Spare parts inventory management has to deal with the internal control issues of all inventory management systems plus some additional ones. The cost of service interruptions due to missing spare parts needs to be considered when assessing inventory levels. The same applies to the cost of expedited orders.
Refer to the section on lithium-based batteries if lithium-based batteries are part of the spare parts inventory.
- Operational interruptions due to missing spare parts and long lead times.
- Unnecessarily high working capital and high write-offs for obsolete parts.
- Loss or misuse of company assets.
- Fires caused by lithium-based batteries stored without necessary precautions or by unsupervised battery charging or discharging activities.
- Assess internal controls in place for the ordering, receiving and issuance of spare parts and batteries.
- Review the segregation of duties concept applied to the spare parts inventory management.
- Visit the spare parts storage and perform a sample inventory stocktake for key items.
- Review inventory lists for slow-moving items or parts for discontinued drones.
- Interview drone pilots about disruptions due to the unavailability of spare parts.