Subject: Friend, don't apply 'retail inventory theory' to manage spare parts

Insider Tip of the Week
Hi Friend,

Are you struggling with excess inventory but still don't have enough of what you need?

Are you aware that spare parts inventory has specific characteristics that differentiate it from other inventory types?

Then you may have not have realized that 'standard' inventory management techniques don't work very well with spare parts inventory.

This week's Insider Tip of the Week identifies 8 ways in which spare parts are different to other inventory types and what this means when managing your spare parts inventory.

Here is our tip:

Don't apply 'retail inventory theory' to manage spare parts 
held for maintenance and operations support. 



Or use this link https://bit.ly/32gHElr
Keep on improving!

Phillip Slater

Spare Parts Inventory Management Specialist
Founder, SparePartsKnowHow
The Spare Parts Alliance
This Insider Tip of the Week is made possible with the support of our Spare Parts Alliance members.
A leader in the provision of procurement services. Helping companies manage the complex activities of MRO procurement and logistics.
http://bit.ly/v-linegroup
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
NRI Industrial specializes in the management and sales of surplus spare parts. They provide solutions to recover value from overstock, surplus and obsolete inventory. 
https://bit.ly/NRISolutions
Provides comprehensive education programs in reliability and maintenance practice.
Based at the University of Tennessee, Knoxville.
http://bit.ly/RMICUT
Spare Parts Management Specialist and Consultant.
Author of Spare Parts Inventory Management and Founder of SparePartsKnowHow
http://bit.ly/phillipslater
Spare Parts Inventory Management Training, Resources, and Coaching for Individuals and Teams. Improve your spare parts management know-how.
Initiate Action Pty Ltd, P.O Box 628, 3039, Moonee Ponds, Australia
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