The Nine Keys to Maximizing Profits and Equipment Uptime through Inventory Management for Maintenance Parts

CIM MEMO 2011
Abstract We will present the summary of a number of case
studies in which mining organizations have
succeeded in maximizing equipments uptime through
a reduction of the number of maintenance parts
stock outs by 80% while reducing the inventory of
maintenance parts by more than 20%. We will
present a very comprehensive methodology to
improve business processes that will lead to the
optimization of inventory management and
forecasting.
We will examine
• Demand management optimization
• Forecasting optimization
• Inventory management parameters
optimization
• Improved replenishment processes
• Inventory optimization followed by the
right KPIs and exception reports

We will illustrate with examples from Areva in
Africa, Iamgold in South America as well as Osisko
and Aurizon Mining in North America. We will
discuss World Class Inventory Management practices
in a maintenance environment. We will present how
an integrated approach involving a strong
Enterprise Asset Management or CMMS system with an
Inventory Optimization system specially designed
to manage spare parts can deliver concrete
results.
Keywords: Maintenance, Spare Parts, Inventory
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