How do you manage your critical spares?

Risk-based spare part management is a key capability for oil and gas companies to achieve the target production performance for their assets. Managing spare parts effectively allows the operators reduce the downtime unavailability due to failure of safety or production critical elements.

The main benefits of an effective spare part management are:

  • optimizing inventory levels (lower carrying costs and reduced obsolescence)
  • increasing overall production uptime
  • reducing logistics costs through efficient recovery, consolidation, and repair of defective parts
  • improving parts visibility (efficient parts tracking)

ORS provides spare part services where commercial impacts, safety consequences, delivery-lead times and write-off costs are taken into consideration. The main steps applied in spare part management are:

  • Identification of parts
  • Spare part classification
  • Spare part criticality assessment
  • Inventory prediction and location
  • Spare part inventory control
  • Spare part review and continuous improvements

 

A systematic repair or replace analysis is also performed as a part of spare part classification where following assessments are done:

  • Repairable or Consumable
  • Repair time, MTTR
  • Lead time
  • Historical Usage
  • Alternative parts

Risk assessment is used as a central tool at each step of the spare part assessment where the critical spares are identified and inventory optimization is achieved.  Most commonly oil and gas companies apply a min-max system for spares where individual judgments form the basis of the inventory control.  A risk-based spare part management approach is a powerful alternative to the traditional spare part control efforts.

Contact our specialists to hear more about how we help oil and gas companies with risk-based Spare Part Management Services. Our specialists are experienced from working with spare part control and planning tools from multiple mainstream Enterprise Resource Planning (ERP) systems (such as SAP and similar).