Many of my clients get quite frustrated with their inventory management software – especially the type of software that they use to calculate ‘optimal’ holding levels. What they tell me is that they typically and frequently get from their software crazy numbers that just don’t make sense. In fact, it
Phillip Slater Wins National Logistics Leadership Award
Leadership in Logistics Education Award In 2012 the Logistics Association of Australia announced Phillip Slater as that year’s winner of the Kim Rothwell Leadership in Logistics Education Award. Phillip Slater is a spare parts management specialist, consultant, author, and Founder of SparePartsKnowHow.com. Kim Rothwell, is a life member of the
Are You Trading Spare Parts Money for Time?
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] As someone who is involved in materials and spare parts management I am sure that you have come across the situation where there is an apparent need to justify expenditure on a specific spare part. Typically the logic goes like this: — The content below this line is only visible
Inventory Optimization – What’s In It For Me?
If you have ever read a book on selling or marketing, you will know that one of the key tenants of those disciplines is to describe the major benefits for the buyer. From the buyer’s perspective this is literally translated into ‘what’s in it for me?’. Similarly, ask any consultant
The James Bond Approach to Inventory Optimization
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] OK, I admit it, I am a James Bond fan. You know James Bond, British Secret Service, 007, license to kill, and all that. How much of a fan am I? Well I have all 25 movies on DVD! Recently it occurred to me that what we need to do
Are the Benefits From Inventory Savings Real?
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] Last month I wrote about the cost of delaying action when improvement opportunities are identified. My point was that many people only consider the accrual of benefits AFTER they have taken action and not the opportunity cost of not taking or delaying action (e.g. if I can be $100 better
Why You MUST Also Review Critical Spare Parts
Maintenance and reliability engineers will happily (well, not happily) undertake a review of spare parts that are not classified as critical, yet they will shy away from reviewing items that are classified as critical spare parts. Why? Why should you choose to avoid reviewing spare parts that are classified as
The Real Cost of Delayed Action
[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] What would you do if you had the chance to save $2M per year with no capital expense and a payback period measured in weeks? Nothing? Have you ever noticed how much time we all spend considering the costs of taking action and how little time we spend considering the
5 Myths of Inventory Reduction
Spare parts inventory reduction has been a major focus of supply chain improvement initiatives for many years and success requires the application of both inventory fundamentals and good practice process. However, it is the encouragement of appropriate spare parts management behaviors that delivers truly sustainable results. And it is in