Increased Production Through Improved Spare Parts Availability

In today?s environment, the availability of production equipment is a must to increase throughput and profits. For a number of mining organizations around the world, spare parts availability is key to achieving this goal. Fortunately, having less production equipment immobilized by a lack of spare parts does not equate to increases in inventory levels or in carrying costs. Advance operations research has shown a number of avenues to increase equipment availability while reducing total investment in stock. The presentation will explore these avenues by focusing on key inventory management changes that can be implemented by organizations to optimize their service and stocking levels. We have successfully applied our approaches in start-up mining projects, in mature projects and in end of life mining operations. We will illustrate our methodology using examples from our work with > 30 mining sites around the world.