Article | February 8, 2022

9 Tips For Managing And Optimizing Spare Parts Inventory

Source: Hitachi Solutions

By Michael Mendoza, Hitachi Solutions

Nine 9

There’s nothing spare about spare parts.

Corny jokes aside, although it might seem like small potatoes, quality spare parts inventory management is imperative to the success of any manufacturer or maintenance team. After all, poor spare parts control and planning can lead to inefficient inventory storage and a shortage of parts when you need them most, which causes unplanned downtime and unforeseen costs. Therefore, for the overall success of your business, it’s in your best interest to invest in optimized spare parts inventory management, starting with these nine tips.

1. 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. This is especially important for critical components — that is, spare parts reserved for machinery critical to business operations. There are two popular methods for inventory categorization and labeling: ABC analysis and XYZ analysis.

access the Article!

Get unlimited access to:

Trend and Thought Leadership Articles
Case Studies & White Papers
Extensive Product Database
Members-Only Premium Content
Welcome Back! Please Log In to Continue. X

Enter your credentials below to log in. Not yet a member of Field Technologies Online? Subscribe today.

Subscribe to Field Technologies Online X

Please enter your email address and create a password to access the full content, Or log in to your account to continue.


Subscribe to Field Technologies Online