Spares
Module
Software to simulate and optimise inventory and spares management policies
Data driven
Easily configure suppliers, materials, target stocks and failure distributions
Dynamic simulation horizons
Simulate operational impacts from days to years
Optimise policies
Determine the optimal stocking policy for a fixed budget
Powerful decision support
GEAR Spares combines simulation and optimisation to analyse procurement and stocking policies of key spares.
Simulation
Assess how a spares policy plays out over time to determine production impacts
Optimization
Determine how a fixed budget should be allocated to minimise production impacts
Model complex policies
Assess how policies have an impact on downtime, throughput and lost opportunities.
These include:
- Procurement lead times
- Part substitutability
- Minimum stock levels
- Target stock levels
Powering Spares Management Decisions
Use Cases
- Given historical failure rates, how does the current inventory management policy play out over time? (outages, procurement frequency, lead times, production impact)
- What is the relationship between capital allocation for insurance stock levels and system impact?
- Where can extra budget be allocated optimally? i.e. What are the optimum stock levels of spares for a given budget to maximise asset productivity?
