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Multi-Echelon Inventory Management Definition

June 26 spkhadmin

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.     A multi-echelon inventory management system occurs when multiple storerooms are part of a spare parts inventory management and supply system. For example,

Filed Under: Glossary

Satellite Stores Definition

June 26 spkhadmin

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.     A Satellite Storeroom is a small storage area that is separate from the main or central storeroom. What differentiates satellite stores from

Filed Under: Glossary

Squirrel Stores Definition

June 26 spkhadmin

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.     Squirrel stores are the unofficial hoarding of items outside of the official storeroom management system. Squirrel stores are usually established out of

Filed Under: Glossary

Sparesology Definition

October 3 spkhadmin

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.     Sparesology ® is a term coined as a shortcut for the discipline of optimizing the physical, financial, process, and human resource management

Filed Under: Glossary

Spare Parts Inventory Management Acronyms and Abbreviations

October 3 spkhadmin

spare parts inventory management acronyms and abbreviations

Acronym Explainer What happens when one person uses spare parts inventory management acronyms and abbreviations and another person either doesn’t know what is meant, or worse they think that it means something different? Expensive mistakes and wasted time. Not to mention the potential embarrassment! To help you navigate this confusing

Filed Under: Glossary

Insurance Spares Definition (Video)

May 18 spkhadmin

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.     In this 2 Minute Tutorial Phillip Slater defines and discusses insurance spares, their main attributes and how they are different from other

Filed Under: Glossary, Inventory Management, Policies and Procedures

Stock Keeping Unit (SKU) Definition and Explanation

September 24 spkhadmin

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 definitions used in spare parts inventory management is vitally important. For without a common understanding of terms it is difficult

Filed Under: Glossary

Insurance Spare Definition and Explanation

August 8 spkhadmin

It is important to specifically categorize insurance spares in your inventory. If you don’t categorize insurance spares you may find that you stock a lot of value in this type of spare part but cannot segment those spare parts and therefore subject them to appropriate scrutiny. With appropriate scrutiny you

Filed Under: Glossary

Inventory Accuracy: Extract from Webcast

July 29 spkhadmin

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

Filed Under: Glossary

Inventory Accuracy Definition

July 25 spkhadmin

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

Filed Under: Glossary

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40 Key Lessons for Spare Parts Inventory Management and Optimization

This complimentary management guide identifies 40 key lessons for spare parts inventory management and optimization.
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