In an age of servitization and advanced services, spare parts management has become something of a difficult beast to fully grasp for many companies who are offer aftermarket services.

For example, in a world of guaranteed up-times, the cost of failure to keep an asset running can often far outweigh the lost revenue from the sale of the replacement part needed to get the asset back up and running and fully functional again.

Yet, the path to servitization is not an easy one to tread – so is it worth cannibalizing what for many service companies is a reliable, consistent, and strong revenue stream in its pursuit? 

Whichever route companies ultimately turn to, one thing is certain, spare parts management is going to be a crucial aspect of the service delivery sector and as with mobile workforce management, there are a number of technologies and innovations that are emerging that could change the way we approach parts management in the future.

Therefore it was with great interest that we took a look at the insights from a recent research project undertaken by Copperberg. The research was conducted online across the last month primarily to Copperberg’s own audience of conference delegates.

In total the there were 65 responses to the survey and these representatives were all professionals within the sector ranging in seniority from parts managers through to Managing Directors – although the main body of respondents were at the division head/director level on a national scale. 

The majority of respondents were from Europe although other regions, including China, were represented. The respondents were largely from manufacturing verticals, which would be anticipated given Copperberg’s flagship event the Aftermarket Business Platform is also a manufacturing-dominated event. However, there were a number of verticals within the manufacturing sector represented including heavy machinery, medical and automotive.

Read the report to find out more.