Phillip Slater

Spare Parts Inventory Management Specialist

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The Inventory Cash Release® Process & The 7 Actions for Inventory Reduction


A Step-By-Step Process for Inventory Reduction


Inventory Cash Release ProcessThe Inventory Cash Release® Process (ICR®) is a step-by-step approach for inventory optimization that helps companies to safely, selectively, and efficiently reduce their expenditure on materials and spare parts. The process acts as a decision making filter utilizing the 7 Actions for Inventory Reduction.

When there is a large number of inventory items to analyze the Inventory Cash Release Process uses a simple device to reduce the number of items to analyze through considered selection of which items to review.
 


A Different Way to Look at Inventory Optimization


The ICR® process then applies 7 Actions for Inventory Reduction to force your team to look at inventory optimization from many different angles rather than jumping to the first solution that springs to mind. This radically improves your chances of identifying and implementing a viable and lasting solution.

The fundamentals of the Inventory Cash Release Process and the 7 Actions for Inventory Reduction are key elements of our inventory optimization services.
 


Reduce Inventory Without Disrupting Operations or Maintenance


The objective of all spare parts inventory optimization is to reduce inventory without disrupting operations and maintenance. This is achievable with the Inventory Cash Release Process and the 7 Actions for Inventory Reduction. Our experience shows that there are typically sufficient opportunities for genuine, risk-free reduction that you will not need to risk supply to achieve your goals.

Importantly, because of the simple nature of the process your team can apply it either as part of a focused effort for inventory optimization or on a day-by-day basis as an effective tool for inventory prevention, as they make those important stocking and procurement decisions, .

The success of this approach is program can be seen from my testimonials and case studies that show that Phillip Slater outperforms in-house resources by a factor of 3:1

 


Learn more about our Spare Parts Inventory Reduction & Optimization Programs.


 

Books by Phillip Slater

Books by Phillip Slater

Recommended Software and Services


Online Resources, Training, and Support


SparePartsKnowHow.com: The most comprehensive online training resource dedicated to spare parts inventory management. Read more... SPKH

Inventory Optimization Software


Right Sized Inventory uses patented inventory-optimization predictive analytics technology to analyze your supply chain and establish best target inventory levels. Read more...

Asset Recovery


NRI Industrial specializes in the management, marketing and sales of surplus industrial assets. They provide solutions to recover value from overstock, surplus and obsolete inventory. Read more... NRI Industrial

Reliability and Maintenance Education


The Reliability & Maintainability Center (RMC) at the University of Tennessee, Knoxville, provides comprehensive programs of eduction in reliability and maintenance practice. Read more... RMC

Spare Parts Management Consulting


Phillip Slater, Founder of SparePartsKnowHow.com, spare parts inventory management specialist, consultant, guide, and mentor. Read more... Phillip Slater   Learn more about the SPA

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Books by Phillip Slater

Books by Phillip Slater

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