How to Leverage AI to Help Define Spare Parts Criticality Methodology

Reliability and Operations teams have always struggled with a repeatable process for defining criticality for maintenance spare parts. It is often too easy to make everything critical and often entails a binary method of “yes/no” or “true/false.” Most criticality review processes are static (one and done) and are not revisited nor adjusted with changing business climates. Untrusted, outdated criticality reviews, if any, lead to treating everything as critical which leads to surplus which ultimately becomes obsolete… aka wasted capital.

Jeremiah Woodford, CRO IFS Assets

Jeremiah is a native Texan whose first job out of high school was as a roughneck on the oldest drillship for Diamond offshore. After finishing his computer science degree, he focused his career on asset and maintenance technologies for the asset-intensive industries. For the last 15 years, he has supported clients such as ExxonMobil, DOW Chemical, BP, BHP, PETRONAS, ADNOC, PDO, Total Energies, TC Energy, and many other clients in asset-intensive industries to transform their MRO and drive significant improvements in the spare parts planning processes.

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Original session held on June 26, 2024

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