NewYearNewParts

A New Year = A New Strategy for Your Spare Parts

2015 is upon us! You, just like many others, have set goals and made plans for the new year ahead. So, with your personal goals set, why not turn your attention to your company’s? Your spare parts and MRO inventory are an often undernoticed and underappreciated place to start when searching for areas that can add tangible value for your organization.

The start of a new year is one of the best times to institute changes as you and your colleagues have come to face your tasks and work with a fresh and renewed mindset. New projects, new energies, and perhaps even new faces are all ready to start making a noticeable impact. But where to start?

The first step to take in initiating a new strategy is to determine what your organizations goals are. Some of the goals of organizations we have encountered include: reducing spare parts inventory to reduce investment; improving uptime; improving overall equipment efficiency; optimizing MRO inventory stores; cleansing MRO data; and creating auditing compliance. Do any of these sound like tangible, valuable goals for your organization? If they do not, either your organization is not asset-intensive, or you are unfortunately misaligned.

Other important questions arise once your goals for the year(s) ahead have been set. How do you ensure your whole organization buys in? How can your organization accomplish these goals? How do you stay on track?

All of the goals mentioned above fall into the category of value-added goals, and result in either necessary compliance, or the creation of value for your organization. Quite simply, this is how you ensure your organization buys in.

How do you accomplish the goals you have set out and stay on track? In order to effectively accomplish these goals, undertaking a step-by-step process that involves every facet of your organization (maintenance, purchasing, finance) is imperative. Not only does this process keep you honest with each other, it creates an internal auditing system that ensures the project at hand stays focused.

Ultimately, the question still remains: How do you build this new strategy for your spare parts? How do you determine the details? It is built through a combination of the factors we have already discussed. Goals must be broken down into individual, actionable tasks that can be completed on realistic deadlines. The project must always keep moving forward, as stagnancy is not an option.

Whether you want to take control of you spare parts inventory, utilize inventory optimization software, address your MRO asset performance management, or simply get up to par with auditing compliance, an effective and actionable strategy can easily be implemented, and MROConnection is here to help. The New Year is the best time to get moving and set goals. If you want results, contact us at info@mroconnection.com or at 1-855-456-1003 to discuss your options.