The Future of Spare Parts Management
As told in blog posts before, the growing importance of after sales service has been increasing the demand for spare parts, service parts, as well as replacement, repair and service components. Significantly resulting in high revenues and profits for the manufacturing companies. Regarding this change, companies need to follow up with their processes. New ways to organize and structure projects, orders and market traction.
The spare parts management sector is transforming and changing. Companies need to wake up, because complacency is expensive. Meanwhile E-Commerce is giving access to other markets and cheaper spare parts, also AI, Machine Learning and 3D printing open new ways of redefining spare parts business.
Optimise your processes - reduce costs and errors
Infrastructure and management processes are the key to an optimal running production. Increasingly central to this is field service management (FSM), which has grown in both importance and innovation in recent years.
FSM is now critical for efficiency, visibility, transparency, cash flow, contract leakage, improving first-time fix rates and avoiding unplanned downtime. In order to minimise ordering error and improve customer satisfaction, FSM needs to be integrated with spare parts, ensuring accuracy, speed and continuity. However, not everyone has successfully joined the dots between field service management and spare parts management.
According to a 2017 report from Aberdeen Research, 30 percent of failed service is due to parts unavailability. Nothing frustrates customers (and service technicians) more than the inability to complete the service because a spare part is missing. Having the right parts management system and processes obviously have a beneficial impact on first-time fix rates and mean time to repair, which ultimately leads to an increase in customer satisfaction.
Experience Experts Live at the Spare Parts Business Platform
Experience two days of networking, benchmarking and knowledge sharing with more than 150 of your colleagues in February.
Find out how you can question your business models before disruptors question your market positions. Learn everything you need to know about spare parts and Fiel Service Management to optimize your spare parts business and increase customer satisfaction.
Discuss with us!
Use the roundtable discussions to exchange knowledge and experience and to get advice from experts.
What: Digital spare parts management and interactive spare parts catalogues
When: 13 February 13:30
Who: Olaf Herscher, Docware GmbH