Storeroom management is one of the key functions associated with spare parts inventory. To be effective you need to pay attention to the 3 As of storeroom management. This short video discusses each of those in turn. The video and transcript are available to members and subscribers only. For complimentary access to this video and […]
Adopting a Zero Inventory Mindset
We Don’t Live in an Idealized World In an idealized world there would be instant inventory replenishment and zero inventory. Instant replenishment would mean that whenever an item is needed it would be instantly available. Companies would hold no stock because they could get delivery in the required quantity, in an acceptable time frame, all […]
Last Time Buy and Spare Parts Management (Video)
With all spare parts, at some point, you will have to make a decision about your last time buy. This need comes about in several different ways but the decision is still the same: What will be the final quantity of that part that you are going to purchase? Phillip Slater explains in this short […]
The Problem with Spare Parts Inventory Optimization (Video)
What is the problem with spare parts inventory optimization? Yes, spare parts inventory optimization is terrific. It helps companies adjust their stock holding levels, reduce their working capital and reduce their procurement costs. However, there is a problem – as Phillip Slater explains. The video and transcript are available to members and subscribers only. For […]
Inventory Optimization is Multi-Factorial (Video)
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 to better optimize your inventory. […]
Identifying Best Practices for Spare Parts Inventory Management
One problem with ‘best practices’ is that while it may be possible to define targets for almost everything that you do, implementing actions to achieve those targets may not actually make any difference to your overall results. Another problem is that discussions on practices are usually not objective – for many people what’s ‘best’ usually […]
The High Cost of Free Parts (Video)
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. This video and transcript is available to members and subscribers only. For complimentary access to this […]
Four Ways That Spare Parts Management Silos Prevent Performance
Your spare parts management silos have a big impact on your overall performance. For example, your maintenance and reliability team will know better than anyone the impact that a shortage of spare parts has on the business. No spare often equals no production and so there is sometimes an attitude of ‘the more the merrier’. […]
An Email for Your Boss
Do you need approval from your boss before you can sign up for the training and resources at SparePartsKnowHow.com? To help you win their support we have provided this template of an email for your boss. Just cut and paste this note below and then modify the content to your specific needs. SUBJECT LINE: [Insert […]
Mastering Spare Parts Management Meetings – Part 2
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 communication and agreement they can […]