Subject Area: Excess and Obsolete Parts Management One thing that almost every organization, regardless of their industry, has in common is the existence of surplus MRO & spare parts. This is also the least addressed aspect of spare parts inventory management. The book Spare Parts Inventory Management describes the problem concisely*: One of the peculiarities […]
Supply Chain Partner Relationships – Interview
Topic area: Supply Chain Partner Relationships In this podcast, Ryan Wicklum of The Owl Solutions, interviews Katya Vladykina, supply chain practitioner, and Kevin Koonce of Right Sized Inventory. Right Sized Inventory (RSI) produces inventory optimization software that is powered by their patented and unique approach to supply chain modeling. Not only is their inventory optimization […]
A Specific Multi-National Company (MNC) Problem
Most of my career has been spent working with multi-national companies (MNCs). Sometimes these companies have operations in just a couple of countries. Sometimes they have hundreds of locations around the world. One thing they usually have in common is a disjointed approach to spare parts inventory management. They lack visibility across their locations and […]
How to Select the Right Vendor for the Services That You Need
Recently I presented a webinar that addressed the pros and cons of outsourcing the procurement of MRO. What we didn’t address was the issue of selecting the right provider. This issue doesn’t just impact procurement outsourcing but ANY provider of services. Here are links to two articles that address how to select the right vendor […]
Inventory Optimization Software Solution – Interview
Topic area: Inventory Optimization Software Listen in as Sarah Barnes-Humphrey, Founder and Host of Lets Talk Supply Chain interviews Chris Dietrich of Right Sized Inventory. Right Sized Inventory (RSI) produces inventory optimization software that is powered by their patented inventory optimization technology. This to help companies optimize their spare parts inventory in minutes. Their inventory […]
Webinar: Procurement Outsourcing of Indirect Materials
Do you know the characteristics that differentiate direct and indirect procurement? Direct procurement is characterized by high volumes, regular purchases, and a small number of suppliers. Indirect procurement, and MRO in particular, is characterized by low volumes, irregular purchases, a large number of different items, and a large number of suppliers. These key differences mean […]
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The Hidden Costs of Used Industrial Equipment
At its core, the process of asset recovery is exactly what sounds like: A viable way for businesses to recover capital from either surplus or unused industrial assets, like spare parts and unused plant and equipment. What is not often fully appreciated is that one of the hidden costs of retaining used industrial equipment is […]
Leveraging Consignment Inventory Options
Subject Area: Consignment Inventory Many years ago I developed an approach to inventory optimization that I called The Inventory Cash Release Process (ICR). At the heart of that technique is the 7 Actions for Inventory Reduction. These ‘7 Actions’ were developed by challenging the constraints that are inherent in most thinking related to inventory optimization. […]
The Complete Guide to Asset Recovery
The identification and removal of surplus, excess, or obsolete inventory can be a major headache for most companies. So much so that it often seems easier to ignore than to do something. But that approach can’t last forever as this ‘zombie’ inventory is a drain on the balance sheet and eventually people do notice. Dealing […]