Spare parts inventory optimization is great. It helps companies identify where they are holding too much spare parts inventory and correct those holdings to reflect their expectation of current needs. As a result, they can reduce their working capital and their inventory management costs. Spare parts inventory optimization helps ensure that you hold the right parts, in the right quantity, in the right place and, hopefully, at the right time.
But surely what you really need is not spare parts inventory optimization but spare parts inventory prevention. Optimization happens after you have spent your money while prevention happens before. With health and safety, our approach is always prevention so why not with inventory?