Critical Spares Analysis is used to evaluate the risks and costs associated with storing (or not storing) spares for key items of equipment. It uses probability analysis, component mean time between failure (MTBF) and failure effect analysis to thoroughly evaluate the options and to determine how many of a particular item needs to be kept. Critical Spares Analysis also allows the evaluation of various options for supply of spare parts i.e. on-site, from a supplier, consignment, etc.
How is it used?
Critical Spares Analysis is normally carried out by the engineering manager or a member of the engineering team. Whoever conducts the process will require input from others, i.e. production, equipment experts, original manufacturer and other spares suppliers. They will also need to collect data from production and finance as to the costs of various downtime scenarios of the equipment being analysed.
What are the benefits of applying Critical Spares Analysis?
Most maintenance managers and their teams are quite aware that they do not have all the correct parts in the stores but often they struggle to justify these on financial grounds. They are also aware that when a production process is stopped waiting parts, engineering is usually the first department to be blamed and the part which should have been there all along is only then added to the inventory. Critical Spares Analysis takes away the emotion and guesswork surrounding stores inventory and provides a robust justification for stocking a part and the level of stock of each critical spare. |
