A Roadmap to Spare Parts Optimization

A Roadmap to Spare Parts Optimizationby Brad Moore
Senior Project Manager, PinnacleART™
featured in Inspectioneering Journal, September/October 2015 Issue

Introduction
Operators in all industries are trying to increase equipment availability – the probability that an asset (or system) will be operational (either running or able to be run) at any given time. Yet oftentimes, critical process equipment is not available due to planned or unplanned maintenance. To increase equipment availability, steps must be taken to reduce downtime.

One way to reduce downtime in a refining or petrochemical facility is to ensure that spare parts are organized and available in the event repairs are needed. The activities included in spare parts optimization include the following:
• Identifying the potential challenges or roadblocks,
• Spare parts identification and association with the appropriate equipment,
• Determining the appropriate stocking decision methods (quantitative or qualitative), and
• Setting minimum stock quantities.