The availability of spare parts has a crucial role on the continuing operation of an asset; the lack of spare parts has the potential to cause significant production loss due to extended repair time. On the other hand, holding unnecessary spare parts ties up capital and may add to operating costs. An optimal spare part holding strategy will help maximize asset production availability at a minimum cost.

 

A spare part optimization process is key to achieving a good spare part holding strategy. The optimization process can provide recommendations on the quantity and location of capital spares as well as operational spares to achieve the required production availability.

 

ITR Services offers implementing a cost-effective way to manage our customers spare parts inventory, stock quantities and identify the failure frequency of the equipment examined.