Case Study for Maintenance Inventory Audit
The images below show some of the benefits Strategic Maintenance Planning Ltd. can bring about by implementing an inventory management system, to find out about the kinds of positive changes that Strategic Maintenance Planning Ltd can make for your company and the way in which they are carried out simply read on.
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Inventory Management Systems
An engineering store has several key objectives:
- Hold Spares to meet planned maintenance
- Ensure Spares are available to meet emergency breakdown requirements
- To provide these at minimised cost
To meet these objectives there is a requirement for a rationale for assessing the optimum number of components to hold in stores and the optimum time and quantity for re-ordering. This rationale is known as a Spares Inventory Policy and it must take account of the rate of demand for the component (and therefore the number of such components in use in a given plant).
The holding of engineering spares for machines within a process environment is expensive. Money held in stores is dead money until the actual parts are needed. This means that the minimising of money tied up in stores, whilst ensuring service to planned maintenance and breakdown requirements, is essential.
Case Study - Dairy Site - South Wales
Situation Prior to Implementation:
- Uncontrolled stores
- No ability to find individual items
- Parts availability for service as low as 40%
- Value of engineering spares in excess of c£600,000
- Large quantities of spares for obsolete assets
- Large quantities of unidentified stock items
- One person / one shift stores person coverage leading to uncontrolled stores access
- Stock value estimated with no capability for depreciation of value
Action Taken
- 'PPM Scoping Phase' completed to identify assets requiring spares holding.
- Stores Inventory Policy developed to detail requirements for stock holding.
- New stores racking system installed.
- Stores arranged by process map area, with main assets assigned to individual racks and shelves.
- Each spares item identified and assigned to individual asset or consumable generic category.
- Obsolete stock identified, put to one side and auctioned off.
- All retained stock labelled and located into new stores structure.
- All stock information transferred to HolisTech™ system.
- Stores operational procedure implemented to ensure coverage of stores and definition of responsibilities.
- Long-term continuous improvement plan developed for site.
Results
- Overall stock holdings reduced to c£300,000
- Parts availability for service improved by 70% with general upward trend with continuous improvement initiatives
- Cyclical monthly stock takes now carried out with variance within 1%
- All parts easily found, with no requirement for store person presence.
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