Spare Parts Management best practices

An accurate Spare Parts Management system allows the area responsible to be proactive and responsive to the plant. Also, they can save from 5 to 15% on spare parts inventory costs. Here are spare parts management best practices, for managing parts inventory more effectively:

• Identify all spare parts
• Classify all spare parts
• Use the work order
• Limited access to the parts warehouse inventory
• Use an Inventory control system
• Define a stock location for every part
• Implement cycle counting for inventory control
• Standardize Spare Parts
• Develop Spare Parts Management Processes
• Decide based on accurate data