How do you decide whether or not to stock a spare part? Is the time and effort spent on this decision not only unnecessary but perhaps actually wasted? One of the most important, perhaps even THE most important, decision that will be made regarding any individual spare part is
8 Ways that the Management of Spare Parts Inventory is Unlike Other Inventory
Subject Area: Management of Spare Parts Inventory Do you manage spare parts inventory? Are you aware that spare parts inventory has specific characteristics that differentiate it from other inventory types? This article explains 8 ways in which the management of spare parts inventory is different to managing other types of
Two Types of Inventory Accuracy
Inventory accuracy is an important measure when assessing the effectiveness of spare parts management. But did you realize that there are two different types of inventory accuracy? Understanding this and which type of accuracy you are measuring is vital if you are to truly understand your performance and how to
Managing Repairable Spares
Do you need to manage notable and repairable spares? Is balancing the reality of high downtime costs with the repair and replace costs resulting in sub-optimal outcomes? This article discusses the different types of rotable and repairable spares and identifies the three documents needed to make better repair/replace decisions. For
Max-Min OR ROP-ROQ: Does it Really Matter?
This article covers: The definitions of Min, Max, ROP, and ROQ Why the differences are meaningful and important The pros and cons of using each Why you need to get this right Links to further reading For access to this post, and all of our content, join using the button
Getting Your (Inventory) Cash Off the Shelf!
The problem is that people see spare parts inventory only as engineering components and so think that their inventory decisions are engineering decisions Imagine walking into a storeroom or warehouse and finding the shelves stacked high with cash. Ten thousand dollars on one shelf, two thousand on another. A storage
How to Sell Your Obsolete and Excess Spare Parts on eBay
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. One of the major issues faced by almost everyone that manages spare parts is: what to do with obsolete and excess spare
Is It Time to Re-Train Your Spare Parts Manager?
What if I told you that it is probable that one in two spare parts manager reading this post work at companies that don’t apply even the most basic principles for managing their spare parts inventory? Would that be surprising? Well, that’s the conclusion that I draw from reading a
How to Make Spare Parts Forecasting Work
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! For access to this
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.