The white paper presents a new approach to spare parts inventory management using reliability engineering principles to optimize inventory and minimize downtime. The approach focuses on reducing excess inventory, implementing continuous governance policies, and addressing common challenges encountered during implementation. The paper discusses the benefits of using reliability engineering principles, such as improved equipment uptime and reduced costs, and provides best practices for implementing these strategies. Overall, the paper provides valuable insights for companies looking to optimize their spare parts inventory management and improve their overall equipment reliability.
