# Practical Use Cases

Inventory Management: By monitoring the number of parts consumed, inventory managers can ensure that stock levels are maintained appropriately, avoiding both shortages and excess inventory.
Budgeting and Cost Analysis: The total consumption cost helps in budgeting for future parts purchases and analyzing the cost-effectiveness of the parts used.
Identifying Cost Drivers: The sharp increase in parts costs highlighted by the graph can prompt further investigation to identify the drivers behind the cost spike, such as specific assets requiring more frequent repairs or the use of more expensive parts.
Maintenance Planning: Understanding parts consumption patterns can assist in planning preventive maintenance schedules to reduce the need for reactive maintenance, which often incurs higher parts costs.
Cost Reduction Opportunities: Analyzing the parts consumption data can reveal opportunities for cost savings, such as negotiating better pricing with suppliers, bulk purchasing, or finding alternative parts that offer the same quality at a lower price.
Trend Monitoring: The graph can be used to monitor trends in parts consumption over time, which can be indicative of the overall health of the assets and the effectiveness of the maintenance strategy.

By utilizing the Parts Consumption Dashboard, organizations can gain valuable insights into their parts usage and costs, enabling them to make informed decisions about inventory management, procurement strategies, and maintenance planning. This dashboard is a key component in achieving cost-effective maintenance operations and ensuring the availability of critical parts when needed.