When companies create their spare parts inventory they use downtime reduction as a justification but when they review their inventory they don’t. They only include the cost of the inventory. In this Two-Minute Tutorial Philip Slater challenges this logic.
Two Reasons That Improved Maintenance Won’t Solve Your MRO Spare Parts Problems
(And What You Can Do About It) The Best Way to Reduce MRO Spare Parts Holdings? Is it true that MRO spare parts held as inventory for maintenance use are primarily captive to the sophistication and execution of the maintenance system that they support? Is maintenance and reliability execution
3 Ways That The Wrong Spare Parts Management Plan Can Really Cost You
Ready, Fire, Aim is Not a Spare Parts Management Plan There is a school of thought in business and operations management that action is all that really matters. Some express this as ‘ready, fire, aim’. Essentially this view says that it doesn’t matter about the plan, just start taking action
The #1 Problem with Spare Parts Inventory Management
Engineering spare parts inventory management is a big topic and managing a spare parts inventory involves engaging with lots of participants from different parts of the business. This means that there is plenty of opportunity for things to go wrong. And that may be one of the complications that makes
3 Questions to Ask About Spare Parts Standardization
Whether or not to standardize equipment and spare parts is one of the enduring debates of engineering, maintenance and spare parts management. On the one hand, standardization is said to lead to improved operating and manpower efficiency, as well as reduced inventories; on the other hand, not standardizing is said
Why (Most) Inventory Goal Setting Fails
Subject Area: Inventory Goal Setting The Problem with Inventory Goal Setting As I write this it is early January and my inbox is awash with advice on goal setting. There are articles, podcasts and webinars all aiming to tell me how to set attainable goals for the year. Unfortunately,
The Spare Parts Data That You MUST Check
There Are Many Types of Spare Parts Data In the world of spare parts inventory management there is plenty written and said about spare parts data. The spare parts data that is your parts usage history. The spare parts data that is your parts description. The spare parts data
Forecasting Spare Parts Requirements
Essentially all inventory stocking decisions can be resolved as a forecasting problem. This is because the essence of inventory management is determining the most appropriate level of inventory to hold, to service the expected future demand for that inventory, based on the expected supply constraints.
Spare Parts Management Best Practice Starts Outside the Storeroom
Best Practice Requires Preparation You don’t need to be a sports fan to have heard of Muhammad Ali. His story of winning the world heavy weight championship three times is legendary. The photo of Ali standing over a defeated Sonny Liston is one of the most famous sporting images of
Stock Turn Illusion and How to Avoid It
What if the metric that you rely on doesn’t actually tell you what you think it does? In this 2-Minute Tutorial Phillip Slater discusses the Stock Turn Illusion and how some companies misinterpret this important spare parts inventory management measure. Phillip Slater is a Spare Parts Management Specialist with 35