For any factory setup or company that uses different equipment, spares need to be obtained, maintained and repaired or replaced as required. Management of spares is an integral part of inventory control in most companies. Again, those which have factories and set up in different locations need to maintain inventory in strategic places so that availability is guaranteed when required. As machines play a crucial part in production processes, spares and availability of the same will ensure continuous working and production that is unimpeded.
Inventory controlInventory control deals with spare parts management like car engine parts in NZ. What kind of parts needs to be in stock and where they will be are decisions arrived at after current as well as future needs are predicted. Today, most companies operate with the lean management method. As per such principles, spares are ordered in as and when required from suppliers who can guarantee prompt response and delivery.
Activities regarding spare parts managementUsually inventory control of caterpillar truck engine parts and others includes identifying a facility where spares can be stored with the right temperate conditions and in a secured manner. Usually spares need to be catalogued and accounted for at the time of storage. When they are used and replaced, catalogs need to be updated accordingly. All such records form part of inventory management. Usually, companies need to take a call whether they will source spares as required or stock them from before. While stocks take up warehousing space and resources, just in time supplies might not be possible when production units are located in remote places.
Relationship with suppliersWhen it comes to sourcing of spares, every company needs to have a reliable relationship with the supplier. There are several standards and regulations that need to be followed for sourcing spare parts for different machines and equipment. When vendors are selected as per such requirements, they also need to showcase reliability in supplying within a given time frame. This in turn ensures that production processes will not be hampered as spares are replaced or maintained on time. Usually long term contracts are beneficial in such cases. Once a reliable supplier is identified, a company is able to build a relationship with the vendor with wholesale rates and assured quality of spare parts.If you are looking to tie up with a vendor for spares for your company, it is best to keep the above points in mind. Choosing a vendor carefully is important as per industry regulations as well as finding a service that will stand the test of time.