It is important to specifically categorize insurance spares in your inventory.
If you don’t categorize insurance spares you may find that you stock a lot of value in this type of spare part but cannot segment those spare parts and therefore subject them to appropriate scrutiny.
With appropriate scrutiny you can ensure that you only hold the insurance spares that you really need.
Here is our Insurance Spare Definition
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You may also be interested in our Spare Parts Management Resource Library.
Author: Phillip Slater