Spare Parts Management Is About Adding Value Spare parts management requires more than just understanding internal procedures and knowing how to operate the company ERP. Spare parts management requires an understanding of the interaction of people, processes, engineering, maintenance, planning and finance. It’s about providing guidance and adding value to the organization through educated […]
Corrosion Protection of Spare Parts
What happens when iron and oxygen interact? Corrosion. The most familiar form of corrosion is rust. That red-brown stain that is seen on unprotected iron-based metals everywhere. It is a major problem with many spare parts. Maritime industries such as shipping and offshore oil and gas platforms spend a lot of time and money on […]
What is a Spare Parts Numbering System?
This article discusses spare parts numbering systems and covers: What is a spare parts numbering system? Intelligent and dumb spare parts numbering Which approach to use A spare parts numbering system is a way to differentiate items within your spare parts inventory without constantly referring to long descriptions. It is short-cut for spare […]
7 Things That Every Senior Manager and CFO Should Know About Spare Parts Management – Part 6
Subject Area: Working Capital Management It is easier for individuals to spend money on more inventory than it is to change processes, examine purchases, or better define maintenance needs 6. How 36% of Working Capital Spent on Spare Parts is Wasted The Paradox of Spare Parts and Working Capital Management Of course, nobody buys […]
Spare Parts Inventory Data Governance and Cleansing
This article discusses: Why Your Spare Parts Data Will Lose Integrity The Key to Spare Parts Inventory Data Governance The Requirements of a Data Governance Solution Why Your Spare Parts Data Will Lose Integrity No matter how well the spare parts identification system is set up, without an appropriate spare parts inventory data governance […]
The Key Elements of a Spare Parts Management System
Do you know what constitutes a spare parts management system? Do you know the consequences for not knowing this? This article explains: A Video Explaining the Key Elements of a Spare Parts Inventory Management System Just What is a Spare Parts Inventory Management System? Definition of a Spare Parts Inventory Management System Establishing a Spare […]
7 Things That Every Senior Manger and CFO Should Know About Spare Parts Management – Part 5
Subject Area: Spare Parts Inventory Control It is pretty clear that a company that wants to maximise cash flow, maintain a strong balance sheet, meet customer expectations, reduce operational costs, and maximize profits, had better pay attention to its spare parts inventory management! 5. Why Your Profit Relies on Your Spare Parts Inventory Control […]
Spare Parts Management Certificate Testimonial
The Best Resources I Have Every Studied My career has been spent in Spare Parts, Materials and Warehousing in support of operations and maintenance (O&M). Until now, my knowledge, skill and ability has been largely learnt on the job as well as working alongside some very experienced maintenance people and engineers. Over the years I […]
7 Things That Every Senior Manger and CFO Should Know About Spare Parts Management – Part 4
Subject Area: Spare Parts Management Support Companies that fail to provide the resources and C-suite support necessary to ensure the effective management of spare parts… will fail to deliver the full measure of shareholder value 4. Spare Parts Management is Fundamental to Achieving Your Business Strategy The Relationship Between Business Strategy and Spare Parts […]
7 Things That Every Senior Manager and CFO Should Know About Spare Parts Management – Part 3
Subject Area: Excess Parts Inventory All problems end up in inventory Continuing this series on 7 Things That Every Senior Manager and CFO Should Know About Spare Parts Management this post addresses Part 3: Excess Inventory is a Symptom of Other Problems. 3. Excess Inventory is a Symptom of Other Problems Understanding Excess Inventory […]