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Hi Friend,
One question that people ask me regularly is: how do we simply calculate the ROP for spare parts when our data is inadequate or unreliable?
Well, now we have a way to do just that!
At SparePartsKnowHow.com we have created an online calculator that approximates the required statistics based on some easy-to-identify indicators. For the user this means that you just need some basic information to guide your decision making.
 Importantly, we also take into account the ‘one off’ requirements that might arise from normal maintenance activity. This ensures that the ‘trap of averages’ doesn’t catch you out.
Also, this simple approximation approach enables you to easily and quickly apply a ‘what-if’ analysis to determine holding requirements under different scenarios. For example, what-if the lead time is longer, what-if you decide that the part is more critical, what-if usage is more volatile than you think. Just plug in the values and compare results!
This is common-sense decision making integrated into an analytical decision model.
Premium and Corporate Members can access the calculator from the Inventory Management and Optimization page or by following this link http://goo.gl/lF2F5
Basic Members gain access by upgrading their memberships at http://sparepartsknowhow.com/premium-membership/
Keep on improving!
Phillip Slater
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P.S Feel free to share this email with your colleagues
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