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Hi Friend,
 Best practice. There I said it. Two words that polarize any debate about improving spare parts inventory management. I am sure that you have either heard, read or engaged in one of these debates and know the typical questions: Just what is best practice? Which industry? Which location? What size of organization? Who decides?
Well, at SparePartsKnowHow.com we have decided to do something about best practice and helping companies achieve best practice in spare parts inventory management, so we have:
- Produced a three-part video series on achieving best practice. The videos take you through our simple 5-step process for achieving best practices and then show you how to assess your performance and access the resources to improve your systems and results. This video series is complimentary and available to everyone at http://www.SparePartsKnowHow.com.
- Developed a self-assessment tool to help you to evaluate your current performance against our definitions of best practice. Using this tool you can score and map your performance, identify your strengths and weaknesses, see where you stand on our stages of excellence scale, and then develop your action plan. Importantly, this best practice tool also makes it simple and easy to locate the information you need to improve your systems and performance. Access to this tool is via the Resource Center and is for Premium Subscribers only.
For some readers of this newsletter best practice will be your goal, while others may just want to get better at what they do. It really doesn’t matter where you stand. What matters is that you measure your performance, identify the areas that need improvement, and take action.
Before moving on from this newsletter ask your self these questions: In two years time, where do you want your spare parts inventory management to be and how are you going to get there? Then go straight to SparePartsKnowHow.com and subscribe to the video series on achieving best practice.
Next month we will continue our series on the 7 Actions for Inventory Reduction.
And remember, if you like what I do, don’t keep it a secret.
Keep on improving!
Phillip Slater
Founder, SparePartsKnowHow.com
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