Subject Area: Spare parts inventory optimization trap
Traps to Avoid: Lesson 2
Spare parts inventories are typically made up of tens of thousands of items, but do they all need to be optimized?
It is easy to fall into the trap of thinking that because the ‘software does the work’ you should include everything you have in your spare parts inventory optimization project.
But there are hidden costs in terms of your team’s time and energy to review results. Therefore, items of low value probably don’t need to be analysed.
Avoiding this one trap could save thousands of dollars in software and labor costs by seeking a solution that will analyse only the quantity that you need.
This spare parts inventory optimization trap is explained in this short video, an edited extract from a live webinar titled: Selecting the Right Spare Parts Inventory Optimization Software for Your Company
Run time: 2:27
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Posted by: Phillip Slater