What are your options for dealing with excess or obsolete spare parts inventory? Typically there are four: 1. Do nothing 2. Write off and dump 3. Utilize at another site/location 4. Sell Option 1 achieves nothing, except setting a poor example on what the company expects of
Excess and Obsolete Inventory Disposal
Subject Area: Excess and Obsolete Inventory Disposal How many companies can you name that have a well-defined system for disposing of excess and obsolete spare parts inventory? Not many I bet. The problem is that typical spare parts management systems are designed to get stuff into the storeroom, not remove
Last Time Buy and Spare Parts Management (Video)
With all spare parts, at some point, you will have to make a decision about your last time buy. This need comes about in several different ways but the decision is still the same: What will be the final quantity of that part that you are going to purchase? Phillip
Spare Parts End of Life Planning
When you do Spare Parts End of Life planning you have to make a really important choice. If you consciously make that choice at the beginning of your end of life planning process, you’ll have a much better result. In this short video Phillip Slater explains. Spare Parts End of
Obsolete Spare Parts Inventory is an Absolute Certainty (Video)
If there’s one absolute certainty about all items in your spare parts inventory, it’s this: that at some point in time, every item in your inventory will become obsolete. In this short video, Phillip Slater explains why this is. Obsolete Spare Parts Inventory is an Absolute Certainty Video Transcript
How to Sell Your Obsolete and Excess Spare Parts on eBay
One of the major issues faced by almost everyone that manages spare parts is: what to do with obsolete and excess spare parts inventory? One option is to sell the items for essentially scrap value but this rarely raises more than 5c on the dollar. Recently I met Brian Burns
The Big Lie of Spare Parts Obsolescence
One of the peculiarities of spare parts inventory management is that, generally, the supply chain is established to operate only one way. What if you had a storeroom full of parts that you didn’t need but also had no way of managing them? No process for identification and
Spare Parts Inventory Management – Part 4
Subject Area: Spare Parts Inventory Management – Part 4 The book Spare Parts Inventory Management addresses the entire life cycle of spare parts inventory management – from establishing the system of management through to deciding what to stock, the operations phase, and ultimately obsolescence and disposal. In this short video
Obsolete Inventory: Your Risk is Greater Than You Think
I am sure that you know that risk management is a key aspect of any mature spare parts management process and this is especially so with respect to obsolete inventory. Usually, this takes the form of evaluating the risk associated with a stock out – that is not having a
How to Manage the Shelf Life of Spare Parts?
Q: Can you please explain the issues around the shelf life of Spare Parts? A: Shelf life is specifically related to the spare part and its storage – there is no one-size-fits-all answer. For example, bearing suppliers will typically advise that bearings will only be reliable for up to 5