How spare parts pooling increases availability at lower costs

Key Issues with Spare Parts

• High Unused Inventory: Approximately 75% of Spare Parts are never used, leading to waste.
• Shelf Life Concerns: Spare Parts, especially electronic components, have limited shelf lives, resulting in further waste if not utilized.
• Lead Time Challenges: The median lead time for obtaining Spare Parts can be up to five weeks, complicating maintenance and repairs.

Proposed Solution: Spare Parts Pooling

• Pooling Concept: Establish a network where companies can share Spare Parts, connecting internal inventories with external sources (e.g., other companies, suppliers, and potentially 3D printers).
• Data Integration: Create a comprehensive dataset to track Spare Parts across different companies, addressing issues of data quality and standardization.
• Three-Tier Pool Structure:
  • Internal Spare Parts Pool: Allows companies to share parts within their own organization.
  • Industry-Wide Spare Parts Pool: Connects companies in a region to share parts more broadly.
  • Supplier Spare Parts Pool: Links companies to suppliers' current stock, facilitating quick access to parts in emergencies.

Benefits of Spare Parts Pooling

• Increased Availability: Reduces downtime by ensuring necessary parts are accessible when needed.
• Cost Reduction: Sharing resources leads to lower costs per participant, as evidenced by research from the Technical University of Munich.
• Reduced Waste: Minimizes the disposal of unused parts, addressing both cost and environmental concerns.
• Less Manual Effort: Streamlines procurement processes, reducing the administrative burden associated with managing Spare Parts.

Methodology for Implementing Spare Parts Pooling

• Data Cleansing: Ensure that all parts in the pool have accurate identifiers and descriptions to avoid duplicates and improve accessibility.
• Creation of the Pool: Develop a platform that allows users to search and find parts across the network, while maintaining anonymity for the stock owners.
• Optimization Analytics: Use algorithms to analyze data on parts' usage and failure probabilities, helping companies determine optimal stock levels.

Presenters/Sources

• Christian (Presenter)
• Dr. Boyer (CEO of Bomber Group)
• Professor Faulkner (Technical University of Munich)