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Asset Performance Management (APM) Software

APM Reliability: Reducing operating downtime through cost optimized spares holdings

8 mins

Video details

Production Output is lost when unplanned downtime occurs. This is made worse when maintenance or repair time is extended while waiting for critical spares to be delivered. However, unnecessary costs can also be accrued when more high value critical spares are held than are necessary to ensure minimum downtime.

Minimizing operating costs requires optimum inventory holding levels to be planned in advance. This can be achieved using Monte carlo simulation to predict failures, repairs and supply chain performance against varying operating scenarios.

This demo will use APM Reliability Spares Analysis to demonstrate how spares holdings can be cost optimized for minimum downtime awaiting spares.

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