4 Best Practices for Spare Parts Management

Industrial machinery transport services are essential if you need large pieces of machinery moved from one place to another. After your machine is on-site and set up, you will typically need replacement parts. That's where industrial machinery parts replenishment comes in. Industrial machinery movers typically offer the service to help you manage your spare parts. However, there are still some things you can do to improve your bottom line with a well-managed spare motors inventory.

Identify Critical Motors

First, you should get to know your motor inventory. Identify and classify your motors based on how critical they are. Ensure the availability of spares for vital motors by either stocking them in-house, keeping them on-site, or hiring a company for industrial machinery parts replenishment. The spare parts program you have in place should align with the drivers so you can experience timely replacement when needed.

Compare Carrying Costs to Downtime

Maintaining spare motor inventory can be expensive sometimes. Costs include purchasing, storage, material handling, security labor, and inventory carrying costs. Tying up your funds in spare parts also carries opportunity costs versus potential other capital investments. Downtime can be even more expensive, though, so it's important to find a balance that maximizes your return on any spare investment.

Maintain your Spares

Spare motors require care and monitoring, and inactive motors are susceptible to rusting, corrosion, eccentricities, and bearing problems. Protect your motors from corrosion, re-lubricate bearings periodically, rotate shafts monthly, power spares on annually, and remove dust build-up regularly to ensure your spare motors work when you need them.

Hire a Spare Parts Management Firm

Very often, firms use outside vendors to manage their spare parts inventory. In addition to reducing or eliminating inventory carrying costs, spares management firms enable you to share the risks associated with shrinkage, obsolescence, overstocking, and depreciation.

Currently, the U.S. e-commerce revenue is roughly $423.3 billion, and it's steadily climbing. When it comes to industrial machinery, you're going to need spare parts to keep the machines running smoothly. When you're transporting the machines from place to place, let Diversified Transportation Services help you with all your industrial machinery parts replenishment needs.