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Inventory Accuracy: Extract from Webcast

July 29 spkhadmin

The following video is an extract from a recent webcast on inventory accuracy and Why it Matters. Here Phillip Slater discusses two different definitions of inventory accuracy. Understanding that, from an inventory management  perspective, we need to be concerned with accuracy at an individual item level tells us that to maintain an accurate inventory companies […]

Filed Under: Glossary

Inventory Accuracy Definition

July 25 spkhadmin

The idea of providing an inventory accuracy definition may seem a bit redundant – after all the word accuracy is understood and who doesn’t want an accurate inventory? The purpose of providing this inventory accuracy definition, therefore, is to provide a useful inventory accuracy definition so that the actions required to maintain an accurate inventory should also […]

Filed Under: Glossary

Inventory Reduction: Why 30% is Easier to Achieve than 3%

June 24 spkhadmin

[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] Here is something to think about: it is easier for companies to achieve a 30% inventory reduction than a 3% reduction. I know that this statement is counter-intuitive so you may be saying to yourself: How can that be, surely achieving a lower target is easier than achieving a higher […]

Filed Under: Inventory Optimization

Achieving Accurate Inventory Records

May 17 spkhadmin

[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] If you are on LinkedIn you may know that I am an active contributor to various forum discussions.  A few days ago I made the comment on one such discussion on how to control inventory.  My comment was: ‘Controlling inventory is simple – after all it (usually) doesn’t get up […]

Filed Under: Storeroom Management

Spare Parts Management eBook

May 6 spkhadmin

Subject Area: Spare Parts Management eBook   The Problem with Spare Parts Management at Large Companies   Managing spare parts at a large company presents a unique set of challenges and problems. It is only by ensuring continuous and wide-spread access to information and training that is credible, reliable, and practical, that your company can […]

Filed Under: Inventory Management

Stock Turn Definition

April 29 spkhadmin

Stock turn is one of, if not the, most important metrics that you can use to measure the effectiveness of your spare parts inventory management. However, like all metrics you do need to calculate it and use it in the right way. One of the most common issues with stock turn measurement is that companies […]

Filed Under: Glossary

A New, Simple ReOrder Point Calculator

April 24 spkhadmin

One question that people ask me regularly is: how do we access a simple reorder point calculator for the ROP for spare parts when our data is inadequate or unreliable? Well, now we have a way to do just that! For access to this post, and all of our content, join using the button below. […]

Filed Under: Inventory Management, Inventory Optimization

The Spare Parts Repair or Replace Decision

April 18 spkhadmin

[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=uY&webforms_id=14719202″ css=”on” center=”off” center_margin=”200″/] Recently I needed to make a spare parts repair or replace decision because I experienced something that might be familiar to some readers – an equipment breakdown! Last week I was mowing the lawn at the back of my house when my 15 year old lawn mower just gave up. […]

Filed Under: Storeroom Management

Definition of Just In Time (JIT)

April 9 spkhadmin

Just In Time (JIT) is perhaps the most often quoted, and yet misunderstood, term in management.  JIT, developed as one pillar in the Toyota Production System (the other being autonomation), is a production management method that aims to eliminate waste and improve product flow on a production line. This is usually achieved through the application […]

Filed Under: Glossary

5 Common Techniques for Spare Parts Management That You Should NOT Use

March 26 spkhadmin

In this recording of a public webinar Phillip Slater identifies 5 common techniques for spare parts management that you should not use. Phillip explains what they are and why they should not be used. For access to this post, and all of our content, join using the button below. If you are already registered then […]

Filed Under: Video

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