It is almost impossible to be successful in any activity if you don’t fully understand the rules that govern success. By rules, I mean the way different elements of the activity interact and influence each other in order to achieve your goals.
Your maintenance and reliability team will know better than anyone the impact a spare-parts shortage has on the business. No spare often equals no production, so there is sometimes an attitude of "the more the merrier."
Inventory management is one of the most important management disciplines in every company that holds inventory. Inventory can provide the capability to meet a customer need, repair a broken machine, assemble products for sale or just keep production going.
You want to take control of spare parts inventory so you can be confident you have the parts you need, when you need them, without excess expenditure. Here are three steps you can implement to take control of spare parts inventory.
By failing to understand the complexity of spare-parts inventory, companies will experience one or more of the nine symptoms of poor spare parts inventory health.
