Spare parts: stock the critical ones without overstocking

Every store room has two problems at once: dusty parts nobody has used in years, and the one part you need today that is not there. Both come from stocking by habit instead of by risk.

Start with critical assets

Look at your A-ranked assets. For each, ask which parts fail most often and which parts would take longest to get. A part that fails often or has a long lead time on a critical asset is a strong candidate for the shelf.

Set a minimum and a reorder point

For each stocked part, set a minimum quantity you never want to fall below, based on how many you use while waiting for a new order to arrive. When stock drops to that level, reorder. Let your system send a low-stock alert so nobody has to count shelves.

Know where every part lives

Parts on vans and carts are still inventory. Track them by location so technicians can find the nearest one and so you do not buy what you already own.

Clean out the dead stock

Once a year, list parts with no use in a long time. Check if the equipment they fit still exists. Return, sell or scrap what is no longer needed, and free up the space and money.