The Truth About Inventory Management Theory

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Subject: The Truth About Inventory Management Theory

Hi Friend,

Are you frustrated that your spare parts inventory is over-stocked - leading to excess funds being invested?

Or is it under-stocked - leading to expensive stock outs?

Both?

If your working life is spent expediting orders, creating work arounds, and trying to figure out what went wrong then you need to read and watch this edition's features.

You see, I can almost guarantee that the root cause of the problem is that your company applies the standard rules of inventory management to their spare parts.

AND THIS DOES NOT WORK.

(Was that loud enough?)

To be clear, I am addressing the management of spare parts held by a company for the operational and maintenance support of their own equipment.

The feature article for this edition is: 8 Reasons Why Spare Parts Management is Different.

Different to what? Different to other types of inventory. Read this if you still need convincing that the standard inventory management theory just does not apply here.

This month's feature video is titled: The Truth About Spare Parts Management Theory.

Can you handle the truth?

Watch to find out.

Scroll down for the links.

Coronavirus and Your Spare Parts Supply Chain – What You Should Do Right Now

The COVID-19 (coronavirus) outbreak that started recently in Wuhan China is having a ripple effect across the world.

In a timely and important article we have developed a five-point V.I.R.U.S response plan.

If the coronavirus is likely to impact your spare parts supply chain, here is what you should do right now.

Here is a link: http://bit.ly/VIRUSPlan

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

Sphera's MRO offers a range of connected, cloud-based software solutions that build and maintain accurate, accessible, and reliable spare parts data.

http://bit.ly/SpheraSF

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

Spare parts management specialist and consultant.

Author of Spare Parts Inventory Management and Founder of SparePartsKnowHow

http://bit.ly/phillipslater

Feature Article: 8 Reasons Why Spare Parts management is Different

The cause of most spare parts management problems is the incorrect use of classic supply chain theory, based on the management of retail and fast-moving consumer goods.

Read the article here >> http://bit.ly/8ReasonsArticle

Feature Training: Full Access and Support Program

The most comprehensive and unique spare parts management training available today. Learn more and learn faster with full access and one-to-one coaching support.

Learn more >> http://bit.ly/FullAccessSupport

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 Truth About Spare Parts Inventory Management Theory

The classic saw-tooth diagram is often used as a model for spare parts inventory management theory. But does this represent the reality?

Watch here >> http://bit.ly/2MT_TruthVideo

Initiate Action Pty Ltd, P.O Box 628, 3039, Moonee Ponds, Australia

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Subject: The Truth About Inventory Management Theory