Do you have proper management that will keep your auto spare parts organized? Do you have too much of the wrong spares and need to write off part of your inventory each year? Do you are able to fulfil the spare parts demand in market?
Spare parts management is an essential function of any service workshop. Managing spares is a little complex process because of their operating cost restraints. So here are some vital points for successful Spare Part management.
With operation strategy it assists an organization with the allocation of spare parts in such a way that it is able to support infrastructure and production.
It includes proper collection and analysis of data, and the ability to look at the entire scope of operation to locate and solve important problems that may surface in long run. We need to identify which Spare Parts are required for one time purchase and which spare parts are regularly required by the clients, so that we are able to analyse the demand and be sure to look out for patterns of failure that can reveal problems that are not clearly visible.
Systemize Work Order Process:
Work order process is the most important and vital process as it is helpful in effective inventory management. The troublesome work order process will lead to misguide your employees to place order of the stock . Therefore we need to make a proper guideline for work order, so there is smooth functioning and there are no discrepancies.
Inventory management is essential function as it helps you control your inventory and save it from creating dead stocks. Therefore, you need to list down all your inventory so that you are able to get a analyse that which stock is needed and which stock is already there.
When you periodically review your inventory, you can be clarified between the importance of different spare parts and accordingly classify them. If there’s abundance of a particular spare part and comparatively less sale, you can clear out some of the excess in order to stock products with more demand.
Understanding of Lead Times:
Lead time for spare parts is for considering which parts to stock and in what numbers and volume. You need to understand for which parts long lead times can be created and for which are easily obtainable creating successful spare part inventory management.
Deal With Reliable Suppliers:
Many a times it happens that the spare parts which you purchased are of poor quality, thus can result in failure, vehicle damage and more maintenance work. Stocking the parts from reliable suppliers where all your parts requirement are fulfilled and you get Quality assurance products.
Adopt Security Measures:
Security measures should be taken to ensure the security in warehouse. We can limit access to the parts of warehouse as it is important to maintain inventory accuracy as if all are allowed there will be inaccurate inventory. So to avoid such things we can take some steps like : we can put cameras in warehouse, make access to parts inventories off-limits for some staff.
Maintenance of Spare Parts:
Spare Parts which are stored in warehouse do require maintenance. Keep the products away from sunlight specially the rubber products. Use FIFO (First In First Out) approach with stock. Keep the parts in original packing as recommended by the manufacturer.
These are some of the ways in which you can manage spare parts in your store.