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Spare Parts Inventory Decision Making – Separating Emotion from Logic

February 14 spkhadmin

Engineering, maintenance, and technical people are not widely known for their emotional sides. More likely they are known for data, facts, and precision. So, it is perhaps surprising that with spare parts inventory decision making it is often the emotional response that leads. Not that this is widely acknowledged.     For access to this […]

Filed Under: Storeroom Management

Five Key Financial Principles for Spare Parts Management

February 5 spkhadmin

No review or study of spare parts inventory can be undertaken (or even commence) without having at least a basic understanding of the financial principles for spare parts management. At first, this statement may appear to be redundant; after all, don’t people understand that spare parts cost money? Of course they do. The problem is […]

Filed Under: Inventory Management

Should You Mix Project and Warehouse Inventory?

January 31 spkhadmin

As spare parts inventory management comes under increasing scrutiny at many companies they are often frustrated and maybe even surprised that their inventory levels continue to rise. Sometimes it appears that the reason for this is the unexpected inflow of items that are left over from maintenance shutdowns or projects. This raises the question: Should […]

Filed Under: Inventory Management

5 (Little Thought of) Ways that Improved Spare Parts Management Benefits Maintenance

January 24 spkhadmin

There is one great tension that comes from the different perspectives that people have on spare parts management benefits: people either focus on the potential working capital savings from reducing inventory or they focus on the perceived availability benefits of holding more inventory. However, by focussing on these important but simplistic spare parts management benefits […]

Filed Under: Inventory Management

Why Deciding Whether or Not to Stock a Spare Part is Not Trivial

January 17 spkhadmin

How do you decide whether or not to stock a spare part? Is the time and effort spent on this decision not only unnecessary but perhaps actually wasted?   One of the most important, perhaps even THE most important, decision that will be made regarding any individual spare part is whether or not to stock […]

Filed Under: Inventory Management

8 Ways that the Management of Spare Parts Inventory is Unlike Other Inventory

January 3 spkhadmin

Subject Area: Management of Spare Parts Inventory Do you manage spare parts inventory? Are you aware that spare parts inventory has specific characteristics that differentiate it from other inventory types? This article explains 8 ways in which the management of spare parts inventory is different to managing other types of inventory.         […]

Filed Under: Inventory Management

This is Why Some Spare Parts Inventory Managers Make a Difference and Some Don’t

December 19 spkhadmin

[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] Over the years I have discovered something interesting. There are many spare parts inventory managers that do something a little different at this time of the year.       No, I don’t mean that they plan how they can move budget allocation from one fiscal year to another (although […]

Filed Under: Continuous Improvement

Two Types of Inventory Accuracy

December 13 spkhadmin

Inventory accuracy is an important measure when assessing the effectiveness of spare parts management. But did you realize that there are two different types of inventory accuracy? Understanding this and which type of accuracy you are measuring is vital if you are to truly understand your performance and how to improve. For access to this […]

Filed Under: Inventory Management, Storeroom Management

Managing Repairable Spares

December 6 spkhadmin

Repairable Spares

Do you need to manage notable and repairable spares? Is balancing the reality of high downtime costs with the repair and replace costs resulting in sub-optimal outcomes? This article discusses the different types of rotable and repairable spares and identifies the three documents needed to make better repair/replace decisions. For access to this post, and […]

Filed Under: Inventory Management

Max-Min OR ROP-ROQ: Does it Really Matter?

November 14 spkhadmin

Re-Order Point Calculator

This article covers: The definitions of Min, Max, ROP, and ROQ Why the differences are meaningful and important The pros and cons of using each Why you need to get this right Links to further reading For access to this post, and all of our content, join using the button below. If you are already […]

Filed Under: Inventory Management

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