Subject Area: Inventory Goal Setting The Problem with Inventory Goal Setting As I write this it is early January and my inbox is awash with advice on goal setting. There are articles, podcasts and webinars all aiming to tell me how to set attainable goals for the year. Unfortunately, most of this advice misses […]
The Spare Parts Data That You MUST Check
There Are Many Types of Spare Parts Data In the world of spare parts inventory management there is plenty written and said about spare parts data. The spare parts data that is your parts usage history. The spare parts data that is your parts description. The spare parts data that aids procurement. But […]
Forecasting Spare Parts Requirements
Essentially all inventory stocking decisions can be resolved as a forecasting problem. This is because the essence of inventory management is determining the most appropriate level of inventory to hold, to service the expected future demand for that inventory, based on the expected supply constraints. Thus all inventory management requires […]
Spare Parts Management Best Practice Starts Outside the Storeroom
Best Practice Requires Preparation You don’t need to be a sports fan to have heard of Muhammad Ali. His story of winning the world heavy weight championship three times is legendary. The photo of Ali standing over a defeated Sonny Liston is one of the most famous sporting images of all time. During his career […]
Stock Turn Illusion and How to Avoid It
What if the metric that you rely on doesn’t actually tell you what you think it does? In this 2-Minute Tutorial Phillip Slater discusses the Stock Turn Illusion and how some companies misinterpret this important spare parts inventory management measure. Phillip Slater is a Spare Parts Management Specialist with 35 years experience and the founder […]
Why You MUST Have Multiple Spare Parts Management Champions
Every consultant that you ever meet will tell you that in order to implement any type of operational improvement you will need a project champion. That is, someone who not only knows what is required but who also is prepared to work to make it happen, push back to the neigh-sayers, help inform and educate […]
Do Inventory Classifications Matter?
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. Click here for information on our Practitioner Playbook. Posted by: […]
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 […]