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Inventory part control is mainly the identification, procurement and tracking of spare parts for any piece of equipment. New, old, or upgraded, will need to be repaired and maintained. Use the following list to learn about some of the different aspects of Inventory Part Control.
A spare part is a component that has been purchased as a replacement for when the current running component fails. Spare parts are mainly identified based on the Original Equipment Manufacturer (OEM) specifications.
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OEMs typically use a form of Reliability and Maintainability (R&M) to identify spare parts. Spare part R&M is based on historical data, which aids in compiling a list of components that typically fail within a certain number of years.
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It is very important to have spare parts for the most common failed components on each machine. This is because having spare parts on hand will reduce the amount of downtime accrued when a machine failure occurs by allowing a quick replacement of the part and start up of the machine.
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Determining which parts to have on hand and which ones to chance purchase when needed is a difficult selection process. As mentioned, there are two categories for spare parts, those that will be purchased for the initial start up of the equipment and kept on hand and those that will be specified but not purchased until requested.
There are multiple factors that go into deciding which parts should be inventory parts and which should be order on request. These factors include usage quantity, failure history, and part accessibility. Let MEDA Limited work with your maintenance group and liaise with the OEM to ensure that the correct classification of parts is identified. using existing experience and historical data, we will make sure that your reserve of spare parts is kept at the required level, not too much and not too little, with critical parts on hand and others easily and readily available.
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Included in the process should be the identification and classification of inventory parts as noted above. Once these parts are known, a further procedure on how to acquire them and track them will need to be implemented. Whether you have your own procedures but need help to coordinate them or would like MEDA Limited to suggest one that has a proven record, we can train your team or manage the process and ensure that your spare parts are acquired with the best cost available and that they are delivered before they are needed.
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Many companies have a part procurement system already in place. This is a system where a user can order parts as needed. Whether this system exists within your business or you would like us to implement one, please call MEDA Limited. We will take a look at your system and needs and provide updates or training as required. We can also manage your procedures and part procurement systems with a turnkey approach, leaving you with only the parts you need without the added cost of surplus.
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The final, major portion of inventory part control is tracking those spare parts that were ordered. Tracking their whereabouts and deliveries is a task with organization and communication two of the main criteria for achieving accurate part tracking goals. Let MEDA Limited track your incoming parts and quantities or let us establish a process for tracking that works for you.
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For further details on MEDA Limited's Inventory Part Control Program, please take a moment to download our Inventory Part Control Presentation and accompanying Inventory Part Control Document or feel free to contact us today for a more thorough presentation of our capabilities.
For a broad overview of our services and how we can implement them, please see our Services and Solutions page.
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