In October 2012 Phillip Slater was interviewed by Dustin Mattison for the Kinaxis Supply Chain Expert website. In this interview Phillip discusses why spare parts are different to other inventory types and what this means for those that manage spare parts inventory. For access to this post, and all of
Reorder Point Definition – What You Need to Know
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. Understanding the Reorder Point Definition is Vital Understanding the reorder point definition is a vital element of understanding and being able to
Economic Order Quantity 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. EOQ is often misunderstood to be the purchase quantity that provides the lowest purchase cost per unit. For example, when buying in
ABC Analysis 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. An ABC analysis is an analytical approach to inventory management. The analysis aims to divide the inventory items into categories and
Ask Phill: Working with Maintenance to Identify Spare Parts Requirements
Without knowing the maturity of your decision making framework and policy settings I can’t give a specific response so here is the generic version. Working together, you and the maintenance team need to understand the maintenance requirements for the equipment and the spare parts implications of this. For example, what
Safety Stock 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. Understanding safety stock is one of the most important attributes of high performing spare parts inventory management. Companies that do not understand
Obsolete Inventory: Your Risk is Greater Than You Think
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. I am sure that you know that risk management is a key aspect of any mature spare parts management process and this
Excess Inventory: The Real Cost of NOT Reviewing Your Inventory
Excess inventory: What is the real cost of not reviewing your inventory management processes? That’s right I said the cost of NOT reviewing your inventory. Usually when people (me included) raise the topic of the cost of inventory we talk about the financing and management costs of holding inventory. However,
Why Spare Parts Management Goals Are Not Achieved
Subject Area: Spare Parts Management Goals Not achieving your spare parts management goals must be just about the most frustrating experience you can have in your job. You work hard to deliver a project but the promised benefits are just not realized. In fact, recently, the highly regarded consulting group
Who Should Run Your Spare Parts Storeroom?
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] One question that I get asked a lot is: who should run the spare parts storeroom? The question is often asked out of frustration due to a perceived lack of service or frustration borne from overstocking. I suspect that the answer most people seek is that they should run the storeroom