Subject Area: Appropriate inventory settings
Traps to Avoid: Lesson 4
Be wary of using any form of weighted sorting.
This is where each feature is given a weighting in terms of the contribution to the overall performance and each solution is scored.
An overall score is then determined by multiplying the score by the weighting.
These processes often fail to provide the most appropriate outcome for two reasons.
This spare parts inventory optimization trap is explained in this short video, an edited extract from a live webinar titled: Selecting the Right Spare Parts Inventory Optimization Software for Your Company
Run time: 2:10
If you are already registered then you need to log-in.
For information on our Pro Level spare parts management online training please visit our Pro Level page.
Posted by: Phillip Slater