Spare Aviation Parts: Should You Stock Your Own Items or Outsource Services?

When it comes to maintenance, repair, and overhaul (MRO) operations for aircraft and their related systems, it is critical for one to have a steady supply of spare aviation parts to reduce the chance of operational downtime and setbacks when an issue arises. Regarding maintaining access to necessary items, one will generally have the choice of either stocking spare items in-house or outsourcing services to an aviation parts supplier. Both of these present their own set of advantages and disadvantages, with factors like cost, space availability, and operational efficiency needs being big factors to consider.

What Are Spare Aviation Parts and Their Importance?

As their name suggests, spare aviation parts are those used to replace damaged or worn items on aircraft, such products meeting the same specifications of the original installation and having regulatory approval.

Minimizing Downtime

Aircraft of all types will require routine and unscheduled maintenance alike, the latter proving detrimental to one’s operational efficiency if they are not well prepared. If one has spare jet parts, fasteners, hardware, avionic items, or other such aviation parts ready to go when a damaged item is identified or a plane is grounded, they can ensure immediate access to replacements for quick repairs.

Cost Efficiency

While purchasing spare parts will require an initial investment to be made, it can lead to cost savings over time as emergency procurement costs, expedited shipping fees, and unexpected price fluctuations are all avoided.

Is Stocking Your Own Spare Aviation Parts Right for You?

The Benefits of an In-House Inventory

• Quickest Turnaround Times: If spare aircraft parts are in your warehouse, you can guarantee immediate deployment for MRO activities.
• Optimal Control Over Supply: Similarly, having items at your location means you have full governance over them for optimal supply management.
• Predictability: Stocking critical items ahead of time can prevent disruptions that could impact operations.

The Challenges of an In-House Inventory

• Higher Initial Investment: Maintaining a comprehensive selection of aircraft parts that can meet most service needs can be costly to start, often requiring significant financial resources depending on the scope of purchases.
• Storage and Management: Keeping spare aviation parts on site demands warehouse space for storage, as well as a system with the manpower to uphold proper part organization, tracking, and compliance with regulatory requirements.
• Risk of Obsolescence: Technology often evolves rapidly, leading to the risk of holding on to outdated inventory that no longer meets one’s goals.

The Option of Outsourcing Your Spare Aviation Parts Supply

Outsourcing your supply of spare inventory simply means that you will partner with an aviation parts supplier or service provider who can either provide items on an as-needed basis, offer inventory management agreements, or house items for you.

The Benefits of Outsourcing

• Upfront Cost Savings: You can eliminate the need for large initial investments and keep a higher cash flow with the help of an aviation parts supplier who will serve as the source for your spare needs.
• Flexible Sourcing: Businesses can source jet parts, hardware, and other spares on demand while reducing storage costs and management.
• Simplified Logistics: an aviation parts supplier or service provider will typically handle all aspects of sourcing and fulfillment for you.

The Challenges of an In-House Inventory

• Availability Concerns: Without stock on site, one will be subject to potential lead times and shipping when they procure spares.

Understanding Vendor Managed Inventory (VMI) Agreements

One effective solution for those seeking to minimize in-house stock is to enter what is known as an Vendor Managed Inventory (VMI) agreement with an aviation parts supplier. Put simply, the supplier will manage the customer’s inventory with continual replenishment of inventory based on a set contract. As such, the operator or entity can continually receive items and pay for them only when needed, providing a “middle ground” of sorts between both options.

Secure Reliable Aviation Parts with Fastener World 360

When it comes to making a decision, one should consider their budget, operational scale, and maintenance requirements to find the best solution. Once you determine if stocking up on spares or leveraging the benefits of outsourcing is best, choose Fastener World 360 for all that you require. As a trusted aviation parts purchasing platform owned and operated by ASAP Semiconductor, Fastener World 360 ensures seamless access to top-quality aircraft parts and fasteners that are necessary for upholding airworthiness and operational efficiency. Explore our inventory and supply options today, knowing that we are just an email or call away from supporting your operations with the utmost care.