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How to realize major savings through spare parts optimization

What can you do to make sure your investment is well spent?

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Increasing production plant efficiency requires minimization of equipment downtime. Availability of a wide range of spare parts is a major factor for downtime reduction. Is it possible to avoid the cost of stocking large quantities of spare parts? What can you do to make sure your investment is well spent?

We recommend performing a RAM spare parts analysis to make sure you’re stocking the right spare parts. It’s important to focus on which parts are required for critical equipment: the right parts, at the right time, so that plant utilization or revenue generation is not negatively impacted. By doing this analysis, you will be able to prioritize spending and benefit from major cost savings.

You will gain a better understanding of:

  • Key challenges in spare parts management
  • Insights and success factors to spare parts stocking strategy
  • How spare parts management can become a competitive advantage

DNV presenters:

  • Simon Wong, Plant Integrity and Reliability Product Manager
  • Mike Johnson, Head of Product Management and Strategy