The cornerstone of a functional spare parts inventory management system is the development of an appropriate suite of spare parts inventory management policies.
These policies are your ‘playbook’ for decision-making as they provide the framework within which all spare parts management decisions are made.
They are not only the guidelines for spare parts inventory management but the mechanism through which the company communicates its intent, expectations, and requirements across the organization and over time.
Not only will a policy, developed and implemented today, inform today’s personnel; it will also inform future staff when they join the company. Correctly formulated, your policies will guide your organization for years to come, ensuring that your spare parts inventory is maintained at a level appropriate for both operational needs and financial constraints.
SparePartsKnowHow.com provides access to a suite of 8 spare parts management policies
- Management policy
- Spare parts stocking policy
- Repairable items management
- Return to store
- Metrics and reporting
- Spare parts management accountability
- Spare parts inventory reviews
- Spare parts disposal
Access to these policies is open to all Mastery level members via our Online Library
For assistance in policy development please visit Phillip Slater’s website