Spare Parts Management
A spare part is useful only when it reaches point of usage - precisely when the technician needs it for getting production equipment back in order. Management of Spare Parts is not like management of any other inventory. Overall cost of spares may be small when compared to cost of total inventory or purchases. But it is quite common to find an organization carrying spare parts with value of 3 years or more when compared to annual usage value. This is mainly because, literally - a 'kingdom' could be lost for 'want of a nail'
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