| Issue #207
Hi Friend,
One of the major issues that impacts spare parts inventory management is dealing with intermittent demand.
How do you plan the right inventory levels when you have intermittent demand, the seemingly random, highly sporadic usage pattern that is especially prevalent with spare parts?
If you are like most spare parts planning organizations, then you typically rely on traditional forecasting approaches, rule of thumb methods, and “planned” maintenance schedules to determine stocking requirements.
You won't be surprised to know that these techniques often fail.
To help you work out what to do, I have organized a webinar with the team at Smart Software.
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 world leaders in probabilistic forecasting.
The webinar is open to everyone and you can learn more plus register by following this link
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