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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. For access to this post, and all of our content, join using the button below. If you are already registered then you need to log-in. For information on our Pro Level membership please visit our […]
Spare Parts Inventory Management Secrets
Subject Area: Spare Parts Inventory Management Secrets For access to this post, and all of our content, join using the button below. If you are already registered then you need to log-in. For information on our Pro Level membership please visit our Pro Level page. Posted by: […]
The Spare Parts Management KPI Self-Delusion
Should any spare parts management metric be treated as a spare parts management KPI? Does your company suffer from the spare parts management KPI delusion? There is an old saying that ‘what is measured, matters’ and while there are some companies that don’t actually measure their performance through spare parts KPIs (yes, really) the vast […]
Isn’t It Time That We Started Talking About Inventory Prevention?
If the goal really is spare parts inventory optimization, then surely doing the work after the parts have been purchased is just wrong. Shouldn’t we be taking action before the parts are purchased? Shouldn’t we be talking about inventory prevention? For access to this post, and all of our content, join using the button […]
Obsolete Inventory Management – Three Ways to Deal With It
Inventory Doesn’t Just Appear! Have you heard the expression about ‘shutting the gate, when the horse has bolted’? It refers to trying to stop something happening when it has already happened. Seems like a silly thing to do, right? For access to this post, and all of our content, join using the […]
Action #7: Reduce the Value of Spare Parts Items Held
To reduce the value of spare parts items held is the last of the 7 Actions for Inventory Reduction and is probably the most obvious, but perhaps because of that the most overlooked. Most cost reduction actions are aimed at reducing the cost of an item for the obvious profit and loss impact. However, cost reductions […]
Action #6: Match Spare Parts Delivery With Usage
Each of the actions discussed in this series so far has been looking at ways to reduce the physical number of items held. However, one of the variables that drive the cost of holding inventory is how long you hold the inventory. This represents the amount of time that you have to finance the working […]