MRO Spares Management Flashcards
6 cards from real CMRP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 MRO Spares Management flashcards as text
What does MRO stand for in spare parts management?
Answer: Maintenance, Repair, and Operations
MRO stands for Maintenance, Repair, and Operations, referring to consumable materials and supplies needed for operations.
What is the purpose of ABC classification in spare parts inventory?
Answer: To categorize parts by value and usage to apply different control strategies
ABC classification uses the Pareto principle to categorize items by annual usage value.
What is the Economic Order Quantity (EOQ) formula used to determine?
Answer: The optimal order quantity minimizing total ordering and carrying costs
EOQ calculates the order quantity that balances ordering costs against holding costs.
What is the purpose of a critical spares analysis?
Answer: To determine which spares must be stocked to avoid unacceptable risks from equipment failure
Critical spares analysis identifies parts that must be available to prevent unacceptable consequences from equipment failure.
What is the reorder point in inventory management?
Answer: The inventory level at which a new order should be placed
The reorder point triggers a purchase order, set to cover expected demand during lead time plus safety stock.
What is vendor-managed inventory (VMI) in MRO?
Answer: An arrangement where the supplier monitors and replenishes inventory at your facility
VMI shifts responsibility for monitoring and replenishing MRO inventory to the supplier.