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Spare Parts Management

Spare parts management is a way to manage risk. Its goal is to minimize equipment downtime risks by ensuring that spares are readily accessible at the lowest possible cost.

The main responsibilities of spare part management are to have a long-term plan with reliable service providers who meet Service Level Agreements and pricing.

The goal of spare parts management is to deliver the “correct parts, in the correct number, to the right location at the suitable time with the best level of quality and at a reasonable price.”.

One of the most important factors in equipment performance and maintenance costs is the efficient management of maintenance spare parts. The scope of spare parts management encompasses all operations from the supplier to the end-user.

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