With all spare parts, at some point, you will have to make a decision about your last time buy. This need comes about in several different ways but the decision is still the same: What will be the final quantity of that part that you are going to purchase? Phillip
The Problem with Spare Parts Inventory Optimization
Do you know what the problem is with spare parts inventory optimization? Yes, spare parts inventory optimization is terrific. It helps companies adjust their stock holding levels, reduce their working capital and reduce their procurement costs. However, there is a problem – as Phillip Slater explains in this short video.
Inventory Optimization is Multi-Factorial
The issue with inventory optimization is that it is multifactorial. That means it relies on a whole range of different factors in order to be truly effective. If you focus solely on one single criterion, one of those factors, then you are likely to be missing out on big opportunities
Identifying Best Practices for Spare Parts Inventory Management
For access to this post, and all of our content, join using the button below. If you are already registered then you need to log-in. One problem with ‘identifying best practices’ is that while it may be possible to define targets for almost everything that you do,
The High Cost of Free Parts (Video)
Does your company buy spare parts as part of new capital equipment purchases? Are these then treated as ‘free spare parts’ when used by your team?. There are some very real consequences from how we treat those so-called ‘free’ parts. It’s just that sometimes they’re not so obvious to us.
Getting Approval for Spare Parts Management Training – An Email for Your Boss
Do you need your boss to agree for you to get spare parts management training approval? Are you looking for a way to win their support? To help we have provided here a template of an email for your boss. Just cut and paste this note below
Mastering Spare Parts Management Meetings – Part 2
Mastering Spare Parts Management Meetings is a two-part video series developed from a presentation and interview with Joel Levitt. Introduction It is a fact of life that spare parts management meetings are required for both planning and decision-making. Why are spare parts management meetings so important? Without meetings and the
Mastering Spare Parts Management Meetings – Part 1
Mastering Spare Parts Management Meetings is a two-part video series developed from a presentation and interview with Joel Levitt. Introduction It is a fact of life that spare parts management meetings are required for both planning and decision-making. Why are meetings so important? Without meetings and the communication and agreement
Forecasting Spare Parts Requirements
Is the forecasting of spare parts requirements hard, especially intermittent parts? Is your demand for parts based on random failure? These issues lead to forecasts that don’t achieve their goal. Having the past you need, when you need them. In this short video Phillip Slater explains what works – and