Subject: New Article: The Unspoken Problem with Inventory Optimization


Update & New Article: The Unspoken Problem With Inventory Optimization
Issue #214

Hi Friend,

For those who are not yet full members at SparePartsKnowHow we have some good news.
 
Major changes to our full membership options will make it easier for you to access the training and information you need.
 
Here is the news:
 
1. We no longer apply an automatic renewal. 
Yes, that’s right, we have removed any uncertainty that may be felt over renewals. Now your membership will expire after the designated period. You will not be charged again unless YOU pro-actively decide to renew. Please note that those who are already on an autorenewal plan will remain there until you tell us otherwise.
 
2. We have introduced a new ‘short course’ membership.
We heard that some people just want to complete a single course rather than maintain a 12-month membership. Our new 4-month membership will enable them to do just that. This is sufficient time to complete any of our certificate courses (or more if you really apply yourself!)
 
This new flexibility will make it easier for everyone to get access to the know-how they need to improve their careers and achieve their spare parts management goals. You can get your certificate, get ongoing support, or get both. The choice is yours. 
 

 
New Article: The Unspoken Problem with Inventory Optimization

Inventory optimization is the most sought-after outcome from spare parts inventory projects. Nobody wants to spend more than they need to or have less stock than they need. That makes sense, after all inventory optimization means that you have the right balance of availability and expense. 
 
And that’s all great in theory.
 
The real-world difficulty with inventory optimization is that defining the optimal spare parts inventory level is problematic.  
 
Our latest post discusses the unspoken problem with inventory optimization
 

MRO for Procurement Conference

I mentioned this last week but here is a reminder.
This conference is being organized by Procurement and Supply Australasia (PASA) and will be the pre-eminent MRO and spare parts management event in the Australasian region. The conference will be held in Brisbane, Australia on June 5 & 6 2018.

Not only I will be chairing the conference, I will also be presenting a one day worksop titled, Building a Best in Class MRO Strategy.

This is the only IN-PERSON public event that I intend to present at this year so If you want to attend a public workshop with me then you need to come to this event.

 For conference links (and special discount codes) USE THIS LINK
Keep on improving!

Phillip Slater
Founder, SparePartsKnowHow

Better Spare Parts Management Starts Here!
SparePartsKnowHow Is Supported By:

sparesFinder: the world’s foremost software company for helping businesses with standardizing  enriching, governing, finding, and leveraging their MRO and material master data.

Smart Software whose inventory planning & optimization platform addresses the root causes of excess inventory in a single, easy to use, and scalable environment. This tool extends beyond traditional demand planning and forecasting by leveraging probability modeling and analytics to drive inventory strategy.

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


Contact us if you are also interested in being a supporter of SparePartsKnowHow



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