OverviewNo 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 (TM) 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
(R) 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 human factors (trust) offers no-nonsense
techniques for applying data-based decision making in the
establishment of a robust spare parts inventory management system.
It combines content you might find in several different texts into
a well-organized and easy to use reference that deals with
everything from clean sheet design of a system to best practices
and continual improvement for mature systems. Spare Parts Inventory
Management: A Complete Guide to Sparesology (R) is a fantastic
guide for anyone interested in having a successful spare parts
inventory management system." -Marnie Schmidt, Author of Tribal
Knowledge: The Practical Use of ISO, Lean and Six Sigma Together.
www.marnieschmidt.com"It's like Phillip is coaching you one-on-one.
He addresses the full life cycle of spares, clearly shows the
unique nature of spare parts management, and provides practical
guidance on critical policies and best practices. Spare Parts
Inventory Management: A Complete Guide to Sparesology (R) belongs
on the shelf of every spare parts organization. I definitely would
recommend it to my clients and students. Phillip Slater's latest
book continues his unique and engaging writing style. He draws on
his decades of experience in spare parts management and delivers a
book that is pleasantly conversational, as if I am sitting across
the table from him, and he is coaching me one-on-one. This book is
also unique as it addresses the full life cycle of spares, from
initial requirements forecasting through to use and final disposal.
The author clearly shows the unique nature of spare parts
management versus other types of inventory - distinctions that
require different considerations in planning and control. In easy
to understand terms, he dispels the myths associated with spares
and provides practical guidance on critical spare parts policies
and best practices that favorably impact the bottom line. Spare
Parts Inventory Management: A Complete Guide to Sparesology (R) is
practitioner oriented and belongs on the shelf in every spare parts
organization. I definitely would recommend it to my clients and
students." -Dr. A. Patricia Murrin, A.P. Murrin and Associates;
Supply Chain Management Department Chair, The National Graduate
School of Quality Management; Adjunct Faculty, Walden University;
Adjunct Faculty, Northwood University. You can find her on
LinkedIn. "Slater sticks with proven systems and best practices
born out of real-world experience. As timely as it is useful, Spare
Parts Inventory Management: A Complete Guide to Sparesology (R) is
a 'dirt under the nails' guide that translates just as well in the
boardroom as in the parts storage cribs. Many organizations don't
understand the need to manage spare parts until something affects
the bottom line, then it is 'all hands on deck.' That is where
Phillip Slater's new book comes in. As timely as it is useful,
Spare Parts Inventory Management: A Complete Guide to Sparesology
(R) is the natural addition to the author's earlier publications.
Slater has a gift for making unfamiliar subjects seem less
intimidating. He sticks with proven systems and best practices born
out of real-world experience. Such is the case with this latest
book, wherein he lays out the need for properly addressing
industrial spare parts and the steps to thoughtfully controlling
the processes and procedures to manage them. He outlines four
key-aspects to his approach. Each one is equally important and
applicable to any size organization in any industry. You will find,
as I did, that Slater tackles the big problems with attention to
detail, without getting into the mind-numbing minutia of how things
could be done. Along with the high-level concepts, he gives
specific guidance for addressing each aspect of spare parts
management. He effectively empowers the reader to dismiss the
perception of the need for 'just in case' spare parts. Without
glossing over anything, he brings the reader to an understanding of
not only what to do, but also 'why' we do these things. Leaving
buzzwords and ethereal concepts aside, this is a 'dirt under the
nails' guide that translates just as well in the boardroom as in
the parts storage cribs." -Russ Thompson, M3 ERP Functional
Consultant, Avaap USA (www.avaap.com). You can find him on
LinkedIn. "With a clear, easy to read style, this book provides a
whole vision for the spare parts management problem, applying
engineering questioning and avoiding the most widely accepted
methods to obtain the best solution, measured financially, for
every spare parts inventory situation. Spare Parts Inventory
Management: A Complete Guide to Sparesology (R) is a great follow
up to Slater's previous books. With a clear, easy to read, style,
Spare Parts Inventory Management: A Complete Guide to Sparesology
(R) charts the key lessons and synthesizes the key ideas to
consider for every part of a spare parts optimization process. The
book provides best practices, plus charts and matrices that are
valuable aids and transform the book into a road map. The author
insists that the lack of a consistent spare parts policy is a major
problem in most companies and proposes a practical approach,
including financial considerations, and how to use a language that
your CEO will understand. This book covers all phases of the spare
parts management life cycle, from the creation of the stock to the
disposal of non-used parts. It provides a whole vision for the
spare parts management problem to help analyze pros and cons, and
understand the consequences of every decision. A highlight is the
part about obsolescence and disposal, a phase that is not usually
analyzed. Based on my experience, the main problem with most spare
parts management is the use of ad hoc and emotional principles that
are unable to ensure the right results. Slater proposes applying
engineering questioning and avoiding the most widely accepted
methods to obtain the best solution, measured financially, for
every spare parts inventory situation. This is a great follow up to
his previous books." -Jorge Asiain, Senior Consultant AlterEvo
(www.alterevo.es); Lecturer of Mechanical Engineering, Universidad
Europea. You can find him on LinkedIn. "Phillip Slater is a true
expert who brings the issues involved in spare parts inventory
management to the public attention constantly. A complete, clear,
well supported, and practically applicable guide, Spare Parts
Inventory Management: A Complete Guide to Sparesology (R) is a
must-read for those who decide on spare parts inventories. The
general problem with spare parts inventory management is that it is
regarded and thus approached as just another 'general' inventory
challenge. And while the market is full of inventory management
professionals, training, courses, and so on, only a few address the
complexities that make spare parts inventory management a totally
different reality. Among these, Phillip Slater is a true expert who
brings the issues involved in spare parts inventory management to
the public attention constantly. His newest book is a complete,
clear, well supported, and practically applicable guide. Spanning
the different disciplines in a company, including engineering,
planning, procurement, and finance, it focuses on minimizing
downtime and cost. I really like the numerous lists of questions
that help practitioners decide which and how many spare parts to
stock. For instance, the chapter on inventory optimization presents
five questions for examining the requirements for spare parts, the
consequences of non-availability, and the predictability of demand.
The answers help in determining stock-holding requirements as well
as contingency needs. Another useful section, 'The Seven Actions
for Inventory Reduction,' provides solutions for reducing
inventories without compromising parts availability. Spare Parts
Inventory Management: A Complete Guide to Sparesology (R) is a
must-read for those who decide on spare parts inventories." -Jurgen
Donders, Partner, Gordian Logistic Experts, www.gordian.nl. "Spare
Parts Inventory Management: A Complete Guide to Sparesology (R)
should be your 'go to' book for spare parts management success.
Thanks to this book, my job Is now made easier. Phillip Slater has
put together one of the best guides to inventory management you
will find. Spare Parts Inventory Management: A Complete Guide to
Sparesolgy (R) is a systematic compilation that has everything you
need for success in inventory management. Having identified common
mistakes and misconceptions about inventory management, Slater
carefully takes his time itemizing the avoidable traps and
discussing inventory management policies, results of applicable
research, and best practices. He guides you through the foundation
of inventory management, including the requirements for stocking,
how to decided what to stock, and when and how. He also addresses
the dreaded and most hated word in spare parts management:
obsolescence. To all inventory managers, business owners, inventory
management consultants, maintenance managers, engineering managers,
and CFOs: This should be your 'go to' book for spare parts
management success. Thanks to this book, my job is now made
easier." -Ilyas Ateiza, Stores Manager-Engineering, APM Terminals.
You can find him on LinkedIn.Phillip Slater has more than 22 years
of business improvement experience. While the last 12 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 Assisting other clients to release millions of dollars in
cash from excess inventory For the past five years Phillip has
donated his time as a Non Executive Director for Yooralla, one of
Australia's leading disability service providers.In addition to his
operations improvement consulting work, Phillip is also available
for corporate speaking and training. * 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.
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