Spare Parts Know How

Spare Parts Inventory Management Training

  • Log-In
  • Individual Training
    • ‘Must Know’ Training
    • Advanced Course
    • Pro Level Membership
    • Masterclass Webinar
    • RMIC Certification
  • Team Training
    • Team Boot Camp
    • Elite Teams
    • In-Person Workshop
  • Open Archive
  • Other Resources
    • Books
    • Pro Level Library
    • Training Academy
    • Software and Services
      • Inventory Optimization Decision Support
      • Materials Data Management
  • Contact
  • About
    • Clients
    • Testimonials
    • FAQs
    • Phillip Slater

Inventory Statistics Aren’t Analysis

February 21 spkhadmin

inventory statisticsHave you ever thought about the mind numbing array of statistics that sports commentators go through during just about any sports telecast?

It seems that for every position or every action there is a raft of different stats that someone, somewhere seems to think matters.

I guess that the commentators have to fill time in the breaks and slow parts somehow.

These stats also help with the illusion that the commentators know what is going on!

Next time you watch some sport try asking this question every time that a commentator presents some stats – ‘so what?’


It Also Happens With Inventory Statistics


In many ways this is also what happens in inventory management and the array of inventory statistics that people generate.

This is often data masquerading as information.

Recently I was reviewing some files sent to me by a client company and I honestly couldn’t navigate my way through them without assistance.

The accountants at that company had developed these amazing spreadsheets that sliced and diced the inventory every which way. T

hey could tell you almost every inventory related statistic that you could possibly think of (and several that they had made up for themselves).

The problem of course, and the reason that they are working with me, is that their inventory is overstocked and they are not quite sure how to change that situation and achieve true optimization.

All of the, so called, analysis hasn’t help them overcome that problem, it has just helped them redefine the problem in about 150 different ways. The inventory statistics haven’t provided any real insight.

As you look at how to better manage your own inventory and as you work towards your goals, just remember that inventory statistics aren’t analysis, it is commentator time filler!

Genuine analysis will always answer the simple question ‘so what’?
 
 
 


You might also be interested in this article:
5 Myths of Inventory Reduction


 
 
Author: Phillip Slater
 

Filed Under: Metrics and Reporting

Substantial Global Community

Trusted by:
+20,000 professionals in
+130 countries
See a sample of companies HERE

Spare Parts Management Masterclass

Watch this on-demand webinar to discover the 8 strategies that will help you achieve your spare parts inventory management goals
Read more...

‘Must Know’ Training

Our ‘Must Know’ training course teaches the absolute ‘must know’ information, tools, techniques required for effective spare parts management.

Read more...

Advanced Spare Parts Management Course

For those who need to go deeper and broader.

Ideal if your goal is to update your company’s approach and systems for spare parts management.
Read more...

Pro Level Membership

With access to all our key resources, a Pro Level membership will equip you with the know-how and skills to become a ‘thought leader’ in spare parts inventory management.
Read more...

Online Boot Camp

A live, online, interactive, team-based delivery of our Basic Training course designed to provide your team with a common understanding of the basics of spare parts inventory management. Read more...

Software and Services

At SparePartsKnowHow.com we can help with more than just spare parts management training.

We also have access to software and services that are developed to help with spare parts inventory management.
Read more...

Latest Blog Posts

  • Systems Over Goals: A Smarter Way to Manage Spare Parts Inventory
  • Spare Parts Management Training: The Power of Curiosity and Commitment
  • Spare Parts Inventory Management: Small Wins and Compromises
  • Spare Parts Inventory Management Training: Letting Go of Ego
  • Best Practice Spare Parts Management
  • Email
  • LinkedIn
  • YouTube
Copyright © 2025 IPIAIGHT PTY LTD.