Spares Management
Failure to hold an optimum level of spares exposes the business to risk. Some spares cause excessive downtime when they fail, are high cost and have long lead times, whether it is critcal spares, capital spares and maintenance spares.
Insurance Spares
spare parts that are not expected to be equipped in normal life but if not available when needed would result in significant losses
Spares Obsolescence
Refers to the loss of the original manufacturer parts either due to production termination or technical support no longer offered by the OEM
