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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 Phillip 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.

Table of Contents

• Ch 1: Establishing Your Spare Parts Management System: What is MRO and Spare Parts?; The #1 Problem with Spare Parts Management; The Big Picture – Putting Spare Parts in Context; Why Spare Parts are Different (than other inventory types); Standard Supply Chain Tools that Don’t Work with (Most) Spare Parts; Financial Considerations; Inventory Prevention; Inventory Management Policies.

• Ch 2: Best Practice Spare Parts Management: Best Practice Research; The Five Best Practices that Make a Real Difference.

• Ch 3: The Spare Parts Management Life Cycle: Creation; Operation; Obsolescence and Disposal.

• Ch 4: Implementing Your Spare Parts Management System: How to Go From a Pilot Program to Productive Execution.

Phillip Slater has more than 25 years of business improvement experience. While the last 15 of these have been spent in operations and management consulting, the first 10 were spent ‘hands on in industry learning by direct experience. It was during this time, and by learning from both his successes and failures, that Phillip developed many of the approaches that his company, Initiate Action, applies today.

Based on his experience, Phillip has authored a number of management books including A New Strategy for Continuous Improvement and Smart Inventory Solutions. Over the course of his career Phillip has worked in at least a dozen countries and across most industries. He presents training courses for APICS, is a member of the Australian Institute of Company Directors and The National Speaker’s Association of Australia. Selected operational improvement achievements include:

• As a manager, taking an underperforming manufacturer to be the profit leader in its group of companies
• Assisting a client to achieve more than 20% in operational cost reduction
• Assisting other clients to achieve tens of millions of dollars of operational improvements
• Assisting a client to achieve a 42% reduction in inventory