Prospecta

Spares and Assets

What are taxonomies in spares and asset management and why it is imperative for companies to institutionalize its framework.

What on Earth Are Taxonomies in Management of Spares and Assets: Do We Need It? What If We Don’t Have Them?

Ok, before we go into Taxonomies, let’s define Spares, shall we? Spares are divided into direct and indirect spares. Direct spares are parts that go into the finished product and are stocked to support its lifecycle. In a car manufacturing … Read More