ATS: Optimize Your Parts Inventory to Reduce Obsolescence Risk
In the fast-paced world of manufacturing, unplanned downtime is a significant drain on resources and operational performance, leading to substantial production losses. Obsolescence risk is inevitable and occurs in new and old equipment. Your operation is at high risk for downtime when an original equipment manufacturer (OEM) decides to no longer produce a critical part required to run your production line and there is no available inventory of that part or plan to replace it. Proactive maintenance practices such as planned preventive maintenance (PPM) can go a long way toward reducing the occurrence of unplanned downtime events. However, when these events involve obsolete parts that are difficult to source or replace, the disruption is often prolonged. This is why a strong inventory management program and budget is imperative to manage obsolescence risk. Otherwise, the financial impact of downtime events can be catastrophic.
