Subject: Spare Parts: Deciding What to Stock

Spare Parts: Deciding What to Stock
Hi Friend,

I hope that you are staying safe during the current global pandemic.

This month's theme has been: Deciding What to Stock

Deciding what to stock, and how many, is the fundamental question for inventory management. This is the core activity that determines availability, overstocks, and ultimately obsolescence.

The feature article for this edition is: Questioning the Purpose of Holding Spare Parts Inventory
This article explains a technique for evaluating decision-making. Not only will this force the clarification of thinking, but it can also save you lots of time and money chasing actions that won’t deliver your desired outcomes.

This feature video is: The Spare Parts Management Planning Horizon
The spare parts management planning horizon is the time between when you know that you’re going to need the part and when you can get the part available for use. The video explains.

Scroll down for the links.

*******************

Reducing Recovery Risk With Supply Chain Simulation

The CEO of Right Sized Inventory, Michael Worden, provided us with a guest post at SparePartsKnowHow this month. 

In this article Michael discusses the impact of the current global crisis on supply chains, the way that current 'replenishment signals' may now be misleading, and how companies can reduce their risk and enhance their responsiveness.

If you didn't see it already, this is an article that you will really want to read.
Here is a link.

*******************

For the month of April, as a service to our community, we provided our Basics of Spare Parts Management Course free of charge.

No credit card required. No charges. No catches.

THIS OFFER EXPIRES IN A FEW DAYS!.

You can click here to learn more and to register bit.ly/BasicsCourseFOC 

Stay safe. Wash your hands.
Keep on improving!

Phillip Slater
Founder, SparePartsKnowHow

Demystifying Spare Parts Inventory Management
The Spare Parts Alliance
Connecting you to suppliers that you can trust.
A leader in the provision of procurement services. Helping companies manage the complex activities of MRO procurement and logistics.
http://bit.ly/v-linegroup
Spare Parts Management Specialist and Consultant.
Author of Spare Parts Inventory Management and Founder of SparePartsKnowHow
http://bit.ly/phillipslater
Provides comprehensive education programs in reliability and maintenance practice.
Based at the University of Tennessee, Knoxville.
http://bit.ly/RMICUT
Right Sized Inventory uses patented inventory-optimization predictive analytics technology to analyze your supply chain and establish best target inventory levels. http://bit.ly/RSI_SPKH
Feature Article: Questioning the Purpose of Holding Spare Parts Inventory

This article explains a technique for evaluating decision-making. 

Read the article here >>https://bit.ly/SPKH_Purpose
Feature Training: Team Training Delivers 3X Results

Our direct experience is that companies that formally train teams in spare parts management achieve 3X the result of those that don’t.

Learn more >> http://bit.ly/SPKHTeamTraining
Vendor Directory: Spare Parts Management Training, Software, Procurement, and Services

If you need to identify suppliers of spare parts management training, products, procurement, software, and services then please visit our Vendor Directory. 

Review the directory here >> http://bit.ly/VendorD
Feature Video: The Spare Parts Management Planning Horizon

This 2 Minute tutorial warns of a potential pitfall with the use of ERP software to determine the spare parts ReOrder Point (ROP).

Watch here >> https://bit.ly/PlanningHorizon
Initiate Action Pty Ltd, P.O Box 628, 3039, Moonee Ponds, Australia
You may unsubscribe or change your contact details at any time.

    This is an online snapshot of a newsletter created by the owner of SparePartsKnowHow.com Subscriber (Initiate Action Pty Ltd, P.O Box 628, 3039 Moonee Ponds, Australia) and sent via GetResponse on 2020-04-28. Report abuse