Spare Parts Inventory Management

Overview

No previous works have focused on the topic of inventory reduction and optimization to the extent that this one does. Spare Parts Inventory Management: A Complete Guide to Sparesology™ by Philip Slater covers the whole part’s life cycle, from initial purchase to final disposal, and addresses issues throughout, including maintenance, repair, and overhaul (MRO). The author, Phillip Slater, was described in a recent podcast as “truly one of the leaders in the MRO information segment.”

Sparesology is a term coined by Slater to describe the discipline of optimizing the physical, financial, and human resource management processes of spare parts inventory management. Sparesology is much more than just inventory optimization. It involves an understanding of the complete “ecosystem,” within which the spare parts inventory is managed, and seeks to ensure that all of the factors influencing this management work together to achieve an organization’s goals.

“Spare Parts Inventory Management: A Complete Guide to Sparesology® combines content you might find in several different texts into a well-organized and easy to use reference. This is a fantastic guide for anyone interested in having a successful spare parts inventory management system.

Right from the beginning, I knew this would be a good read. Every aspect of spare parts management, cradle-to-grave is addressed. Innovative concepts, such as inventory 'prevention' and 'timing,' are introduced, and matrices translate complex concepts into easily understood visual references.
            To clear the path for success, the author starts the journey by identifying potential landmines that can sink a spare parts inventory management system at its onset. I found the section, 'Five common supply chain techniques that you should not use for spare parts management' particularly insightful.
            A useful discussion addresses perceptions of the financial impact of spare parts. It explores the delicate balance of the key players and their own 'silo' perspectives and agendas, and helps the reader understand the ever-ongoing battle between the thought that spare parts 'cost money' and the idea that downtime is a deadly cost that must be avoided. Examples and simple calculations provide some great guidelines for decision making. As a bonus, the difference between policies and procedures, as well as valuable and specific guidelines for writing both, are included.
            This easy to read guide to understanding the...

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