low stock.

The real challenge, however, is finding a CMMS that can do almost anything.