The issue with inventory optimization is that it is multifactorial. That means it relies on a whole range of different factors in order to be truly effective. If you focus solely on one single criterion, one of those factors, then you are likely to be missing out on big opportunities

Spare parts bought as part of a new capital equipment deal seem like free spare parts. But there are consequences from how we treat those parts. It’s just that sometimes they’re not so obvious to us. Phillip Slater explains.   The High Cost of Free Parts Video Transcript The transcript

Mastering Spare Parts Management Meetings is a two-part video series developed from a presentation and interview with Joel Levitt. Introduction It is a fact of life that spare parts management meetings are required for both planning and decision-making. Why are spare parts management meetings so important? Without meetings and the

Forecasting spare parts can be hard, especially intermittent parts. Often the demand for parts is based on random failure. In this short video Phillip Slater explains what works – and what doesn’t!   Forecasting Spare Parts Requirements Video Transcript The transcript of this video is available to members and subscribers

Companies spend money (working capital) on spare parts inventory that they don’t actually need. They end up holding them for a long time before deciding to remove those parts and incur the cost of the obsolescence. Perhaps a better idea would be to not buy those parts in the first

The effective and efficient management of spare parts inventory relies on the input from people from a whole range of different functions from within the organization. Working together is essential for spare parts management success. Phillip explains in this short video. The transcript of this video is available to members

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

The Inventory Cash Release Process simplifies the review of individual spare parts items and helps you make better decisions on stock holdings and quantities. How simple is this process? In this short video Phillip Slater explains. The Inventory Cash Release Process Video Transcript The transcript of this video is available

One of the enduring debates around spare parts management is to do with spare parts standardization. That is, if we standardize our plant and equipment, we would then be able to hold a standardized set of spare parts? In this short video Phillip Slater explains the pros and cons of