Oil & Gas Facilities

A large energy company may manage over 200,000 different spare part items across multiple inventory locations, typically using min-max systems based on expert judgment. A single day of unplanned downtime on a platform or refinery unit costs hundreds of thousands of dollars in lost production.

From Experience-Based to Data-Driven

Most oil and gas spare parts planning relies on planner experience and vendor recommendations. SpareMind applies a statistical model that accounts for failure rates, lead times, fleet size, redundancy, and cost – producing quantities that can be reviewed, adjusted, and justified to management. No more "we've always stocked two of those."

What You Can Calculate

• Rotating equipment spares (pumps, compressors, turbines)
• Instrumentation and control system components
• Electrical distribution and protection equipment
• Safety-critical components with long procurement lead times