Spare Parts Know How

Spare Parts Inventory Management Training

  • Log-In
  • Online Training
    • Spare Parts Training Academy
      • Basic Training
      • Advanced Course
      • Team Boot Camp
    • Pro Level
    • 30 Day Program
  • Software and Services
    • Inventory Optimization Decision Support
    • Materials Data Management
    • Excess and Obsolete Spare Parts Disposal
  • Resources
    • Recommended Books
    • Resource Library
  • Contact
  • About
    • Clients
    • Testimonials
    • FAQs
    • Phillip Slater
  • RMIC Certification

The Real Cost of Delayed Action

June 23 spkhadmin

What would you do if you had the chance to save $2M per year with no capital expense and a payback period measured in weeks? Nothing?

Have you ever noticed how much time we all spend considering the costs of taking action and how little time we spend considering the cost of inaction? That is, the cost of delayed action.

Recently I helped a company identify an $11.4M improvement opportunity. This involved reducing their inventory holdings across a number of sites, without negatively impacting their operational performance. If the cost of holding inventory is 20% of the inventory value per year, in this case, the annual savings in holdings costs would be $2.2M, each and every year!

So, what is the impact if you then do nothing and delay the execution of such a project?
— The content below this line is only visible to logged-in members —

 
 
Ready to learn more?Click Here  
 

Filed Under: Continuous Improvement, Inventory Optimization

30 Day Program

Discover the 8 strategies to achieve your spare parts inventory management goals Read more...

Basic Training

Perfect entry level for people new to spare parts management.

Also suitable for those with experience who want to refresh or confirm their expertise. Read more...

Advanced Spare Parts Management Course

For those who need to go deeper and broader.

Ideal if your goal is to update your company’s approach and systems for spare parts management.
Read more...

Pro Level Membership

With access to all our key resources, a Pro Level membership will equip you with the know-how and skills to become a ‘thought leader’ in spare parts inventory management.
Read more...

Online Boot Camp

A live, online, interactive, team-based delivery of our Basic Training course designed to provide your team with a common understanding of the basics of spare parts inventory management. Read more...

Software and Services

At SparePartsKnowHow.com we can help with more than just spare parts management training.

We also have access to software and services that are developed to help with spare parts inventory management.
Read more...

Latest Blog Posts

  • Join Our Discovery Session
  • Will Artificial Intelligence End My Career?
  • Spare Parts Management Habits – Are They Limiting Your Results?
  • Spare Parts Management Master Class
  • Work on your Spare Parts Management Process, Not the Results
  • Email
  • LinkedIn
  • YouTube
Copyright © 2023 IPIAIGHT PTY LTD.