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. For complimentary access to this article and our entire blog archive, register […]
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 complimentary access to this article and our entire blog archive, register using the button below. We will also keep you up-to-date on new content and courses. If you are already registered then you need to log-in. Next Steps We provide the following options for you to learn more about these 7 specific […]
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. For complimentary access to this article and our entire blog archive, register using the button below. […]
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’. […]
Getting Approval for Spare Parts Management Training – An Email for Your Boss
Do you need approval from your boss before you can sign up for the spare parts management 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. […]
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 […]
Mastering Spare Parts Management Meetings – Part 1
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 meetings so important? Without meetings and the communication and agreement they can engender, no (big) […]
Forecasting Spare Parts Requirements (Video)
Forecasting spare parts can be hard, especially intermittent parts. Often the demand for parts is based on random failure. In this short video Phillip Slater explains what works – and what doesn’t! The video and transcript is available to members and subscribers only. For complimentary access to this video and transcript, plus our entire blog […]
Working Capital Decision-Making (Video)
Companies spend money (working capital) on spare parts inventory that they don’t actually need. They end up holding them for a long time before deciding to remove those parts and incur the cost of the obsolescence. Perhaps a better idea would be to not buy those parts in the first place. This is why decision-making […]