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4 Reasons Why Spare Parts Management Is Important

Besides regular maintenance and lubrication, businesses also need to use spare parts in order to keep the equipment in good shape – this applies to both small and large companies.

Especially since how improper spare parts control and planning can result in insufficient parts and inefficient inventory storage, your business may meet with unforeseen expenses and unwanted downtime. As such, this affects your business operations as a whole and may lead to maintenance – such as an electric motor or generator rewinding, depending on your equipment.

Hence, regardless of the type of industrial equipment you own – proper spare parts management is necessary for business operations to run smoothly. Below, we’ll be expanding on the importance of spare parts management even further.

Avoid unneeded expenses

While purchasing spare parts may mean having to spend extra money at first, experiencing an equipment failure will lead to efficiency loss, equipment downtime, and costly repairs. This usually occurs whenever the spare parts inventory level is just below the appropriate level.

Therefore, by having the necessary spare parts on hand, there will only be minimal downtime as the spare parts are already on hand. At the same time, by constructing an effective spare parts management and planning system – it’ll help businesses to free up capital, reduce existing inventory, yet still maintain high levels of accessibility and service.

Provide better customer service

Equipment downtime, particularly when it comes to vital equipment that provides power to the rest of your machinery will negatively impact your business greatly.

Hence, spare parts management highly matters as it will help ensure that operations are conducted in a much efficient manner. In other words, it means getting hold of the right parts at the right place and right time. With the right spare parts on hand, your business can continue without ceasing operations even after a major equipment failure, allowing you to avoid loss of crucial time and profits as you wait for the right parts to be delivered.

As such, you may have to get in contact with your trusted engineer for some generator or electric motor spare parts – depending on which equipment’s inventory is lacking in spare parts.

After you have secured your spare parts, implement the appropriate software and systems to inform you of a low inventory level – you’ll see an improvement in efficiency and inventory service levels.

Have control and execute proper repairs

You may have received duplicate, ineffective spare parts that have no use when it comes to replacing parts. Meanwhile, it could also be a case of a rushed repair to prevent a major shutdown or breakdown from occurring.

Both instances may actually lead to even more costly damage to the equipment, especially if you’ve decided to manage the repair on your own.

So, to avoid this first – you’ll have to put together an effective spare parts management system. By doing so, you’ll also ensure that you are conducting the right repairs at the right time. However, to ensure the repair or replacement runs smoothly, you should also engage a trusted engineer to execute the process properly.

Improved machinery uptime

With the proper spare parts management system, it’ll lead to lower downtime and more savings. It means reducing any wasted time on unused assets.

As such, even resulting in several benefits like reduced expenses as a result of obsolete spare parts and better transparency which leads to an effective spare parts management system.

All in all, knowing when to get spare parts and having them with you can essentially help plenty in ensuring your business runs smoothly, as well as lower costs, avoid downtime, and maintain the relationship between your clients.