Full definition
Administration of spare parts inventory balancing availability of critical parts with immobilized storage costs. ABC-XYZ methodology: A = high value/critical, B = medium, C = low; X = regular consumption, Y = variable, Z = sporadic. KPIs: service rate >98% for A parts, inventory turnover, obsolescence cost. Safety stock = Z × σD × √LT (Z = service level, σD = demand std dev, LT = lead time). Integrated in ERP/CMMS. Periodic obsolescence review and framework supply contracts.