When you do Spare Parts End of Life planning you have to make a really important choice.
If you consciously make that choice at the beginning of your end of life planning process, you’ll have a much better result.
In this short video Phillip Slater explains.
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Spare Parts End of Life Planning
Video Transcript
Hi, my name is Phillip Slater and for the next couple of minutes I’d just like to give you something to think about.
When you do End of Life planning for a spare part you have to make a really important choice.
You see, it’s absolutely certain that at some point in time the parts that you are holding in your inventory will become obsolete.
Now, it could be that the vendor is phasing them out for some reason, or it could be that you are no longer going to be using that plant and equipment.
But in either case, you are going to have to plan for the end of life of that part and when you do that you have, as I said, a really important choice to make, and the choice is this.
Do you go for the lowest cost option or do you go for the best availability?
So, if you are going for lowest cost, you of course want to spend as little as you can on parts that in the end you may have to just throw away.
But if you’re going for availability, you want to ensure that you have the parts that you need to maintain that equipment right up until the point where you no longer need to use that equipment.
It’s a really important choice that you’re going to have to make and if you could consciously make that choice at the beginning of your end of life planning process, you’ll have a much better result.
My name is Phillip Slater and that’s something to think about.