M&H Energy Services can work with your staff
to minimize warehouse inventories while protecting parts availability.
Our experts use
analytical means and experience-based common sense to provide practical
results to the effort. The following describes the complete process
in more detail.
This is a cursory review of existing data using
a computerized analytical tool. It provides conservative estimates
of potential
inventory reduction
as a result of the optimization project, which are typically used
for a cost benefits analysis regarding the remainder of the project.
This
is the process of reviewing inventory data to verify accuracy.
This review includes:
- Verifying equipment data in Master Equipment
List (MEL)
- Verifying parts data in Stores database
- Verifying cross reference
between MEL and Stores
Typically large amounts of inventory are no longer appropriate
for existing equipment.
For rarely used key (expensive) items
it typically makes sense to share stock between warehouses. If
formerly independent warehouse
operations are being consolidated, the savings should be significant.
Parts availability requirements are based on equipment criticality.
Our staff can establish criticality or use information that you
provide from RCM or other means.
Lead
times are verified based on current arrangements and alternate
sourcing options can be reviewed, balancing availability risk with
cost of handling. Resulting lead times are factored into stocking
recommendations.
PM
Spare requirements and the experience of our staff are used to
determine appropriate stock levels for frequently used items.
We use a sophisticated
computer-based tool that uses lead-time, availability requirements,
and projected mean time between failures
to recommend reorder points for rarely used items. The program
relies on statistical analysis and empirical data.
Our team will work with your organization to
develop detailed recommendations of how to most cost effectively
adjust actual inventory to recommended
levels.
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