Most organizations try to make spare parts management easier. They simplify approvals. They speed up purchasing. They rely on experience. They trust “what’s worked before.” And in doing so, they make everything harder. Because the things that actually make spare parts management easier are the things most teams avoid. They’re
Why Every Plant Thinks Its Spare Parts Challenges Are Unique (and Why They Aren’t)
Subject Are: Spare Parts Challenges
Survivorship Bias in Spare Part Inventory Management: A False Sense of Security
In the complex world of spare part inventory management, we all know that decision-makers are constantly striving to optimize stock levels, reduce costs, and ensure operational reliability. However, what many don’t realize is that a subtle and dangerous cognitive bias often creeps into these decisions: survivorship bias. This is a
Spare Parts Inventory Management: Small Wins and Compromises
How to Make Better, More Transparent, Inventory Holding Decisions
The reality is that the classic inventory management theory does not provide realistic answers for determining the Reorder Point (ROP) and Reorder Quantity (ROQ) for spare parts inventory. To effectively manage spare parts inventory, it is important to understand why the classic inventory management theory doesn’t work. This will stop
Four Common Techniques to NOT Use With Spare Parts Inventory
An important part of any strategy, including your spare parts inventory management strategy, is to know what not to do. By understanding which inventory management techniques you should not apply to your spare parts management (and why) you might just save your company a bundle of money (and yourself a
The Long Chain of Spare Parts Management Events
Discover the 8 Proven Strategies to Achieve Your Spare Parts Inventory Management Goals
In this on-demand webinar, I’ll share with you the insights, tools, and techniques that I’ve honed over decades of experience in spare parts inventory management. As a young engineer, I faced the same
The Biases That Have the Greatest Effect on Your Spare Parts Inventory
Subject Area: spare parts inventory bias Recently, in a series of unconnected conversations, I was struck by how each speaker focused on some specific aspect of spare parts management that, to them, indicated how well (or poorly) they were doing in this area. For example, viewing a single event (such
The Top 5 Spare Parts Management Mistakes
Subject Area: spare parts management mistakes Spare parts management is a crucial aspect of any organization that relies on machinery or equipment to operate. However, many organizations make mistakes when managing their spare parts inventory, which lead to increased costs, reduced efficiency, and even unnecessary downtime. In this article, I