IMARC Group launches spare parts planning and inventory setup services

IMARC Group has launched new services focused on spare parts planning and inventory setup, designed to help organizations ensure operational continuity and cost efficiency.

The services aim to minimize equipment downtime by ensuring the availability of critical spare parts, while also optimizing inventory levels to reduce holding costs and stock obsolescence. IMARC Group's approach utilizes data-driven planning, industry benchmarking, and feasibility assessments.

The process involves integrating forecasting models, consumption data, equipment criticality analysis, and vendor management. Key elements include classification of spares, criticality analysis for stock prioritization, safety stock calculations, reorder levels, and lead time planning.

IMARC Group has previously assisted companies in optimizing their spare parts management. A steel plant in Southeast Asia reduced its spare parts inventory by 22% without impacting availability, and a power utility in the Middle East decreased emergency procurement by 38% through a centralized strategy.