Subject: Why Your Spare Parts Metrics Must Tell a Story

Spare Parts Inventory Management Metrics
The Key to Managing Your Inventory
Hi Friend,

Everyone reading this will have no doubt heard the expression, “what gets measured, gets managed” – or something similar. 

The original quote is usually attributed to Peter Drucker’s 1954 book ‘The Practice of Management’. 

Perhaps more interesting is the somewhat lesser-known full quote:

What gets measured gets managed, even when it is pointless to measure and manage it, even if it harms the purpose of the organization to do so.

Drucker wasn’t simply encouraging people to measure their actions and outcomes; he was warning us about the dangers of not being fully aware of the organizational impact of what we were measuring.

The article explores the idea that we may be measuring things that really DON'T MATTER and why the key to managing spare parts inventory is to use a suite of metrics that will tell the story of what happened, not just the point-in-time result.

You can read the full article HERE.
Keep on improving!

Phillip Slater
Founder, SparePartsKnowHow
Spare Parts Management Training Options

SparePartsKnowHow offers both self-directed, individual training and instructor-led, team training.

See which option is right for you HERE.
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 2024-07-03. Report abuse