CASE STUDY

Spare Parts Management Helps Industrial Valve Manufacturer Unlock Capital and Reduce Costs

Sep 23, 2016

Business Challenge

Optimization of material and spare parts inventory control.

A US based industrial valves manufacturer wanted to improve the spare parts management for its spare parts inventory utilized in product repairs.

Situation

Inconsistent inventory and stock management.

The industrial valves manufacturer wanted to improve the inventory management process for the spare parts provided for equipment repairs. The client wanted an inventory control and maintenance management system which could simultaneously meet the repair service requirements and cost needs.

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Solution

ABC analysis, inventory control and stock management for spare parts.

We integrated the spare parts data from processes including consumption forecast, purchasing, storage, inventory level optimization, and risk control. We created a multi-criteria spare parts classification method, followed by ABC analysis on spare parts, inventory control, and stock management for maintenance inventory optimization.

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Impact

Improved parts management and unlocking of capital from standing stock.

We developed a spare part inventory system, through which the client was able to ensure 100% availability of critical spare parts, optimum safety stock, and better stock management of spare parts necessary for unplanned repairs, and also reduced the amount of locked capital due to high levels of standing stock.

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