Subject Area: Spare parts inventory optimization trap 3 Traps to Avoid: Lesson 3 Don’t judge a solution by its position on Google! At the top of search engine results there are ads – top placement for companies that have paid for that position. Then there is a list of companies

Subject Area: Spare parts inventory optimization trap Traps to Avoid: Lesson 2 Spare parts inventories are typically made up of tens of thousands of items, but do they all need to be optimized? It is easy to fall into the trap of thinking that because the ‘software does the work’

Subject Area: Optimization Problems Don’t believe the hype that all optimization software will solve all optimization problems. It is easy to think that all optimization software solutions are the same – they are not. Techniques vary. Some companies keep their techniques secret. They don’t want to share the specifics of

Subject Area: Optimization Software Problem Definition Template This is our optimization software problem definition template. A problem definition should look something like this four point template: Our spare parts inventory routinely fails to deliver on our goals of minimal stock with target availability because… (insert issues of concern) This is

Subject Area: Optimization Software Selection Goals Before taking your software selection process any further you must be clear about your optimization software selection goals. Failure to frame the goals and issues from the stakeholder perspective and from that develop the problem definition will derail any attempt to gain support for

Subject Area: Optimization Software Selection Team The best software in the world is of no use, if the results are over-ridden. Therefore, before getting too far into a selection process you need to identify an optimization software selection team that includes a representative of each of the stakeholder groups: maintenance,

Subject Area: Understand the Underlying Software Technology What do we mean by underlying software technology? This term refers to understanding the software system’s process and its applicability to spare parts inventory. The key question is: Is the software suitable for this type of inventory? This is different understanding the theoretical

Subject Area: Choosing the Right Optimization Software What do we mean by saying ‘the right optimization software’? This is the software that will be used and that will produce the best results for your situation. It is true that all optimization software will produce a number, but is your goal

Subject Area: Optimization Software Must Be Trusted What if you spend a lot of time and money selecting optimization software only to find that the results are not trusted by the end users? This could be a disaster for your company. How will the end users react? Typically, they will