Why Companies Struggle with Spare Parts Inventory Optimization
Spare parts inventory optimization isn’t easy, that’s why companies seek out specialist assistance and advice in order to achieve their goals.
There are three main reasons why companies struggle with achieving their spare parts inventory optimization goals:
- They rely on software, despite their transactional data being incomplete or misleading.
- The don’t invest in capability building, so they operate with frameworks and ideas that are either outdated or just plain wrong.
- They don’t engage the full team that has influence over the result, this limits the opportunity to make meaningful changes that will have a lasting effect.
To address these issues, in 2002 Phillip created the Inventory Cash Release® Process to help teams in asset-intensive industries achieve spare parts inventory optimization. This process is a step-by-step approach that guides the team through the decisions required to optimize their spare parts inventory.
Since then the Inventory Cash Release® Process has been successfully applied in wide range of industries across many countries. The average outcome is a 37% reduction in inventory with continuing savings in procurement spend.
Phillip Slater is the creator of the Inventory Cash Release® Process and a global thought leader in spare parts inventory management.
The author of 9 books, Phillip has helped companies in 35 countries apply the Inventory Cash Release® Process to achieve lasting results in spare parts inventory optimization – reducing costs and increasing spare parts availability.
Whether or not you already use software optimization tools, or have previously worked through a program of spare parts inventory optimization, engaging Phillip Slater to help you apply the Inventory Cash Release® Process will help you to achieve greater savings and sustainable results.
The data is clear: Phillip Slater outperforms other resources by a factor of 3:1
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