It is not widely recognized that MRO and spare parts inventory is fundamentally different to other inventory types. As a result, companies continue to apply standard inventory management techniques to their spare parts inventory and end up with significant over-stocking of parts that don’t move and costly stockouts for those that do. In short, this approach costs them big bucks through both excessive and unnecessary inventory spend or extended downtime, or both.
Beware the Trap of Generic Solutions
Companies that do recognize this difference and modify their inventory management accordingly actually achieve the multiple benefits of increased availability, reduced inventory holdings and lasting results. This is because once you recognize the trap of applying generic solutions to a specialist problem, you stop wasting time and money on generic solutions.
The first step is to understand why treating spare parts as ‘just another inventory’ costs you big bucks.
Free 30 Minute Webcast
Yes, this is a 30 minute webcast (and who has that much time, right?) but…
…it might just be the best way for you to spend 30 minutes today. Especially, if you have concerns with your spare parts inventory management.
This webinar is not a marketing spiel or light weight fluff. In this webcast Phillip Slater, author of Smart Inventory Solutions and Founder of SparePartsKnowHow.com explains why spare parts are different and just how much it is costing you.
This webcast you will learn:
- At least 8 ways in which spare parts inventory is different to other inventories
- Why standard tools and techniques just don’t work with this inventory (and which ones)
- The costs of applying these tools and techniques (and it’s not just in inventory)
- How corporate training programs inadvertently reinforce this problem
Register for Access
The video of this webinar is protected. For those who are not Members at SparePartsKnowHow.com, to watch the video please register your details below and, after clicking on a confirmation email, we will then send you a link to the video page.
In addition, every month we will provide you with awesome new articles that will help make you spare parts inventory management even more effective and efficient.