One of the cornerstones of a leading-edge reliability program is a fully-developed and streamlined spare parts program. These parts are known and Maintenance, Repair and Operating (MRO) supplies.
With Genesis helping your team manage and optimize spare parts stocking, realign your parts usage and cost in these areas:
Bill of Materials – develop, cleanse or enhance a spare parts list for all critical assets. This is the basis for inventory management decisions.
Surplus inventories – reduce the amount of excess inventory to free up capital and reduce carrying costs
Minimum and maximum inventory levels – recalibrate stocking levels to reduce stock outs to increase critical equipment uptime
Purchase cost – consolidate the supplier base among MRO “families” to reduce purchase price and total cost of ownership
Spot Buys – minimize these high-cost purchases
Store inventory descriptions – standardize the inventory database (parts catalog) to facilitate sharing across departments and locations to minimize system-wide inventory
Obsolete inventory – eliminate unused parts to reduce carrying cost, recover capital and possibly gain tax benefits
Storeroom operations – business process and practices
Spare Parts Program
With Genesis helping your team manage and optimize spare parts stocking, realign your parts usage and cost in these areas: