Subject Area: Management of Spare Parts Inventory Do you manage spare parts inventory? Are you aware that spare parts inventory has specific characteristics that differentiate it from other inventory types? This article explains 8 ways in which the management of spare parts inventory is different to managing other types of
This is Why Some Spare Parts Inventory Managers Make a Difference and Some Don’t
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] Over the years I have discovered something interesting. There are many spare parts inventory managers that do something a little different at this time of the year. No, I don’t mean that they plan how they can move budget allocation from one fiscal year to another (although
Two Types of Inventory Accuracy
Inventory accuracy is an important measure when assessing the effectiveness of spare parts management. But did you realize that there are two different types of inventory accuracy? Understanding this and which type of accuracy you are measuring is vital if you are to truly understand your performance and how to
Managing Repairable Spares
Do you need to manage notable and repairable spares? Is balancing the reality of high downtime costs with the repair and replace costs resulting in sub-optimal outcomes? This article discusses the different types of rotable and repairable spares and identifies the three documents needed to make better repair/replace decisions. For
Max-Min OR ROP-ROQ: Does it Really Matter?
This article covers: The definitions of Min, Max, ROP, and ROQ Why the differences are meaningful and important The pros and cons of using each Why you need to get this right Links to further reading For access to this post, and all of our content, join using the button
Getting Your (Inventory) Cash Off the Shelf!
The problem is that people see spare parts inventory only as engineering components and so think that their inventory decisions are engineering decisions Imagine walking into a storeroom or warehouse and finding the shelves stacked high with cash. Ten thousand dollars on one shelf, two thousand on another. A storage
New and Updated Spare Parts Management Articles
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] Special Announcement This month we have added or updated 33 articles and white papers. All titles are available as a PDF download. Here is the list of titles. 1. The Big Lie of Spare Parts Obsolescence 2. Managing Repairable Items 3. Storeroom Management 4. Spare Parts Inventory Optimization 5. Categorizing
Peace of Mind and 7 Other Benefits of Gaining a Spare Parts Management Certificate
In my line of work I meet and engage with a lot of different people. Some in person. Some via email. Some via LinkedIn. These people come from all parts of the spare parts management spectrum. Some are just starting out their careers. Some are ‘old timers’ who have been
SparePartsKnowHow.com Recognized with 2017 Business Innovator Award
SparePartsKnowHow.com, the leading online training resource for people engaged in spare parts inventory management, has been recognized with a 2017 Business Innovator Award from the UK-based Corporate Vision Magazine. Corporate Vision says of the awards: The 2017 Business Innovator Awards have been designed to celebrate the trailblazers of the corporate
Organizational Misalignment: Don’t Underestimate the Impact on Spare Parts Management
Every company seeks better results from their spare parts inventory investment. After all this inventory is the life-blood of their maintenance and reliability functions. The problem is that the definition of what any one person thinks constitutes ‘better results’ can vary depending upon their functional focus. This is the essence