Spare Parts Inventory Optimization: SOS™
Does your organization have a current initiative to reduce spare parts inventory? Are you about to purchase spares for new equipment? If so, then consider using SOS™, a tool that allows you to scientifically determine whether to hold a spare part at all, and, if so, in what quantity.
SOS -The Expert System
SOS™ is an expert system that bases its recommendations about spares holdings on the input provided by the selected answers to a number of carefully structured multiple-choice questions. A combination of expert logic and assessment of economic order quantity is balanced with business cost/risk analysis to ensure that the optimum level of spares is recommended.
Compliments Your Existing CMMS
SOS™ is an optimizing process, not a “slash and burn” tool. It satisfies and responds to all disciplines from maintenance and materials management to finance. SOS™ can be easily linked to existing computerized maintenance management systems (CMMS), such as SAP, Maximo, Tabware and Indus, for simplified import and export data.
The Benefits
With SOS™ you will have a better and lower mix of spares. Holding costs in most organizations range between 20 and 35 percent. Thus, a reduction of 20 percent in total inventory value means a direct impact to your bottom line each year, which can be valued at millions of dollars.
