Subject Area: Inventory reduction metric Goodhart’s Law When thinking about the measurement of actions and outcomes relating to spare parts inventory reduction it is worth considering the work of a British economist, Charles Goodhart. In 1975, Goodhart wrote what became known as ‘Goodhart’s Law’. The simplified version states: When a measure becomes a target, it […]
Spare Parts Management Foundations for Teams
Topic Area: Spare Parts Management Foundations for Teams Where This Fits in the Capability Framework Foundations for Teams sits at the start of the capability pathway, but it is designed for organizational alignment rather than individual learning alone. It helps create a common decision language across the people who influence spare parts outcomes. […]
Why Your Spare Parts Metrics Must Tell a Story
Subject Area: Spare Parts Metrics Everyone reading this will have no doubt heard the expression, “what gets measured, gets managed” – or something similar. The original quote is usually attributed to Peter Drucker’s 1954 book ‘The Practice of Management’. Perhaps more interesting is the somewhat lesser-known full quote: What gets measured […]
Spare Parts Inventory Team Training
Subject Area: Spare Parts Inventory Training Why is it, that despite the best efforts of management teams, most spare parts inventories remain bloated with excess, surplus, and obsolete items, while also not providing the level of service expected by the users? The simple answer is spare parts inventory training – or rather, a lack of, […]
AI Generated Spare Parts Inventory Policy
The following content was generated using Perplexity AI and is posted here as an exhibit for the main article discussing AI and spare parts management. Click here to go to the main article. My query was, ‘write a spare parts inventory policy‘ Here’s is what was produced. A spare parts inventory policy […]
AI Generated Article on Spare Parts Management
The following content was generated using Perplexity AI and is posted here as an exhibit for the main article discussing AI and spare parts management. Click here to go to the main article. My query was, ‘Write 500 words on spare parts management‘ Here’s is what was produced. Spare parts management is […]
Inventory Optimization Solution
Subject Area: Inventory optimization solution When most people think about spare parts inventory optimization, they tend to think of expensive inventory optimization software that requires lots of training and produces ‘slice and dice’ reports. At least that’s my experience. The problem is that with spare parts inventory nobody really needs that level of ‘fire power’. […]
Inventory Sharing Solution
Subject Area: Inventory Sharing Solution For those of you that manage spare parts inventory across multiple sites, how often have you had one site purchase a new spare when another site has an excess quantity of the same item on the shelf? What about experiencing extended downtime waiting on a spare to be delivered when, […]
Excess and Obsolete Inventory Disposal
Subject Area: Excess and Obsolete Inventory Disposal How many companies can you name that have a well-defined system for disposing of excess and obsolete spare parts inventory? Not many I bet. The problem is that typical spare parts management systems are designed to get stuff into the storeroom, not remove the stuff no longer needed. […]
Materials Data Management Solution
Subject area: Materials Data Management Solution When was the last time you checked how much of the data in your in-house spare parts catalog is incorrect? By incorrect I mean wrong or out of date description, part number, supplier details and so on. Recently I saw a report indicating that in the average catalog nearly […]