This month, Tony’s Tip addresses one issue that arises when conducting an asset inventory – replacement and repair parts.
April 2, 2018
TREATMENT OF REPLACEMENT AND REPAIR PARTS IN AN ASSET INVENTORY
When conducting an asset inventory, it can be difficult to reconcile your asset list to the items on your production floor – especially when you want to apply tags to those assets, so that every asset on your list has a corresponding tag number.
Machinery and equipment tend to have a long life in production. Parts that are accessories to a machine, such as motors, vibratory bowls, and conveyors will be replaced through its productive life.
We have found it beneficial to implement a “dash 1” system to accessory parts. Once you have assigned a tag number to an asset, use that number followed by a “-1” to designate those replacement and component parts. Basically, if you assign tag #449 to a press, any replacement or repair parts will be assigned tag #449-1. Since the press would not operate without those “-1” parts, and they would not be moved from that press to another asset, there is no need to track them separately.
Simple is best!