Spares Management: Overcoming Overstocking in the Marine and Offshore Industries

How is Spares Management handled in your organization?

The methods used to determine spare parts and stocking strategies in the marine and offshore industries are often less than scientific in their approach. Incorrect stocking strategies are commonly exacerbated by poor inventory lifecycle controls, which lead to gross overstocking.

Identifying a methodology to optimize spare part stocking strategies utilizing engineering and data is critical to recognize significant cost savings. Implementing quality metrics and processes results in the continued refinement of these strategies to maximize savings while avoiding stock shortages.

There is a tremendous opportunity for cost savings locked within your Maintenance, Repair and Overhaul (MRO) inventories. The extent will vary based on how your organization is managing them. ABS Group can assist with your maintenance, reliability and inventory management needs, helping you progress through your journey to world-class performance levels.

Complete the form and read how your organization can determine if your inventory is overstocked and how to optimize and maintain adequate part levels.