Subject: How to Avoid Acronym Confusion

How to Avoid Acronym Confusion
Issue #177

Hi Friend,

Wow, doesn't time fly!
The past couple of months have been extraordinarily busy for me and time just gets away from you.
At a personal level I moved house. After 20 years in the old house my wife and I decided that it was time to downsize and we sold up and moved. Clearing out all the old stuff and prioritizing for a smaller house meant applying the discipline I talk to companies about when deciding which spares to hold. I think that this will become a future article.

And just to increase the degree of difficulty, we moved our office.

In addition, I have been working with my publisher to finish my new book. The book explores the issues faced during the entire spare parts inventory management life cycle - from setting up a spare parts management system, deciding what to stock, managing the inventory, and through to obsolescence and disposal. More on that in coming weeks.

Plus, we completely overhauled the SparePartsKnowHow.com website! 
Oh, and we developed a new acronym and abbreviations cheat sheet. Phew!

Each of these is explained further below (well, not the moves or the new book - my publisher insists that I wait!).

You might also be interested in a new term I have coined - Sparesology.
If you are engaged in spare parts inventory management then you are most definitely involved in sparesology. Read the full definition here:

http://sparepartsknowhow.com/sparesology-definition/

Keep on improving!

Phillip Slater
Founder, SparePartsKnowHow.com

Better Spare Parst Management Starts Here
Spare Parts Inventory Management Tip #4
History is not a reliable indicator of future spare parts usage.
SparePartsKnowHow.com is Supported By:

sparesFinder: helps companies solve materials data challenges and provides the tools needed to deliver significant savings beyond data cleaning.

The Reliability & Maintainability Center (RMC) at the University of Tennessee, Knoxville, provides comprehensive education programs in reliability and maintenance practice.
New Online Resources Library

Our online resources library has been completely overhauled.
It is now segmented in to five areas - four are part of the spare parts inventory management life cycle and the fifth focuses on implementation and change management. The five segments are:
  1. The Spare Parts Management System
  2. Create and Stock
  3. Operations
  4. Obsolescence and Disposal
  5. Implementation and Change Management
These are explained in greater detail at the Online Resources Library home page.
http://sparepartsknowhow.com/spare-parts-management-online-library-home-page/

Plus, we have grouped the content by topic rather than media. This means that if you are looking for content on say determining the ROP then the videos and articles will all be together in one place. This makes it simpler and easier to find the content that you want.

How to Avoid Acronym Confusion
What happens when one person uses spare parts inventory management acronyms and abbreviations and another person either doesn’t know what is meant, or worse they think that it means something different?

Wasted time and expensive mistakes.

To help you through this minefield we have created a ‘cheat sheet’ listing some of the most common spare parts inventory management acronyms and abbreviations and their meaning. This is free to everyone.
Initiate Action Pty Ltd, P.O Box 628, 3039, Moonee Ponds, Australia
You may unsubscribe or change your contact details at any time.

    This is an online snapshot of a newsletter created by the owner of SparePartsKnowHow.com Subscriber (Initiate Action Pty Ltd, P.O Box 628, 3039 Moonee Ponds, Australia) and sent via GetResponse on 2016-10-04. Report abuse