Unitec Faculty of Technology Spare Parts Inventory Management Report

This report provides a detailed analysis of spare parts inventory management practices within an organization. It begins with a review of the current practices, highlighting issues such as inadequate space storage and inventory systems, lack of maintenance, poorly managed inventory, unstructured bills of materials (BOM), insufficient security measures, a deficient inventory control system, and a complicated work order process. Observations further elaborate on these issues, emphasizing the impact on efficiency and cost. The report then analyzes these practices, identifying key areas for improvement. Finally, it recommends specific changes, including implementing a comprehensive database, establishing a vehicle replacement cycle, developing clear policies, employee training, and effective future planning to optimize the inventory management system.