<img src="https://secure.leadforensics.com/133892.png" alt="" style="display:none;">

An equipment-driven rental company relies on the consistent functionality of its capital assets like equipment to run its operational processes efficiently. Hence, any downtime of the assets would disrupt the process, which might, in turn, lead to revenue loss. Proper and timely maintenance is essential to eliminate such operation interruptions.

What is preventive maintenance?

It is equipment maintenance done at regular intervals on well-working equipment as a preventive measure. The objective of preventive maintenance is to reduce the probability of crashing of a piece of equipment.

Why is the availability of spare parts important?

One of the critical challenges that cause delays or irregular maintenance efforts is the unavailability of spare parts. Though the effect of it is more severe in cases of corrective maintenance, spare part availability also impacts preventive maintenance.

Forecasting of demand for spare parts

With timely forecasting of demand for spare parts, you can avoid delays in maintenance. You can turn to traditional demand forecast models such as Reliability-based forecasting, Time series-based forecasting, and Maintenance planning-based forecasting.

Maintenance planning-based forecasting can be done through maintenance plans, which can be attached to the equipment records of DynaRent Solutions Suite. These equipment records or business objects are uniquely set up as equipment with a particular serial number. You can do this set up at an aggregated level like equipment brand/type.

These business objects can guide the occurrence of maintenance activities. You can even determine the frequency of the maintenance and connect the periodical plans and spare part time requirements.

How to forecast spare parts replenishment?

You can generate work orders for time-based or consumption-based Business Object maintenance plans, which in turn sets up the item requirements for the spare parts that are essential for the maintenance and services efforts of equipment. This procedure will ensure you have a credible forecast of spare parts replenishment in time. Furthermore, it also makes sure that the spare parts reach the right location on time to enable efficient servicing of the equipment in question.

The dashboards and planning screens enable you to keep the service and maintenance informed about the status of spare parts. As the solution provides a visual representation of this information, it makes communication more effective. These screens also help identify situations like work order or purchase delays, which might cause hindrance in the service operation. To summarize, this solution allows you to take action in time and perform service operations seamlessly.

Want to learn more about forecasting of spare parts? Our experts help with that and other equipment-rental related problems.

New call-to-action

Discuss this post

Recommended posts

I think all M3-users would like to be notified when something happens that they really need to act upon. Here is how.
Seventy percent of major change-management initiatives “don’t achieve the objectives they set out to achieve.”  
For enterprise CFOs, there's no shortage of stressors these days. The list of headwinds includes:
There's a double-edged dilemma in play for CFOs these days. On the one hand they know that investing in new technology — like having a fully modern, cloud-based ERP in place — is critically important for their enterprise to grow and thrive.
Sometimes laying the right foundation is everything. That's why when the time comes to choose and implement an ERP solution for your business, the difference between whether you realize its full benefits or not often comes down to a single crucial word: preparation.