Parts Management - Improved Inventory Management for Automation Systems

Parts Management - Improved Inventory Management for Automation Systems

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Honeywell’s Parts Management program provides users with an alternative to the high cost of purchasing and maintaining a spare parts inventory themselves. The program ensures users have the right parts on hand when needed and helps maximize system uptime.

Under the Parts Management program, Honeywell owns the spare parts inventory and guarantees their availability so that users don’t need to make capital outlays for spares. It ensures higher uptime for control systems and the plant at lower costs.

In addition, Honeywell helps users evaluate their needs, based on historical trends and failure statistics for all system components and establishes an initial benchmark for the spares being carried at the site and in its bonded warehouse stock. As a result, users are able to get precisely the spare parts they need, right when they need them.

Honeywell guarantees availability of parts under the Parts Management program. Critical spare parts are stocked on site, while backup for less-critical parts is only a phone call away, with shipment usually within 24 hours from order acknowledgement. Regularly scheduled audits further ensure that spare-parts and printed-circuit inventories are maintained at the proper levels, increasing uptime and minimizing scrap.

Using a comprehensive financial analysis, users can assess the Parts Management program’s operational and financial value to their business. Budget predictability is ensured through fixed fees for the program. In addition, warranty protection only begins when a part is used, not when it is placed in inventory.​

​Maintenance, repair and operations (MRO) inventory carrying costs in most plants range between 35-40% of the total inventory costs. The Parts Management program ensures lower capital costs for users by doing away with the need to own and manage spare parts. It keeps processes running smoothly and maximizes uptime by getting users the parts they need in the shortest amount of time based on the Parts Management contract signed.

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Lifecycle Management Enables Success with PRALCA Modernization ProjectThe need to implement advanced control strategies to improve plant efficiency, as well as spare parts considerations with the aging DCS, prompted the plant’s migration to Honeywell’s Experion PKS.230.77 KB9 Nov 2012
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