Over the years, my experience and research has indicated that companies that have effective spare parts stocking policies achieve better spare parts management outcomes than those that don’t. Sounds obvious, right? Well, here’s the problem. Almost every stocking policy that I see at client companies is ineffective. The flow on
The Herd Behaviour of Spare Parts Inventory Metrics
Often, I am asked about spare parts inventory management metrics. This is not surprising as we all know that, in the words of William Thomson (Lord Kelvin), ‘what gets measured gets managed‘. Here is a quote, reportedly from a lecture by Lord Kelvin on ‘Electrical Units of Measurement’,
7 Things That Every Senior Manager and CFO Should Know About Spare Parts Management – Part 6
It is easier for individuals to spend money on more inventory than it is to change processes, examine purchases, or better define maintenance needs 6. How 36% of Working Capital Spent on Spare Parts is Wasted The Paradox of Spare Parts Management Of course, nobody buys spare parts with
Spare Parts Management Certificate Testimonial
The Best Resources I Have Every Studied My career has been spent in Spare Parts, Materials and Warehousing in support of operations and maintenance (O&M). Until now, my knowledge, skill and ability has been largely learnt on the job as well as working alongside some very experienced maintenance people and
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 Phillip Slater explains Part 4 of the book –
Spare Parts Inventory Management – Part 3
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 Phillip Slater explains Part 3 of the book –
Spare Parts Inventory Management – Part 2
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 Phillip Slater explains Part 2 of the book –
Spare Parts Inventory Management – Part 1
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 Phillip Slater explains Part 1 of the book –
Spare Parts Inventory Management – Structure of The Book
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 Phillip Slater explains the structure of the book. For
The Spare Parts Data That You MUST Check
There Are Many Types of Spare Parts Data In the world of spare parts inventory management there is plenty written and said about spare parts data. The spare parts data that is your parts usage history. The spare parts data that is your parts description. The spare parts data