Spare parts are also called “spares.”
Service Parts Management is the main component of a complete Strategic Service Management process that companies use to ensure that right spare part and resources are at the right place (where the broken part is) at the right time.
Spare parts are sometimes considered uneconomical since:
But without the spare part on hand, a company's customer satisfaction levels could drop if a customer has to wait too long for their item to be fixed. Therefore companies need to plan and align their service parts inventory and workforce resources to achieve optimal customer satisfaction levels with minimal costs.
The user of the mechanical item, which might require the parts, may overlook the economic considerations because:
In many cases where the mechanical item is not stationary, a compromise is reached between cost and statistical probability. Some examples:
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