Spare Parts Management

MOTIVATION

The refining and petrochemical company Unipetrol has decided to take a drastic step towards optimizing its inventory of materials and spare parts. The primary purpose was to reduce capital tied up in inventory while maintaining optimal availability of spare parts for maintenance.

feasibility study

optimal stock level

SOLUTION

The project started with a feasibility study to define the potential for savings, benchmarking and designing an individual action plan for change for each Group company. The first step in the process was a thorough segmentation of the entire portfolio of items according to various criteria. It was then possible to proceed to the actual forecasting of consumption on the basis of planned and unplanned historical consumption. The final step was to analyze the criticality of the individual spare parts and set the optimal stock level.

CONCLUSION

We performed a criticality analysis of the parts, optimized the level and structure of inventory according to real needs and last but not least, we automated the spare parts purchasing process. The result is a 25% reduction in inventory value and elimination of the risk of unavailability of critical parts.