Spare Parts Analysis

Identify critical spares. Forecast usage. Minimize inventory and downtime cost.

Assessing spare part requirements is important when considering the availability of a system and deciding the optimum maintenance task. A structured approach to spare parts analysis, enables an organization to perform planned and corrective maintenance, while mitigating excess inventory and system downtime costs. 

Are you experiencing any of these problems?

• Pressure to reduce inventory
• Spares or Materials related delays to restoring production
• Justifying increase in materials holdings for critical spares

Our comprehensive approach enables you to produce accurate spares holding level recommendations at each storage location and supports integration with your work management system through the ability to catalog spares and bill of materials. You can gain visibility into the contribution of spares in relation to the overall lifecycle cost.

The result is spare part holding levels that support operations and take into account: 

• How often is a part likely to fail? 
• What is the cost of the downtime if a part is attached to a critical piece of equipment? 
• What is the unit cost of a spare part? 
• What is the lead time to obtain a spare? 
• Is this part likely to fail at any time throughout its lifecycle or is it only likely to fail at the end of its life?

How ARMS Reliability Helps

Populate spares by item in a Bill of Material (BOM)

As part of our project methodology, each asset can have a BOM assigned. Spares applicable for the asset can be assigned to the BOM. BOM's can be further assigned a type for ease of management, manipulation, and analysis.

Accurately predict spares required over a project lifetime

The available spares for an asset is defined in the BOM. Each corrective and planned maintenance task may use a single, or multiple, spare. By simulating the maintenance strategy for a project over a chosen lifetime, you can forecast the number and cost of spares required for both planned and unplanned maintenance.

Model impact based on spares location and lead time

Depending on where they are stored and availability, spares can cause delays in performing corrective actions, leading to excessive system downtime. Our approach quantifies and identifies key risk areas for further analysis and improvement.

Prioritizing spares based on importance

Spares can also be ranked in order of their importance to project safety, environment, availability and/or cost, supporting the prioritization of critical spares analysis and improvement.