Spare parts management is a form of inventory management in which a company’s goal is to ensure that the correct spare part is available at the right time. Asset-intensive businesses use spare parts management during routine maintenance procedures or when equipment needs repair. The goal of adequate spare parts management is ultimately to optimize the use of spare parts within a company’s maintenance and operations. However, poor quality data can affect a company’s ability to manage its spare parts and ultimately have a negative impact on its bottom line.
Increased Time Finding Documentation and Parts
If EAM data is of poor quality, then vendor documents become challenging to find. Also, vendor documents themselves sometimes cannot be found unless the equipment model itself is identified. However, if the vendor document can be found but it’s not up-to-date, it can also be invalid and increase the time spent searching for parts. Also, if a company has insufficient spare parts data, they may not be able to find spare parts when requested for repairs or maintenance. There could be several reasons why this occurs, including that the information found within a company’s spare parts data may not be detailed enough. If you want workers within your company to find spare parts quickly and efficiently, you must ensure that you have good quality spare parts data.
Insufficient spare parts data not only makes it difficult to find parts within your warehouse but also leads to inefficiencies when it comes to purchasing parts from elsewhere. Usually, it’s easier to procure parts than to spend time looking for them within your warehouse since the information on how and where to procure them is already there. Due to this, the same parts are purchased repeatedly, which leads to unnecessary expenses and the same information. More often than not, this becomes a repetitive cycle causing more wasted expenses and insufficient information within your EAM system.
If you are planning an EAM migration, you must ensure good quality before loading data onto the new EAM system. Otherwise, not only will it lead to significant inefficiencies within spare parts management, but it also leads to poor asset integrity, asset reliability, maintenance, operations, and more. HubHead’sHubHead’s solutions can help you cleanse your data so that it can be optimized in your new EAM system. Contact us to book a demo or download our brochure to learn more.
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