In this Two Minute Tutorial Phillip Slater discusses the only two reasons why you (or anyone) holds spare parts inventory. The first reason is when you can’t access supply within your planning horizon. For example, if you have a need for a spare part that is critical to your operations and the predominant failure mode is unpredictable, […]
Why Isn’t Procurement Treated as a Partner in Spare Parts Management?
When it comes to the management of spare parts used for maintenance and operations support, the procurement team is often treated as an outsider, a service provider, rather than a partner in ensuring that the objective of maintaining operational capacity is achieved. In my experience, this approach is a drag on both efficiency and effectiveness, […]
Spare Parts Management Best Practice #5: Eliminate Squirrel Stores
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Stop Being Incremental with Spare Parts Management
There is an old management maxim that says that ‘the good is the enemy of the great’. The way that I interpret this expression is that make real progress with their spare parts inventory management companies need to stop being incremental. This is because incremental activity makes us feel like we are making progress with […]
Spare Parts Management Best Practice #4: Develop Clear ROP & ROQ Logic and Guidelines
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Spare Parts Management Best Practice #3: Define Your Stock/Don’t Stock Criteria
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Spare Parts Management Best Practice #2: Regular Reviews
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Spare Parts Management Best Practice #1: Create Transparency
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Defining Best Practice for Spare Parts Management
Defining best practice for spare parts management can be tough. In fact, our recent research identified that, among the people that manage spare parts inventory, very little is known about best practices – that is, what top performers do better than others, what to focus on for better results and […]
Spare Parts Inventory Management Secrets
Subject Area: Spare Parts Inventory Management Secrets The Reality of Spare Parts Inventory Management One of the little acknowledged issues with spare parts inventory management is that for many companies they really don’t know what they have and/or why they have it. How can that be you ask. Don’t most companies use some kind […]