Ever looked for a spare part and didn’t find it? Well, you’re not the only one.

After all, what are those elements of a successful inventory management plan that we tend to forget about until we register their lack, causing all hell to break loose? The answer is spare parts. 

It is critical for any manufacturer or maintenance staff to have a well-managed spare parts inventory. A lack of planning for spare parts may lead to inefficient inventory storage, resulting in unanticipated downtime and unforeseen expenses.

For the sake of your company’s long-term performance, keep on reading for our full breakdown on how to streamline your auto spare parts management.

Managing Spare Parts 101: What’s Your Operation Strategy?

Predictive and reactive strategies are an essential part of any operational strategy.

Many companies have the bad habit of developing an operational strategy in response to unforeseen circumstances. In short, you need a predictive approach to get good spare parts management.

It might be impossible to forsake a reactive approach to maintenance management. Yet, the basis of effective leadership is the capacity to foresee and prevent future issues. 

Create a Standardized Work Order System

It might be beneficial to adopt a solid yet straightforward work order procedure for inventory management. Once you’ve examined the process, it will be simple for everyone to understand.

To keep the inventory management system proper, active work order has to have adequate standards, especially for distributing components. As a result of developing a less complicated work order procedure, all relevant information is recorded.

Control Your Stock With an Iron Fist

For a part to be removed from the order, a record of its removal is necessary. In the same way, if fresh merchandise is put on the inventory shelf without a document, you can’t trace it back to its originator.

To eliminate inventory inaccuracies, you’ll need to do an inventory check-out. You’ll also want to consider running a stocking system analysis. Some more ideas for inventory control include the following.

First, you’ll want to work on identifying and classifying spare components. Then, perform regular inventory checks on spare parts. This will help you see whether you have an excessive number of particular types of spares on hand.

This could help decrease your inventory costs.

Next, in a dedicated area, store and handle spare components. This way, you’re reducing the risk of parts going missing.

Keep an Up-To-Date Bill of Materials

The winning recipe for producing a final product that is light years ahead of its rivals lies in your bill of materials (BOM).

Because of this, you must maintain your BOM up to date. It’s critical for planning preventive maintenance and avoiding inventory errors.

Regularly or semi-regularly, examine your BOM and add or delete pieces as required. 

Be Aware of Your Lead Timings

An effective spare part management plan requires familiarity with the lead times for each item since this will aid in your decision of which parts to maintain in what quantity.

What machines are crucial to your organization’s performance may be determined by observing and studying the machines in use. Spare parts should be readily accessible for the machinery that your firm relies on every day, which will help avoid downtime.

Spare parts do not need to be stored for machines that are not mission-critical or not utilized daily since you may obtain them fast enough to minimize downtime and financial loss and so can be excluded from the stocking plan.

As a result, you must have a supply of components with extended lead times on hand, as most of these parts are custom-made.

Improve the Security of Your Warehouse

Even though it may seem apparent, you cannot ignore inventory discrepancies. Even if you believe you can put your faith in every member of your team, this may not be the best course of action.

Do the following to strengthen your warehouse’s security:

  • Teach employees how to care for and inspect spare components properly
  • Install physical security measures, such as lockable closets
  • Add surveillance cameras at the warehouse’s entry and exit to ensure the safety of the goods
  • Implement new rules specifying that only specified staff are allowed to visit the warehouses for stock purposes

Don’t Be Overly-Reliant on Modern Technology

Many people assume that since a piece of machinery is new, there is no need to have a stock of replacement parts.

One may agree that this is logical, but regrettably, suppliers don’t always provide computers with high-quality, properly performing components.

This means that you can’t put your business in danger by assuming that all of its components will be functioning since a piece of equipment is new.

Invest in a Top-Notch CMMS System

CMMS (computerized maintenance management system) software has been developed to support individuals with their maintenance management efforts. The ideas mentioned above will be simpler to apply if you have a system like this in place.

There is a hurdle, however, is finding the right CMMS for your organization’s requirements.

Preventive maintenance scheduling, work orders, and asset management are all included in various CMMS on the market. You’ll want to make sure to do your research and pick a reputable and well-rounded software like the one offered by https://www.tekmetric.com/.

Running an Auto Spare Parts Store: Simplified

Whether you’ve been in the auto business for decades or you’re just opening your new shop, trying to keep up with your inventory of spare parts is not a job for the faint of heart. 

Hopefully, our guide has shed some light on the nuances of managing your spare parts inventory. And, if you liked reading our article, then you’ll love checking out our additional tips and tricks. All of them (and other guides) are available to you in our automotive section.