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Adopting a Zero Inventory Mindset
Are you concerned with how much inventory you have in stock? Do you know what is meant by a ‘Zero Inventory Mindset? This article explains three questions to ask and how to apply the Zero Inventory mindset to your inventory. We Don’t Live in an Idealized World In an idealized world there would be instant […]
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)
Do you know what the problem is 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 in this short video. For access to this post, […]
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
For access to this post, and all of our content, join using the button below. If you are already registered then you need to log-in. For information on our Pro Level membership please visit our Pro Level page. Posted by: Phillip Slater
The High Cost of Free Parts (Video)
Does your company buy spare parts as part of new capital equipment purchases? Are these then treated as ‘free spare parts’ when used by your team?. There are some very real consequences from how we treat those so-called ‘free’ parts. It’s just that sometimes they’re not so obvious to us. Phillip Slater explains. For access […]
Four Ways That Spare Parts Management Silos Prevent Performance
Does your company operate with clear management silos? Do you understand how this requires special management attention in order be successful? Your spare parts management silos will have a big impact on your overall performance. For access to this post, and all of our content, join using the button below. If you are already registered […]
Getting Approval for Spare Parts Management Training – An Email for Your Boss
Do you need your boss to agree for you to get spare parts management training approval? Are you looking for a way to win their support? To help we have provided here a template of an email for your boss. Just cut and paste this note below and then modify the content […]
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 […]