Because capital assets (equipment) are essential to the operational processes of equipment-driven rental companies, the downtime of the assets needs to decrease. Therefore, within equipment-driven rental companies, preventive maintenance is a key topic.
The availability of spare parts is another important issue in this. It influences maintenance delays directly (in the case of corrective maintenance) or indirectly (in the case of preventive maintenance).
So, to be able to ensure the most effective service and maintenance operation, which spare part is essential when is a critical piece of information. Forecasting the demand for spare parts in time, therefore, is crucial.
You can forecast the demand for spare parts by using rather traditional demand forecast models, such as:
- Reliability-based forecasting
- Time series-based forecasting
- Maintenance planning-based forecasting
A good example of the last model is the maintenance plans. These can be attached to the DynaRent Solutions Suite equipment records, so-called Business Objects. Specifically set up for the unique Business Object (equipment with a specific serial number). They can also be on a more aggregated level, i.e. the equipment brand/type.
Using these Business Objects, you can define whether you should perform a maintenance job periodically. Either on a time basis (i.e. every 6 months), or on a consumption basis (i.e. every 15,000 operating hours). Also, you can link spare part item requirements to these periodical plans.
Forecasting spare parts replenishments
Generating the work orders for the Business Object maintenance plans (based on time and/or consumption) also generates the item requirements for the spare parts needed during the service and maintenance job on the specific piece of equipment (Business Object). That way, you will always have a reliable spare parts forecast in time. Also, you can make sure that the spare parts are at the right location at the right time, together with the equipment which needs servicing.
Aside from that, it also allows you to visually (with icons) inform the service and maintenance department via their dashboards and planning screens about situations which might compromise a smooth service operation, i.e. a work order which is planned to be performed in a week, but for which the purchased spare parts have not been received yet. That way, they can take timely action and ensure smooth(er) service operation.
If you want to know more about the forecasting of spare parts and how the DynaRent Solutions Suite can help with this, please feel free to contact us.