The Influence of Lead Time One of the most important aspects of spare parts inventory management, in fact any inventory management, is the lead time. Lead time has a major influence on how much stock you hold. Lead time is one of two key factors in determining your cycle stock
Why Spare Parts Inventory Optimization Can Start Today
If the benefits os spare parts inventory optimization are both significant and achievable, what is stopping you from working on it today, right now, even as you get on with your daily tasks?
Insurance Spares Definition (Video)
In this 2 Minute Tutorial Phillip Slater defines and discusses insurance spares, their main attributes and how they are different from other types of spare parts. Understanding these issues helps you in determining why you hold the spare parts that you hold. For information
Bill of Materials (BOM): Necessary or Just Nice to Have?
Do we really need bills of material (BOMs) for spare parts management? Back in my university days I serviced my own car – a Datsun 180B. Servicing my own car was a function of both economic necessity (I was studying full time and working part time) and technical interest
How to Get The Most From Attending a Conference
Subject Area: Tips for Conference Attendance Let’s face it conference attendance can be expensive so you need to know how to get the most from attending a conference. Fees for multi-day conferences can sometimes be $3,000 or more. Plus you may need to fly in, pay for transfers and probably
Three Reasons Why You Have Obsolete Spare Parts Inventory
In this 2 Minute Tutorial Phillip Slater identifies the three reasons that companies have obsolete spare parts inventory. By understanding these issues you can take the first steps to limiting and even eliminating obsolete spare parts inventory! Run time: 2:38 For information on our Pro
The Two Aspects of Spare Parts Data That Really Matter
All Spare Parts Data is Not Equal What really matters with spare parts data management? Recently I heard some consultants talking about spare parts data management and some of the problems that they have seen with their clients. As part of this discussion they were quoting statistics relating to spare
Spare Parts Inventory Optimization Vs. Spare Parts Inventory Prevention
Subject Area: Spare Parts Inventory Prevention Spare parts inventory optimization takes up a lot of time and energy at many companies. But the problem with spare parts inventory optimization is that it happens after you have spent the money! Rather than work on spare parts inventory optimization perhaps a better
Proof that Single Point Spare Parts Inventory Optimization Leaves You Short
There seems to be a common belief in spare parts inventory optimization that a complete solution can be achieved by tackling just one aspect of the spare parts inventory. But this isn’t really the case. It takes a range of actions to achieve spare parts inventory optimization. For example, I hear
Best Practice: The One Action That Makes It Work
Over the past few months I have been working through a series of five best practices for spare parts management. If you missed any of those items you can catch up via the links below. But there is one thing that you must do if you want to take advantage of applying