Which maintenance philosophy is associated with lower spare parts costs?

The maintenance philosophy that is associated with lower spare parts costs is predictive maintenance. This approach focuses on using data and monitoring tools to assess the condition of equipment in real-time. By continuously monitoring equipment's performance, predictive maintenance allows organizations to identify potential failures before they occur, enabling them to plan maintenance activities at a time that is convenient and less disruptive.

As a result, parts can be replaced as needed before an actual breakdown happens, which minimizes the likelihood of emergency repairs that would require immediate replacement of spare parts. This proactive strategy contrasts with other maintenance philosophies, which may lead to higher spare parts costs due to unplanned downtime or unnecessary replacements.

Predictive maintenance also helps optimize inventory levels because the need for spare parts can be anticipated rather than reacted to, allowing for better financial planning and less capital tied up in inventory. This leads to overall cost savings in maintenance operations and better management of resources.