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Spare parts management is one of the most crucial aspects of materials management, as it directly influences the reliability, efficiency, and performance of production and service operations. Organizations that rely on equipment-intensive processes, such as manufacturing, power generation, transportation, oil and gas, mining, and utilities, cannot afford equipment breakdowns that result in costly downtime. Spare parts act as the backbone of maintenance activities, ensuring that equipment is kept operational with minimal interruptions. However, managing spare parts is not a simple task; it comes with multiple challenges such as demand unpredictability, high inventory carrying costs, obsolescence, and balancing service levels with cost efficiency. Therefore, developing strategies to address these challenges and maintaining an optimal level of spare parts is vital for organizational success in materials management. One of the major challenges in spare parts management is demand uncertainty. Unlike raw materials or finished goods, the demand for spare parts is not directly tied to sales forecasts or production schedules but to equipment failure patterns, preventive maintenance requirements, and unexpected breakdowns. This makes demand highly irregular and difficult to predict. For example, a critical component may be needed unexpectedly due to an unplanned machine failure, while some parts may not be used for months or even years. This uncertainty often forces organizations to hold excessive safety stock, which increases costs, ___ ___ _____ _____ _____ ____ _______ _________ _____ _____.
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