Spares Optimisation

Transfield Worley Solutions’ spares optimisation system provides an auditable process to optimise your inventory without impacting on plant reliability.

The Transfield Worley Solutions spares optimisation process offers:

• optimised stock holding
• identified criticality
• confirmed maximum and minimum stock levels

A structured approach to spares optimisation delivers a cost-effective and auditable method of reviewing or compiling the spare parts requirements of a plant.

The Transfield Worley Solutions spares optimisation process consists of a multi-step approach which amalgamates the different objectives and procedures of the main stakeholders.

The process is implemented through a systematic workshop approach, carried out in conjunction with the client’s maintenance and supply/inventory personnel.

It identifies the client’s systems and procedures, and formulates them into a set of guidelines which are used to guide the analysis into the most cost-effective decision.

Key considerations for developing these guidelines include identifying:

• maintenance strategies
• critical equipment
• repair strategies
• repair/replace values
• rotables
• maintenance management system capabilities
• inventory strategies and policies
• supply service agreements
• slow moving stock policies
• repair contracts
• third-party stock holders
• supply system capabilities
• interfaces between the two main systems

As part of the optimisation process, Transfield Worley Solutions uses a number of specialised tools, including software packages which help us recommend maximum and minimum spare parts inventory levels, as well as a criticality value for each item. These values are calculated by taking into account the main considerations of inventory control — annual usage, value, number of identical items, unit of issue and lead time — as well as the impact on safety, production and environment.

Our process helps identify which spares are easily obtainable or hard to get, enabling you to manage your supply chain better. We are able to provide a cost/risk analysis of critical and high-cost items — useful when evaluating the risk and consequence of not stocking high value, slow moving, insurance-type spare parts. It’s about asset management.

The result is a clear indication of the return on capital employed in maintaining an optimum spares inventory, with production and financial benefits.

By reducing the capital investment in spare parts, having a secure avenue of access to critical spares available, and possibly re-engineering part of your plant to lessen its dependence on high-cost or hard-to-get spares, you are able to release vital capital and maximise production.