A spare part or replacement part, is an interchangeable part that is kept in an inventory and used for the repair or replacement of failed units. Spare parts are an important feature of logistics managementand supply chain management, often comprising dedicated spare parts management systems.
Capital spares are spare parts although acknowledged to have a long life or a small chance of failurewould cause shutdown of equipment for a prolonged period because of the long delivery of their replacement.
Spare parts are an outgrowth of the industrial development of interchangeable parts and mass production.
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