| Issue #209
Hi Friend,
Companies that operate without appropriate spare parts inventory management metrics are clearly operating with ‘knowledge of a meagre and unsatisfactory kind’ but is the use of metrics enough to ensure that you know more than just ‘something’ about your inventory?
This is the key question addressed by the most recent post at SparePartsKnowHow.com.
Titled Spare Parts Inventory Metrics, the post explores identifying acceptable targets for spare parts inventory management and the herd behavior that can lead to under-performance.
Also recently added is a post titled, Spare Parts Inventory Decision Making – Separating Emotion from Logic.
This post discusses the implications of emotional spare parts inventory decision making.
See links to other recent articles at the bottom of this page.
Upcoming Webinar For a little while now i have been promoting a webinar that I am holding with my friends at Smart Software. Well, time is running out to register because the webinar is next week.
Oh, and there is of course no charge. This webinar is open to everyone - you don't need to be a SparePartsKnowHow member to attend.
The webinar is titled Intermittent Demand and Spare Parts: Why Forecasting Doesn’t Work … And What to Do About It
By attending the webinar you will learn:
1. What is intermittent demand and why is it so hard to forecast;
2. Why traditional forecasting methods and rule of thumb approaches fail;
3. What is Probabilistic Modeling and how does it improves Spare Parts planning.
I will moderate the session and you will hear from genuine world leaders in probabilistic forecasting.
You can learn more plus register by following this link
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