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
Systems Over Goals: A Smarter Way to Manage Spare Parts Inventory
Spare Parts Management Training: The Power of Curiosity and Commitment
Spare Parts Inventory Management: Small Wins and Compromises
Spare Parts Inventory Management Training: Letting Go of Ego
Best Practice Spare Parts Management
How do you determine exactly what constitutes best practice spare parts inventory management? One problem with ‘best practice’ is that while it may be possible to define a ‘best practice’ for almost everything that you do, implementing these practices may not actually make any difference to your overall results. Another
How to Make Better, More Transparent, Inventory Holding Decisions
The reality is that the classic inventory management theory does not provide realistic answers for determining the Reorder Point (ROP) and Reorder Quantity (ROQ) for spare parts inventory. To effectively manage spare parts inventory, it is important to understand why the classic inventory management theory doesn’t work. This will stop