Identifying Critical Spare Parts: One of the key causes of incorrect critical spare parts assessment is the assumption that just because a part is critical for the equipment that it is also to be classified as a critical spare part for the storeroom. In this short video Phillip Slater explains why this is a problem. […]
Materials Master Data Maturity in the Era of Industry 4.0
This content has been removed However, you might be interested in this article, Management of Spare Parts: Are You Playing by the Right Rules.
Storeroom Management: The 3 As For Effective Management
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. Storeroom Management: The 3 As For Effective Management Video Transcript Hi, my name is Phillip Slater. For […]
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
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. The Problem with Spare […]
Inventory Optimization is Multi-Factorial
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
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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. The […]
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 […]