Reducing Inventories. Increasing Availability.
Manufacturing companies have high spare parts inventories to be able to react in the event of a machine failure. This is reflected in high costs for procurement and warehousing, even though 42% of all spare parts are never used and end up scrapped. With reliable data at hand, spare parts inventory can be optimized without having any availability risks.
How to safely reduce spare parts inventories?
SPARETECH identifies synergies at the push of a button. In the first step, SPARETECH's solution ensures transparency by uniquely identifying spare parts through state-of-the-art technologies from the fields of semantic data management, Big Data and automated data processing. In the second step, duplicates, discontinuations and common parts across locations are made visible and original manufacturer product information is added. The result is a complete and error-free database.
René Hackbart
Director Maintenance ElringKlinger AG
Identify duplicates to stop any double stocking
Cleaning up your data, especially removing duplicates from the system can be a lengthy process, hence it is important to reduce unnecessary high stock levels. SPARETECH identifies duplicates by a push of a button. With that information at hand the process of removing duplicates and definition of leading material numbers can be started. Get the full guide on how to find and remove duplicates in your material master.
Always up-to-date about discontinued products
By providing information on discontinuations and successor products from manufacturers we enable manufacturing companies to stock spare parts smarter. With obsolescence information at hand, you can prevent costly purchases of obsolete items. This way you can always be sure to have the right spare parts in stock in case of a machine failure.
Identify your real demand based on availability
Optimizing stock levels based on part availability is a strategic approach to efficient inventory management. By making data-driven decisions, you can ensure that essential parts are on hand when needed, while stock levels can be kept at an optimum. SPARETECH shows you if a needed spare parts is available in your production network and unveils alternative sourcing options. This enables you to always make the best stocking decisions.
Benefits of managing spare parts data with SPARETECH
Inventory
Machine downtimes
Procurement costs
Manual effort
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SPARETECH is the fastest and most reliable way to reduce inventories and costs in spare parts management.