There is no doubt that the advent of the internet has delivered incredible productivity and efficiency improvements for businesses worldwide.
Improved communications, fast data transfers, and reduced travel through the use of video conferencing are just a few of the benefits that have been widely realized.
In addition we have access to information like never before. Along with the internet came a new verb: to Google, used to describe the search we do anytime that we need to know something, no matter whether it is critical or trivial.
But has all this access actually resulted in improved operational performance and specifically improved spare parts inventory management? I don’t think so and here are two reasons why:
- Some data in our benchmarking database stretches back to 1999 and yet companies today still don’t readily reach those benchmarks.
- In my work I conduct ‘best practice’ surveys and for many companies their practices are anything but ‘best practice’.
So, if access to information is not lifting performance, what is?
Taking action. The key to improvement is not to know more, it’s to do something with what you know. It requires access to practical information that is usable on a day-to-day basis.
So, has the internet delivered improved spare parts inventory management? Only for those that are prepared to do something with that access.
Click here for information on our Practitioner Playbook.
Posted by: Phillip Slater