Spare Parts Management
Spare parts management is the process of planning, procuring, storing, and issuing replacement components and consumables needed to maintain and repair assets. It involves determining which parts to stock, setting minimum and reorder quantities, managing supplier relationships, and ensuring parts are available when needed without carrying excessive inventory. Effective spare parts management balances availability against holding costs.
Why it matters
Spare parts availability directly affects MTTR and equipment downtime. If a critical part is not in stock when a breakdown occurs, the asset remains out of service until the part is procured, which can take days or weeks for specialist components. Conversely, overstocking ties up working capital and risks parts becoming obsolete. Optimised spare parts management reduces both downtime and inventory costs.
How MapTrack helps
MapTrack tracks spare parts inventory alongside asset records, links parts usage to specific work orders, and provides consumption data to help teams set optimal stock levels and reorder points.
Frequently asked questions
How do you determine which spare parts to keep in stock?
Parts stocking decisions should consider the criticality of the asset, the lead time to procure the part, the cost of downtime if the part is unavailable, the part’s shelf life, and historical consumption rates. Critical spares for high-impact assets should always be stocked even if they are expensive and seldom used. Low-cost, frequently consumed items should be managed with automatic reorder points.
What is the difference between spare parts and consumables?
Spare parts are components that replace worn or failed parts in an asset, such as bearings, pumps, or circuit boards. Consumables are items that are used up during maintenance or operation, such as filters, lubricants, welding rods, and cleaning supplies. Both require inventory management, but consumables typically have higher turnover and more predictable consumption patterns.
Related terms
Work Order
A work order is a formal document or digital record that authorises and tracks a specific maintenance task. It typically includes the asset identification, description of work required, priority, assigned technician, parts needed, safety requirements, and completion details. Work orders provide a structured workflow from request through approval, execution, and closeout.
Computerised Maintenance Management System (CMMS)
A CMMS is software that centralises maintenance information, automates work order management, and tracks the upkeep of physical assets such as plant, equipment, and fleet. It stores service history, schedules preventive tasks, and manages spare parts inventory. Organisations use a CMMS to move from reactive, paper-based maintenance to a structured, data-driven approach.
Mean Time to Repair (MTTR)
Mean Time to Repair (MTTR) measures the average time required to diagnose and fix a failed asset and return it to operational status. It includes diagnosis, sourcing parts, performing the repair, and testing. MTTR is typically calculated by dividing the total repair time across all failures by the number of failure events in a given period.
Corrective Maintenance
Corrective maintenance refers to repair or restoration work carried out after a fault, defect, or failure has been identified in an asset. It may be triggered by an operator report, a failed inspection, or an unexpected breakdown. Corrective tasks range from minor adjustments to major overhauls, depending on the severity of the issue.
Total Cost of Ownership (TCO)
Total Cost of Ownership (TCO) is a financial metric that captures all costs associated with owning and operating an asset over its entire lifecycle, including acquisition price, financing costs, maintenance and repair, fuel or energy, insurance, registration, operator costs, downtime costs, and disposal or residual value. TCO provides a comprehensive view of the true cost of an asset beyond its purchase price.
See how MapTrack handles spare parts management