Spare Part Forecasting

The cost of spare parts generally accounts for approximately half of all support costs. The ability to accurately forecast and procure spare parts is therefore a major driver in the management of support costs. Equipment availability is also directly affected by the availability of spare parts.

LSC’s Repairable Asset Management System (RAMS) holds the necessary data to carry out spare part forecasting assessments based upon predicted utilisation rates and existing operational asset configurations. This ensures that future spare-part procurement is based on, and in line with, future operational needs as opposed to using historical minimum stock re-ordering levels.