To mitigate risk of downtime, assure profitability and the safety integrity of an operating facility, regardless of the sector you are operating in, it is crucial to strike the perfect balance between holding enough spares to mitigate risk whilst minimizing expenditure.
From an inventory management and maintenance perspective, efficiently and cost effectively procuring the right equipment, at the right time for maintenance to commence without delay is fundamental for achieving asset performance goals, and is one of the biggest challenges that operating facilities face during day to day operations.
In our experience, the root cause of this usually stems from the quality and completeness of the data within the CMMS, or lack of it. A lack of standardization, missing information, wrong information and poorly linked data sets are some of the typical contributors to costly and inefficient spare part management.
Reeve Watt, Senior Consultant at Add Energy works directly with Maintenance and Supply Chain stakeholders to help operating facilities overcome these challenges. In this blog post, Reeve discusses proven solutions that can be efficiently deployed to optimize inventory management amid a cost conscious environment.