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. Many people view the spare parts storeroom as being a purely transactional environment. That the function of the storeroom is to administer
The Stock Out Metric
The stock out metric is one of the most popular ways to monitor spare parts inventory. A ‘stock out’ occurs when there is demand for an inventory item but there is no stock available. The Stock Out metric is a curious measure and as with all metrics one needs to
Managing Slow Moving Inventory
Is Slow Moving Inventory Really An Easy Target for Inventory Reduction? Inventory that is slow moving is often seen as an easy target for people undertaking an inventory review. Rather than undertake a structured review process (such as the Inventory Cash Release Process) many people will target slow moving
Inventory Management Formula – Knowing is the Easy Part!
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 Fact, Just Knowing Inventory Management Formulas is Not Enough Does it really matter if you do or do not understand
Spare Parts Inventory Management – It’s All About Process!
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Inventory Myth #5: Putting Items Into Spare Parts Inventory Saves Money
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. Adding an item to spare parts inventory is sometimes seen as way of spreading the cost of the item so that the
Inventory Myth #4: Inventory Software Will Solve the Problem
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. Almost everybody realizes that inventory software alone does not provide a solution to problems. Yet many companies, when faced with an inventory
Inventory Myth #3: Consignment Stock Must Cost More
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. This myth probably adds more to the investment in inventory than any other. The opportunities for consignment stock are many and are
Inventory Myth #2 – Inventory Risk Must be Re-evaluated to Reduce Inventory
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. Reducing holding quantities in inventory is often seen as requiring a corresponding increase with inventory risk. This might be the risk of extended
Inventory Myth #1 – An Economic Order Quantity Saves Money
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 inventory management items often get ordered in an ‘economic’ order quantity so that the cost per item is at a minimum.