The following video is an extract from a recent webcast on inventory accuracy and Why it Matters. Here Phillip Slater discusses two different definitions of inventory accuracy. Understanding that, from an inventory management perspective, we need to be concerned with accuracy at an individual item level tells us that to
Inventory Accuracy Definition
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. The idea of providing an inventory accuracy definition may seem a bit redundant – after all the word accuracy is understood and who
Inventory Reduction: Why 30% is Easier to Achieve than 3%
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] Here is something to think about: it is easier for companies to achieve a 30% inventory reduction than a 3% reduction. I know that this statement is counter-intuitive so you may be saying to yourself: How can that be, surely achieving a lower target is easier than achieving a higher
Achieving Accurate Inventory Records
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] If you are on LinkedIn you may know that I am an active contributor to various forum discussions. A few days ago I made the comment on one such discussion on how to control inventory. My comment was: ‘Controlling inventory is simple – after all it (usually) doesn’t get up
Spare Parts Management eBook
Subject Area: Spare Parts Management eBook The Problem with Spare Parts Management at Large Companies Managing spare parts at a large company presents a unique set of challenges and problems. It is only by ensuring continuous and wide-spread access to information and training that is credible, reliable, and
Stock Turn Definition
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. Stock turn is one of, if not the, most important metrics that you can use to measure the effectiveness of your spare
A New, Simple ReOrder Point Calculator
One question that people ask me regularly is: how do we access a simple reorder point calculator for the ROP for spare parts when our data is inadequate or unreliable? Well, now we have a way to do just that! For access to this post, and all of our content,
The Spare Parts Repair or Replace Decision
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] Recently I needed to make a spare parts repair or replace decision because I experienced something that might be familiar to some readers – an equipment breakdown! Last week I was mowing the lawn at the back of my house when my 15 year old lawn mower just gave up.
Definition of Just In Time (JIT)
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. Just In Time (JIT) is perhaps the most often quoted, and yet misunderstood, term in management. JIT, developed as one pillar in
5 Common Techniques for Spare Parts Management That You Should NOT Use
In this recording of a public webinar Phillip Slater identifies 5 common techniques for spare parts management that you should not use. Phillip explains what they are and why they should not be used. For access to this post, and all of our content, join using the button below. If