| Latest Articles and Videos
What is a Spare Parts Numbering System?
A spare parts numbering system is a way to differentiate items within your spare parts inventory without constantly referring to long descriptions. It is short-cut for spare parts identification.
This article and video addresses the need for a 'system' and the differences between 'intelligent' and 'dumb' systems.
For SparePartsKnowHow.com members there is an extended version of the article that is downloadable as a PDF file.
7 Things That Every Senior Manager and CFO Should Know About Spare Parts Management - Part 6
Continuing our series on the C-Suite issues that impact spare parts inventory management. This article explains that 36% of working capital spent on spare parts is wasted. (Yes, really 36%!) We then identify 6 preventable ways that this money is wasted and this leads to the real problem with spare parts management.
Spare Parts Inventory Data Governance and Cleansing
No matter how well the spare parts identification system is set up, without an appropriate spare parts inventory data governance structure and process, the information that you have will lose integrity.
Whatever the reason, your organization is very likely to invest in its materials data and data management systems at some point, and while the payback is big, it can be a significant, resource-draining project, and it is very easy to get wrong. This article identifies the key decisions that will enable you to make sure that your newly cleaned data stays clean.
The post also includes a short video that explains the key points.
The Key Elements of a Spare Parts Management System
This article is an extract from the new book, Spare Parts Inventory Management. The article explains what a spare parts management system is and, importantly, what it is not!
This post also includes a short video that explains the key points.
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