What is a spare part inventory?
A spare part inventory is a collection of all equipment and machine parts that may be required in an emergency. In simple words, if there is a sudden breakdown or a lagging in the existing working machinery, one can turn to the well-equipped spare part inventory
for rescue, provided it is up-to-date. The spare part inventory can include anything from the most basic sewage repair system to the most critical manufacturing and transportation-oriented equipment.
Essentials of a spare part inventory.
Wondering what makes up a perfect, ready to access inventory?
The contents of an inventory are subjective, depending upon day-to-day requirements and the nature of your business. However, some of the absolute essentials are:
- Seal kits
- Rotatory goods
- Control plates
- Valve parts
What to consider before building a spare part inventory?
- The first thing to consider is the current state of your working machinery. If you have a decent amount of machinery that may require regular maintenance or replacement, you must consider adding those to the spare part inventory. The reason for this is often, when a piece of equipment slows down or stops working, the production stops altogether, which may incur a considerable loss. Keep your inventory ready and business up and running.
- Parts like conveyor belts, motors, oil refills that need replacement now and then must always be permanents in your spare part inventory. This must also come with evaluating the priority of the equipment. In simple words, equipment whose shortage will cause more considerable business decline should be given more attention and space in the inventory than the equipment that is not as important.
- Not only the equipment but also the material required to replace the spare parts are essential. The spare parts inventory must also consist of control parts, bushings, valve parts and repair kits.
Advantages of maintaining a spare part inventory.
- Better working regime: When you have a backup plan to rely on, the time, energy and up-front resources can be better utilized in production and transportation. This not only boosts the level and growth of your business but lets you focus on other crucial aspects of the organization. Moreover, the employees can better work and be in sync with all different departments of the company, ensuring the show goes on.
- Save money: If equipment breaks down in the middle of a working day and you call for an immediate replacement, it will cost you a lot of money. This is because, more often than not, equipment is shipped, and the cost for emergency deliveries and installation can take you by surprise. However, this cuts down to invisible if you have a well-equipped sports parts inventory with all the tools and machinery required for a productive day.
- Better client business: With on-time deliveries and apt manufacture, your company gets to be on top. This becomes possible when you are ready to face and counter any possible hindrance that may arise during the course of a regular working day.