Search results
- Below are the seven things to consider: Operation strategy Standardizing the work order process Effective parts inventory control In-depth understanding of lead times for different parts Calculating risk for every equipment Stocking parts for new equipment Adopting better security measures
limblecmms.com/blog/spare-parts-management/
People also ask
What are the characteristics of spare parts inventory management?
What factors should you consider when developing a spare part management system?
What are the most important spare parts inventory management best practices?
Which research issues are relevant to spare parts inventory management problems?
May 10, 2024 · Operation strategy. Standardizing the work order process. Effective parts inventory control. In-depth understanding of lead times for different parts. Calculating risk for every equipment. Stocking parts for new equipment. Adopting better security measures.
- Assess the present state and set objectives. It’s highly recommended that you have broad network visibility to build organisational resilience before you get started.
- Remove obsolete components from the inventory. When you have identified your goals, you need to take stock of your spare parts inventory. This means entering each one in a CMMS system or importing your list of inventory into the software.
- Sort out and rearrange the remaining parts. The third step after you have quarantined obsolete parts from your inventory is to sort out and rearrange the remaining parts.
- Establish storeroom guidelines. Your inventory is now organised and you have filtered through all the relevant parts while separating those that do not add value to your operations.
Jul 25, 2017 · Operating strategy, inventory control and lead times are a few of the factors you should consider when developing or reviewing your part management system. Taking these factors into account can help minimize performance disruption, promote efficiency, and reduce carrying cost. Ultimately, producing successful spare part management. Operating ...
Feb 25, 2021 · The goal of this review is to provide a quick guide to a variety of classification schemes to the spare parts inventory management literature and to present a big picture on spare parts supply chains to discuss the studies on spare parts inventory management.
- Shuai Zhang, Kai Huang, Yufei Yuan
- 2021
- Choose a Method for Labeling Critical Components. Though it might seem obvious, it’s still worth stating: The first step to managing your spare parts inventory is to clearly label each component so there’s no question as to what’s what.
- Balance Inventory Volume With Sawtooth Diagrams. One of the most important spare parts inventory management best practices to follow is to maintain a balanced inventory volume, though this is often easier said than done.
- Keep Your Bill of Materials up to Date. Your bill of materials (BOM) is the winning formula for manufacturing an end product that’s light-years ahead of its competition.
- Calculate Optimal Economic Order Quantity. According to Investopedia, economic order quantity (EOQ) “is the ideal order quantity a company should purchase for its inventory given a set cost of production, a certain demand rate, and other variables,” and “is done to minimize inventory holding costs and order-related costs.”
Jul 12, 2022 · Spare parts are kept on site typically for one of two reasons; unexpected failures, and poor work management practices. We can all agree that some failures are unpredictable and in those cases, we should have the right spare parts on hand to enable a quick repair.
Feb 25, 2021 · Firstly, we focus on analyzing the supply chain structure of different inventory networks for managing spare parts. Secondly, we classify the current literature based on analytics techniques,...
