A couple of weeks ago I ran a workshop on spare parts management for reliability and maintenance personnel. The attendees were a mix of tradesmen, engineers, and managers, covering both mechanical and electrical disciplines, from a large paper mill. If you have ever worked in the area of maintenance you will know that some of […]
Spare Parts Criticality
How do you determine spare parts criticality? Most companies don’t really understand criticality and see it as a single dimension issue. But that is just not right. Machine or Operationally Critical? First, is the item in question machine critical or operationally critical? By machine critical I mean, will failure of […]
The Flip Side of Accountability
Establishing appropriate accountability is one of the key actions required for achieving lasting success in any management activity. This is especially the case in activities aimed at creating lasting change in the way things are done – like in an inventory optimization project. To achieve lasting and sustainable inventory optimization you need to establish the […]
Inventory Optimization – What’s In It For Me?
If you have ever read a book on selling or marketing, you will know that one of the key tenants of those disciplines is to describe the major benefits for the buyer. From the buyer’s perspective this is literally translated into ‘what’s in it for me?’. Similarly, ask any consultant involved in ‘change management’ about […]
The James Bond Approach to Inventory Optimization
OK, I admit it, I am a James Bond fan. You know James Bond, British Secret Service, 007, license to kill, and all that. How much of a fan am I? Well I have all 25 movies on DVD! Recently it occurred to me that what we need to do in inventory optimization is to […]
Inventory Statistics Aren’t Analysis
Have you ever thought about the mind numbing array of statistics that sports commentators go through during just about any sports telecast? It seems that for every position or every action there is a raft of different stats that someone, somewhere seems to think matters. I guess that the commentators have to fill time in the […]
How to Manage Rotable and Repairable Spare Parts
The management of rotable items and repairable spare parts is different to the management of other inventory items and proper control requires greater cooperation between maintenance and stores/inventory management. For access to this article, and all of our content, join using the button below. If you are already registered then you need to log-in. […]
How Storeroom Security Puts Reliability at Risk
Many companies are fully aware of the importance of maintaining security around their spare parts inventories. They secure their spares in lock-up areas, ensure staff are on hand to manage the high levels of spares requests during the day shift period of highest maintenance activity, and provide a rock solid approach for identifying storeroom entrants […]
Procurement Savings: 33% by Removing One Artificial Constraint
Subject Area: Procurement Savings One of the main short comings that I see in the approach to indirect materials and spare parts management procurement is that many people don’t think past the key decision as to whether to stock or not to stock an item. After they reach the decision to acquire a spare part […]
Are the Benefits From Inventory Savings Real?
Last month I wrote about the cost of delaying action when improvement opportunities are identified. My point was that many people only consider the accrual of benefits AFTER they have taken action and not the opportunity cost of not taking or delaying action (e.g. if I can be $100 better off by doing X then […]