The Digital Supply Chain Company

Understanding the Cost of Asset Downtime and How to Minimize It

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Asset downtime can have a significant impact on an organization’s bottom line, resulting in lost productivity, revenue, and increased maintenance costs. When critical assets break down, production comes to a halt, and workers are left idle, resulting in lost productivity and revenue. Additionally, organizations often end up paying for expensive emergency repairs, further increasing maintenance costs.

The Importance of Critical Parts Management

Effective critical parts management is crucial to minimizing downtime in any organization. Critical spare parts, which are essential to maintaining assets and repairing equipment, must be available when needed. Accurate forecasting of annual demand and determining safety stock requirements for each spare can be difficult without a centralized inventory management system, leading to overstocking or understocking. Read more about How Digital Supply Chain Technology can improve FM labor and resource planning…

Optimizing Truck Stock for Maintenance Technicians

The insights gained from connecting the parts purchasing data to work order data are invaluable in optimizing truck stock for maintenance technicians. By creating a recommended truck stock list for each facility, organizations can ensure that the right parts and supplies are readily available when needed. This list includes critical spare parts that maintenance technicians should carry with them at all times, reducing the need for return trips and minimizing downtime. By ensuring that maintenance technicians have the right parts and supplies readily available, organizations can improve overall asset reliability.

How Can SDI’s Critical Stock-as-a-Service Help with Critical Spares Management?

SDI’s Critical Stock-as-a-Service can help organizations ensure they have the right critical spares stock on hand and implement a downtime management system that minimizes disruptions to business operations. Critical Stock-as-a-Service identifies critical assets and their critical spares, creates a forecast for annual demand, and analyzes the safety stock requirements for each spare. This comprehensive inventory management system ensures that critical spares are readily available when needed, minimizing downtime and reducing maintenance costs.

Secure Storage for Critical Spares

Mobile maintenance fleets present unique challenges when it comes to critical spares management, including storage and logistics issues. Critical Stock-as-a-Service provides secure storage options for critical spares, ensuring that they are readily accessible to maintenance technicians.

The cost of asset downtime can be significant, making effective critical parts management and downtime management essential for any organization. With SDI’s Critical Stock-as-a-Service, organizations can implement a comprehensive inventory management system that ensures the availability of critical spare parts when needed. By minimizing downtime, organizations can reduce maintenance costs, increase productivity, and revenue, leading to increased profitability. Learn more or contact SDI to get started.

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