Subject Area: Spare Parts Management Decisions
Do you fully understand the connection between your business’ profit and your spare parts management decisions?
How does a decision on spare parts holdings and management flow through to your corporate profit?
The reality is that your business profit relies on the day-to-day spare parts management decisions made by your team.
This is an important lesson that every senior manager and CFO must know about spare parts inventory.
While your profit and spare parts management decisions may seem to be quite disconnected, the reality is that the decisions made around your spare parts inventory will have a direct flow on to the company’s ability to implement the promise of its business strategy. And from that the profit that is generated.
Failure to understand these types of ‘rules’ around spare parts inventory leads to both increased risk and increased expenditure on spare parts inventory. Risk and costs that are avoidable. If you know how.
This short video is an edited extract from a live webinar titled: What Every Senior Manager and CFO Must Know About Spare Parts Inventory
Run time: 1 minute 37 seconds
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Posted by: Phillip Slater