What if the metric that you rely on doesn’t actually tell you what you think it does? In this 2-Minute Tutorial Phillip Slater discusses the Stock Turn Illusion and how some companies misinterpret this important spare parts inventory management measure. Phillip Slater is a Spare Parts Management Specialist with 35
The Spare Parts Management KPI Self-Delusion
Should any spare parts management metric be treated as a spare parts management KPI? Does your company suffer from the spare parts management KPI delusion? There is an old saying that ‘what is measured, matters’ and while there are some companies that don’t actually measure their performance through spare parts
Are 99% of Spare Parts Inventory Statistics Pointless?
We have all been there – engaged someone to do a survey of the organization on some topic or other or perhaps complete some other type of analysis (and I am not just thinking here about spare parts inventory analysis). We then look forward to the meeting where they present
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
How To Measure Qualitative Spare Parts Management Improvements
Subject Area: Qualitative Spare Parts Management Improvements Everybody loves hard data. We measure and report all sorts of things: sales, costs, profit, loss, headcounts, inventory values, production volumes, expenses, vacation time, sick leave, stock turns, purchase volumes, operating effectiveness, debtors, creditors, weeks of stock on hand, asset values, revenue, equity,
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
The Right Spare Parts Metric – Accuracy Vs Precision
Performance measurement with the right metric is the cornerstone of all improvements efforts. If you don’t or can’t measure where you are now versus where you were before, then how do you know if you have improved? Just as importantly, however, is knowing if your measure actually reflects your current
A Spare Parts Inventory Optimization Trap
For complimentary access to this article and our entire blog archive, register using the button below. We will also keep you up-to-date on new content and courses. If you are already registered then you need to log-in. Recently I had an interesting experience with a client that I