The Spare Parts Puzzle: Insights with Richard Jeffers

Welcome to the Trend Detection podcast, brought to you by Senseye
Predictive Maintenance – which gives you visibility and insights
into all your assets, from single machines to full plants to help
you reduce downtime, increase knowledge sharing and accelerate
digital transformation across your organization.In this episode you
will learn about:The Hidden Cost of Poor Spare Parts Management:
Discover how inadequately managed spare parts lead to significant
capital tie-up, increased downtime, and often overlooked financial
burdens in industrial settings.Why Spare Parts Are an Underserved
Area: Understand the historical reasons behind the neglect of spare
parts, from complex naming conventions and lack of transparency to
accounting treatments that obscure their true impact.The
Transformative Power of AI and LLMs: Learn how emerging
technologies like Large Language Models (LLMs) can revolutionize
spare parts management by accelerating RCM studies, standardizing
inventory data, and enabling more strategic stocking
decisions.Integrating Spare Parts into Your Digital Strategy:
Explore how effective spare parts management is a crucial, yet
often underestimated, component of a comprehensive digital
transformation and predictive maintenance strategy.Gaining
Executive Buy-in for Optimization: Get insights into how to justify
investment in spare parts management by demonstrating clear return
on investment through reduced working capital, minimized downtime,
and enhanced operational efficiency.You can find out more about how
Senseye Predictive Maintenance can reduce unplanned downtime and
contribute towards improved sustainability within your
manufacturing plants, by visiting:
www.siemens.com/senseye-predictive-maintenance