Critical Spare Parts analysis

In order to be more and more competitive, companies are forced to reduce their internal costs while maintaining a high quality of their services and safety. One of the potential sources of saving is reducing stocks of critical spare parts. However, an insufficient stock can lead to excessive unavailability that may affect safety and productivity.

To address this major issue, it is important we support our customers by providing critical spare parts analysis whose main objective is to optimize the assets critical spare parts management policy ensuring the adequate minimum stock level and the best warehousing strategy while enhancing performance and safety for their business.

The Critical Spare Parts Analysis can be performed at the Design phase to define the initial stock of spares to be commissioned as well as during the operational phase to fine-tune the spare parts management policy taking into consideration historical data.

This service aims at optimising the stock of critical spare parts which generally represents most of the immobilized costs of a stock. Critical spares are typically characterised by their expensive price (several thousands of Euros), long lead time (several weeks or months), low inventory turnover (less than 4 spares consumed per year), and high impact on production when failed.

Classical approaches for optimising spare parts management policy are generally qualitative. They are not able to calculate spare parts quantity, which is the main issue for clients when they need to (re)define their stock.

The Critical Spare Parts Analysis that Tecnitas offers is quantitative and can provide the following calculations for:

  • optimum quantity of spares to stock;
  • risk of exposure depending on spare policy;
  • overall stock costs.

The benefits are:

  • considerable risk reduction in terms of production, availability and safety;
  • significant cost savings per year.

This analysis can be used as a complementary tool to Reliability, Availability, Maintainability (RAM) studies for estimation of critical spare parts stock.