The management of critical spare parts

Do you understand the costs for inventorying these items?

That is a business risk that is fine if it is known and agreed to by both the equipment maintainers and the operations groups.

If it turns out that you need the part after all, don’t whine about it. Celebrate that you successfully made a difficult decision and move on. You will win some and lose some. This is the mindset you need when managing parts inventories.

Joel Levitt has trained more than 6,000 maintenance leaders from more than 3,000 organizations. Since 1980, he has been the president of Springfield Resources, a management consulting firm that services a variety of clients on a wide range of maintenance issues.

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