Data-Driven Spares Analysis and Cost Minimization with Excel Power Query: A Study of Spare Parts Inventory Management at Indo National Limited (Nippo)

Effective spare parts inventory management is critical for maintaining working capital and
ensuring a smooth manufacturing process. This study examines the spare parts portfolio of
Indo National Limited (Nippo), India's second-largest dry cell battery producer. The main
data transformation tool is Microsoft Excel's Power Query. The dataset contains 6,699 stockkeeping units (SKUs) that span six years of purchase receipts, consumption records, and
inventory ageing profiles. It underwent a multidimensional examination that comprised ABC
classification, inventory ageing evaluation, stock turnover categorisation, procurement
behaviour review, and vendor lead time comparison. The investigation revealed that 49.7% of
the total on-hand stock value, ₹1.79 crores, had been held for more than 365 days. In
addition, 109 things were purchased despite excess inventory, and 500 non-moving products
are taking up ₹59.69 lakhs in idle capital. The lead time performance of 172 active suppliers
reveals a 110-day disparity between the best and poorest performers, making it difficult to
estimate safety stock levels. The paper proposes a three-horizon action plan for lowering
inventory carrying costs, improving procurement control, and increasing supply chain
responsiveness. The findings reinforce Power Query's position as an easy-to-use and
repeatable analytics solution that is audit-ready, making it ideal for mid-market Indian
manufacturers.