Spare parts forecasting accuracy is driven by the validity of the premise and the data that is used in the analysis, not the sophistication of the modeling Making predictions is hard, especially if they are about the future! This is a variant
3 Major Mistakes Most Companies Make With Critical Spare Parts Management
Nobody wants to be responsible for not having a critical spare part when it is needed. There are many issues that have the potential to keep spare parts managers awake at night but without doubt, critical spare parts management must be number 1.
The Big Lie of Spare Parts Obsolescence
One of the peculiarities of spare parts inventory management is that, generally, the supply chain is established to operate only one way. What if you had a storeroom full of parts that you didn’t need but also had no way of managing them? No process for identification and
Use Our Network to Solve Your Spare Parts Inventory Problems
You Can’t Solve Today’s (Spare Parts Inventory) Problems with the Same Level of Thinking That Created Them The above quote is a derivation of one of my favourite quotes and one that is typically attributed to Albert Einstein. Over the years, I have seen this quote stated in several different
Spare Parts Inventory Optimization: A Zero-Sum Game?
Why is it that when discussions turn to spare parts inventory optimization, maintenance and procurement are cast as natural enemies?
Lubrication Management and the Storeroom
Lubrication management is one area where the storeroom and maintenance really do need to work closely together if the required results are to be achieved. Many years ago, I was tasked with reviewing a manufacturing facility to help diagnose why they were producing so many ‘seconds’. Of course, their aim
The Catch-22 of Spare Parts Inventory Optimization Logic
This kind of circular logic will be very expensive for this company… What stops companies from achieving all that they could with spare parts inventory optimization? Put another way, why do companies continue to waste money buying spare parts they don’t need when the course to prevent this is
7 Things That Every Senior Manager and CFO Should Know About Spare Parts Management – Part 7
The information and know-how required to effectively manage a company’s spare parts operations does not reside in just one function 7. Transforming Your Spare Parts Operations Requires C-Level Engagement, Not Just Support If you have read the preceding six parts to this series the reason why transformation requires C-level
How Do You Know That Your Spare Parts Warehouse/Storeroom Personnel and Managers Are Qualified?
When people don’t have the right training, they make well-meaning but ultimately incorrect decisions. When you hear that someone has a job that carries significant responsibility for the expenditure of company funds, or that has the potential to significantly impact operational outcomes, it is reasonable to assume that they know
Corrosion Protection of Spare Parts
What happens when iron and oxygen interact? Corrosion. The most familiar form of corrosion is rust. That red-brown stain that is seen on unprotected iron-based metals everywhere. It is a major problem with many spare parts. Maritime industries such as shipping and offshore oil and gas platforms spend a lot