Reducing Inventories. Increasing Availability.
Manufacturing companies have high spare parts inventories to be able to react in the event of a machine failure. This is reflected in high costs for procurement and warehousing, even though 42% of all spare parts are never used and end up scrapped. With reliable data at hand, spare parts inventory can be optimized without having any availability risks.
How to safely reduce spare parts inventories?
SPARETECH identifies synergies at the push of a button. In the first step, SPARETECH's solution ensures transparency by uniquely identifying spare parts through state-of-the-art technologies from the fields of semantic data management, Big Data and automated data processing. In the second step, duplicates, discontinuations and common parts across locations are made visible and original manufacturer product information is added. The result is a complete and error-free database.
CUSTOMER VOICE
"Thanks to the efficient and reliable data preparation of over 30,000 material numbers, we were able to immediately start reducing inventories in all plants."
- 90.000€
Procurement costs
Identify duplicates to stop any double stocking
Cleaning up your data, especially removing duplicates from the system can be a lengthy process, hence it is important to reduce unnecessary high stock levels. SPARETECH identifies duplicates by a push of a button. With that information at hand the process of removing duplicates and definition of leading material numbers can be started. Get the full guide on how to find and remove duplicates in your material master.
Always up-to-date about discontinued products
By providing information on discontinuations and successor products from manufacturers we enable manufacturing companies to stock spare parts smarter. With obsolescence information at hand, you can prevent costly purchases of obsolete items. This way you can always be sure to have the right spare parts in stock in case of a machine failure.
Identify your real demand based on availability
Optimizing stock levels based on part availability is a strategic approach to efficient inventory management. By making data-driven decisions, you can ensure that essential parts are on hand when needed, while stock levels can be kept at an optimum. SPARETECH shows you if a needed spare parts is available in your production network and unveils alternative sourcing options. This enables you to always make the best stocking decisions.
Benefits of managing spare parts data with SPARETECH
-21%
Inventory
Identify duplicates and discontinued parts to sustainably reduce stock levels.
-45%
Machine downtimes
Rely on verified data to have the right part in the right place at the right time.
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-7%
Procurement costs
Compare procurement options to achieve savings through substitutes and bundling effects.
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-57%
Manual effort
Save yourself the trouble of searching online/catalogs and let the software create and update the master data in seconds.
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What others say
"SPARETECH checks all new spare parts lists automatically, which means an increase in efficiency of more than 50%. This is how digitalization works!"
"Thanks to SPARETECH, we achieved time savings of over 50% in searching and material creation. At the same time, our data quality and completeness increased significantly."
"Thanks to the efficient and reliable data preparation of over 30,000 material numbers, we were able to immediately start reducing inventories in all plants."
"If data is going to be the new gold, it has to reach every customer correctly and completely. Together with SPARETECH, we are working hard to realize the enormous potential deriving from data.”
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"SPARETECH has enabled us to reduce our spare parts inventory by 135.000€ at the push of a button."
"The SPARETECH algorithm recognizes duplicates better than anything we have seen before. Duplicate stocks are a thing of the past for us."
"SPARETECH performs pioneering work at the data level so that our service teams can proactively support joint end customers in resolving technical clarification cases. A real win-win-win situation."
"We are impressed by SPARETECH. Our search times have been reduced by over 50% and for additional questions the support is always available."
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SPARETECH is the fastest and most reliable way to reduce inventories and costs in spare parts management.