Three ways to implement Service Parts Management

Written By: Vinod Arekar
  • 5/10/2017

Is your parts management and supply chain in disarray?

It might be time for a service parts management (SPM) solution

By developing service parts management (SPM) solutions, companies and organizations can tackle global supply chain inefficiencies to meet their service level and profitability goals, among other competitive advantages. Here are three considerations to get you and your organization on the path to improved customer loyalty and brand reputation, lower total costs, and increased revenue streams.

Think beyond a software solution. A parts planning strategy can’t just be a software solution in search of a problem, but rather a process and a tool responding to a business challenge. Think of it as a business decision. Start with an organizational desire to be more efficient or better serve customers. One quick observation: it requires a business-level buy-in and C-suite commitment.

Dedicate staff for SPM. Assign a highly focused project team dedicated to the launch. Each member can play a crucial role in the success of the project. It’s obviously necessary that go-lives run smoothly, on time and within scope, so your team needs to be prepared with everyday tasks, right down to managing data across myriad locations.

Think and manage holistically. SPM gives companies the power to manage a parts ecosystem as a whole, evaluate product mix, and procure the optimal inventory levels. Once the right parts are procured in the right locations, costs can decrease and so can excess inventory in your supply chain. Think big picture for success.

By implementing a service parts management solution, your organization’s inventory availability can reach optimal levels, you can pivot quickly in a changing marketplace, gain business momentum, and ensure the best customer service.

Want to read more about the real-world example of how one PTC customer successfully deployed SPM? Get the nuts and bolts on how they developed a buttoned-up approach that led to a reactive and agile supply chain that lets them react quickly to changes – among other huge bottom-line advantages. Read how here.

Service Parts Management Checklist

  • CAD
  • Retail and Consumer Products
  • Connected Devices

About the Author

Vinod Arekar

Vinod Arekar is a service supply chain expert at PTC and as a Fellow he leads strategic initiatives overseeing several accounts to ensure success. Vinod’s strategic thinking and experience have helped bring the concept and application of Service Simulation to PTC. This and other innovations have helped propel Servigistics to be recognized as the industry leading service parts optimization solution. Vinod is a popular presenter at the annual LiveWorx event from sharing exciting success stories together with the clients with which he collaborates.