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28 Mar 2018

Getting Practical on Managing Spare Parts

March 28, 2018Blog

With better methods for managing spare parts, you can achieve savings of at least 10% in ongoing maintenance and operations. Effective spare parts management can help reduce costs while keeping operations running smoothly. But the first step in solving any problem is identifying there is one, and in order to adopt an effective method for managing spare parts, you first need to know what is hindering your company’s performance.

Some reasons why you may not be saving money when managing spare parts are:

  1. The surplus of misnamed and unclassified parts in your EAM system that does not adhere to any sort of naming convention makes it a lot harder to find and select the correct parts needed or analyze the parts data.
  2. When you have many duplicates and obsolete parts in the EAM system, you are unable to find an easy way to eliminate them in the system, which results in high costs.
  3. Difficulty selecting the correct parts to plan, schedule and complete work orders also add to costs. Maintenance workers are wasting their time trying to identify the correct parts to complete a work order and bad text descriptions in the EAM system makes it hard for workers to order. This all results in time wasted and misordered parts.
  4. Being unable to add parts to the catalog efficiently both one at a time and in bulk will make it harder to make improvements.

While these are just a few reasons as to why you could be saving money by improving spare part management, these issues exist in all asset-intensive companies.

Some features that you should have in your system which will help your company save money on managing spare parts are:

  1. Having standardization and cleansing features allows for automated procedures for classifying, renaming and adding characteristics to the different parts of your system.
  2. Having efficient processes for eliminating duplicates and obsolete parts.
  3. Being able to govern the addition, deletion or changing of materials features effectively.
  4. A system that allows for selecting and finding materials efficiently will reduce costs. This means being able to search and filter your catalog of EAM parts by EAM descriptions and attributes, as well as legacy or supplemental parts descriptions to help find parts that are already in your EAM catalog.

NRX AssetHub is a complete solution for managing materials and BOMs

Our software is the complete solution for improving Spare Parts Management. It operates in both the EAM/work order world to help find and select the correct part fast and the procurement world to help make it easier to order the correct spare part.

Find out more about how NRX AssetHub can help you improve your Spare Parts Management here.

Download a handy checklist to help you choose the spare parts solution you need here.

If you would like to learn more about how NRX AssetHub can assist your organization, contact us at 1-877-603-4679 or book a meeting today!

 

 

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