Spares Parts Management...

Spares Parts Management  Spare parts are the lifeblood of operational reliability and plant capacity.  No plant can operate at a high level of output without a reliable supply of functional spare parts. Yet, spare parts are also the most overlooked contributor to reliability outcomes.  Many organizations routinely operate without properly implementing even the most fundamental aspects of spare parts management at their sites.  Often these organizations have storerooms with neat shelves and clear labels but this is not enough for highly reliable spare parts management.  Effective spare parts management is essential for making a difference in the operational reliability. Superficially, achieving best practice spare parts inventory management looks simple because spare parts can appear to be just like any other inventory.  But in reality they are different from other inventory types and this is reason why best practice (or even good practice) can be so hard to achieve. In reality, the spare parts management brings together the diverse disciplines of maintenance management, inventory management, storeroom management, supply chain, procurement and logistics. This adds a layer of complexity that is usually not found with other inventory types. It is a paradox to note that the maintenance department always complains of the non availability of the spare parts to meet their requirement and finance department always faces the problem of increasing locked up capital in spare parts inventory. This amply signifies the vital importance of spare parts management in an organization. Spare parts management plays an important role in achieving the desired plant availability at an optimum cost. Steel plants are normally capital intensive, mass production oriented and with sophisticated technology. The downtime for steel plant and its equipment is prohibitively expensive. The unique problems faced by the steel plant management in controlling/managing the spare parts...