A Shift in How Spare Parts Knowledge Is Delivered
Subject Area: Spare Parts Knowledge Spare parts management is a decision-heavy environment. What should we stock? How many should we hold? Which parts are truly critical? How do we reduce excess without increasing risk? How do we build systems, processes, and capability that produce better decisions every day? These are
Doing the Hard Things Makes Spare Parts Management Easier
Most organizations try to make spare parts management easier. They simplify approvals. They speed up purchasing. They rely on experience. They trust “what’s worked before.” And in doing so, they make everything harder. Because the things that actually make spare parts management easier are the things most teams avoid. They’re
Why Every Plant Thinks Its Spare Parts Challenges Are Unique (and Why They Aren’t)
Subject Are: Spare Parts Challenges
Avoiding Survivorship Bias in Spare Part Procurement: From Efficiency to Resilience
In procurement, the goal is clear: secure the right parts, at the right time, for the right price, while minimizing inventory costs and avoiding supply disruptions. But amid this balancing act, a hidden cognitive bias often distorts decision-making: survivorship bias. This error, focusing only on parts that are frequently used
Survivorship Bias in Spare Part Inventory Management: A False Sense of Security
In the complex world of spare part inventory management, we all know that decision-makers are constantly striving to optimize stock levels, reduce costs, and ensure operational reliability. However, what many don’t realize is that a subtle and dangerous cognitive bias often creeps into these decisions: survivorship bias. This is a