Are You Serious About Inventory Optimization?

With 2012 now well underway by now you should have your goals for the year well defined.  (If you still haven't worked out your goals then refer back to our December item: Questions To Focus Your Inventory Optimization.)

Assuming that you have worked on your goals, then there is just one more question to ask: Are you serious?

• Are you serious about making a real difference to your spare parts management this year?
• Are you serious about improving spare parts availability?
• Are you serious about reducing obsolescence?
• Are you serious about reducing overstocks?
• Are you serious about getting your policies and processes in shape?

This is an important question because if you aren't really serious then why start?  If you are not prepared to commit the time, energy, and resources required to achieve the goal then my advice is: don't start.  Take the time, energy, and resources that you have and direct them towards something that you are serious about.

At this time of year it is easy to fall into the trap of setting too many goals and even sometimes setting unrealistic goals.  If you are just going through the motions, or just trying to 'tick the box' then it is unlikely that you will achieve anything of lasting value and most likely will waste the opportunity that 2012 presents.

So, maybe for 2012, one of your New Year resolutions should be: if you are not serious then don’t start, do something else.

And, by the way, you can apply this to everything in your life, not just spare parts management.

If you are serious then visit our online resource center at www.SparePartsKnowHow.com

Take a Step Back to Identify Inventory Improvements

During a recent vacation break at the Surf Coast of Victoria, Australia, Phillip Slater discusses how taking a step back from day-to-day operations can give you the perspective to identify improvements in your inventory management.

For more resources on inventory management please visit http://www.SparePartsKnowHow.com

Monitoring and Adjusting Stock Levels

During a recent trip to KL, Phillip Slater visited the Petronas Towers and here discusses the need to monitor and adjust settings for the holding levels of spare parts based on market rather than demand constraints.

For more resources on inventory management please visit http://www.SparePartsKnowHow.com

Are You Reinventing the Wheel?

During a recent trip to Scotland, Phillip Slater participated in a three day asset management course and was confronted with the dilemma of one participant that lamented 're-inventing the wheel' every five years.

For more resources on inventory management please visit http://www.SparePartsKnowHow.com