In this 2 Minute Tutorial, Phillip Slater, discusses spare parts inventory classifications. Does it matter whether you classify your spare parts inventory by machine type or inventory type? Phillip thinks that it does and explains why. For information on our Pro Level membership please visit our Pro Level page. […]
The Acquisition Trap and Spare Parts Management
The Acquisition Trap What happens when most companies purchase or develop software for solving their spare parts inventory management problems? Typically, they will spend a lot of time, energy and money trying to integrate their purchase into their existing systems but ultimately, over time, they will make little or no measurable progress. This is not […]
How Your SAP Safety Stock Definition Can Drive You to Overstock Your Inventory
The SAP Safety Stock Definition and Your ERP What would you say if you found out that your company software systematically encouraged you to overstock your spare parts inventory? Crazy idea right? After all isn’t the software supposed to help you to get it right? Well, this is the exact situation that I believe occurs […]
How Your ERP Software May Lead to Overstocked Inventory (Video)
Subject Area: Overstocked Inventory Avoiding a Pitfall that Leads to Overstock Inventory In this 2 Minute Tutorial, Phillip Slater, warns of a potential pitfall with the use of ERP software to determine the spare parts ReOrder Point (ROP). Without proper knowledge of spare parts inventory management it is possible that your ERP is driving you […]
Spare Parts Management Collaboration Vs Cooperation
Subject Area: Spare Parts Management Collaboration Collaboration Vs Cooperation Over the past few years there has been a growing awareness that effective and efficient spare parts management requires the input of people from a number of different departments. Engineering spare parts inventories are influenced by engineering, maintenance, planners, stores/warehouse, finance, purchasing, operations, and suppliers. It […]
Smart Spare Parts Management
Translate the Supply Chain General to the Smart Spare Parts Management Specific Recently I attended the Smart Supply Chain and Logistics Conference in Melbourne Australia. This is usually referred to as the Smart Conference. Now you may be asking yourself, ‘what has a conference dealing with distribution centers, warehouse automation, and trucks, have to do […]
The Two Big Secrets of Spare Parts Management
Learn About the Impact on Your Spare Parts Inventory In this 2 Minute Tutorial Phillip Slater discusses the two big secrets of spare parts management, the impact these secrets have on your spare parts inventory and how awareness of these secrets will help you make better spare parts management decisions. […]
Spare Parts Management Process is Complex But Is It Complicated?
‘Getting It Right’ With Spare Parts Management Achieving best practice spare parts management process involves the input of many different people and/or departments in an organization. To ‘get it right’ with spare parts for maintenance and operational support you need input from the storeroom (or warehouse), procurement, maintenance, planning, finance, and operations (you may have […]
Spare Parts Management Training – Three Things You Must Do
Be Wary of ‘Learned Experience’ To achieve best practice from spare parts management training you need to be wary of ‘learned experience’. Let me explain… Recently I had occasion to use a goods lift (elevator) at a warehouse. You may be familiar with this type of lift (elevator), they are typically much larger than […]
What is Your Dock-to-Stock Time?
The Influence of Lead Time One of the most important aspects of spare parts inventory management, in fact any inventory management, is the lead time. Lead time has a major influence on how much stock you hold. Lead time is one of two key factors in determining your cycle stock quantity. Lead time variability is […]