Keeping Spare Parts Is Always a Good Idea

Keeping spare parts is always a good idea, whether you manage a department in the oil and gas, work in wind energy, pipeline or petrochemical industries. Preparation for unplanned repairs is a crucial function of your job.

When things do break down or wear out, you have a clear advantage when you have spare parts on hand to meet your needs. Here are more reasons why spare parts should always be a part of your inventory.

Assurance of Quality Fitting

When you keep the right spare parts on hand for your needs, you will always have the quality parts to make repairs and replacements.

The inherent surprise nature of unexpected repairs often necessitates practical action in getting a replacement part. Unfortunately, the urgency of situations like these usually means there is little or no time for parts vetting for quality and compatibility.

When you do not have spare parts, you may use "make-do" parts or parts from questionable suppliers until you can get all the parts you actually need. That is not only sub-par, but it can endanger lives, depending on the circumstances. The key to avoiding the last ditch of substituting a "make-do" part is maintaining a spare parts inventory on-site or employing a mobile unit service that can keep your inventory stocked when needed.

Spare Parts Save Money

When a piece of equipment breaks down and needs a spare part—and it always will, eventually—it's usually essential to get that equipment back up and running as soon as possible.

In that eventuality, everything stops to source the required part. Production lines cease, labor gets pulled off the line, and department heads must focus on finding the necessary part.

All of this costs time and money. With no output, you would not meet the day's quote. Personnel would be unable to work valuable hours since the equipment is down. And, once you finally source a spare part, the part will also cost premium rates and expedited shipping to the site.

All this waste of time and money can be avoided by having the foresight to retain an inventory of essential spare parts. Buying and stocking up will get the best prices and bulk shipping. Better yet, you can avoid shipping costs altogether. You can reduce downtime with spare parts and maintenance you need on hand.

Better Client and Partner Relationships

Many energy companies operate under agreements with clients and partners. It is essential to keep these relationships in good standing. One critical component of solid industry partnerships is your company's ability to keep its promises in terms of production. Equipment failure due to a broken part jeopardizes the partnerships that enable a company to remain in business.

Avoiding that pitfall is another good reason to keep spare parts on hand for all essential equipment. Anytime an equipment malfunction occurs due to the failure of a part, a well-stocked spare parts inventory is your solution. With spare parts, you can get that piece of equipment back up and running before heavily impacting production lines. Partners and clients will retain their trust that the company can function consistently, as agreed.

Avoid Supply Chain Problems

Supply chain problems can cease operations like nothing else. Most companies should realize this now, even if they didn't previously. The need to keep a well-stocked inventory of spare parts on hand is now patently clear.

When a company stores its spare parts, it elevates itself above competitors that don't. Those competitors must curtail operations while waiting for some parts to arrive from overseas from a parts factory that has temporarily ceased operations. Planning and a willingness to create a stockpile of spare parts can curtail this frustrating scenario.

With so much on the line in the energy industry, stopping production and output while waiting on a spare part isn't your best bet. Preparing for parts emergencies by keeping spare parts on hand will help ensure that your company can consistently achieve its output goals.