Smart Inventory Solutions

Engineers and reliability professionals are increasingly being held accountable for materials and spare parts inventory management and in response they need to gain a better understanding of materials and spare parts inventory management principles and practices. This practical book delivers just that. This new edition will help you get the right parts, in the right place, at the right time, for the right reason. Fully revised, it provides specific coverage of the issues faced in, and requirements for, managing engineering materials and spare parts and what to do to improve your results. It includes 29 exclusive examples and real life case studies to demonstrate the application of the concepts and ideas so that you will easy and quickly understand how to implement them. What's more it will show you: What to do to truly optimize your inventory holdings, Why inventory levels are almost always too high, How to identifying the factors that have greatest impact on your inventory levels, When to apply the 7 Actions for Inventory Reduction, Where to focus your efforts for greatest effect, and Who to involve in taking action. The concepts, ideas, tools, and processes in this book have helped many companies achieve and sustain results that other inventory tools and approaches just could not match. And it is sure to help you achieve true inventory optimization as well! The second edition includes... A new chapter on The Mechanics of Inventory Management, a pragmatic review of the management of inventory including... Introducing the Materials and Inventory Management Cycle, Comparing theoretical and actual inventory outcomes, Discussion on normal and Poisson distribution models, How to determine the re order point, How to determine the re order quantity, and Commentary on Monte Carlo simulation. An expanded chapter on the financial impact of inventory, including a discussion of the key reports that need to be understood. Chapters on the influence of policies, procedures, and people. Additional discussion on issues faced and how to address them. An expansion of the central process discussed in the first edition to a more comprehensive review process...Inventory Process(TM) Optimization. An expanded section on executing an inventory review program. A closing 'where to from here' chapter. 57 figures and diagrams - 30 of them new and the others all revised and updated and six new tables (with 8 in total). Eight new checklists - specifically included as a new tool for the reader and is the result of direct reader requests. An expanded glossary. Introduction to Smart Inventory Solutions The Mechanics of Inventory Management The Financial Impact of Inventory People and Processes. Policies & Procedures Issues, Myths and a Few Home Truths The Spare Parts Storeroom The 7 Actions for Inventory Reduction Inventory Process Optimization Executions: Taking Action to Achieve Results Case Studies Where to From Here? Bibliography Appendix A: Materials and Inventory Management Glossary Appendix B: Data Collection Questions Index

Engineers and reliability professionals are increasingly being held accountable for materials and spare parts inventory management and in response they need to gain a better understanding of materials and spare parts inventory management principles and practices. This practical book delivers just that.

"Smart Inventory Solutions shows you, step-by-step, the process to follow, the mistakes to avoid, and a sure-fire approach that minimizes your workload. In fact, you'll learn how to generate better results from your reduced inventory. This approach is ideal for all 'bought in' inventories such as parts and components, finished goods, OEM spares, MRO inventory, engineering spares and industrial supplies. You'll learn an approach that has been reviewed and adopted by companies such as: a major aluminium miner and processor; a major packaging company; a Korean equipment manufacturer; a steel blast furnace and steel works; an industrial valve and fitting distributor; an international bearing manufacturer and distributor; a pump manufacturer; a consumer plastics company; a scientific instruments developer; a laboratory instrument importer; an industrial chemicals processor; an international beverage company; an international toy manufacturer; and an auto parts distributor." - back cover.

Now thoroughly updated to include advances in technology and thinking, this comprehensive and easy-to-understand resource provides a short review of all the major discussions going on in the management of the maintenance function.

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(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.

Overview Do you want to become a Logistics and/or Inventory Manager? Content - Benchmarking Logistics Performance - Distribution - International Logistics - Controlling Logistics Costs - Logistics Management and Strategy - Software and Technology - Warehouse Management - Inventory Reduction Strategies: Insights from the Pros - Inventory Reduction Strategies: IOMA Readers Report – What Works - Inventory Reduction Strategies: Case Studies of Success - Technology/Computers/Software - Purchasing/Supplier Issues/Vendor Managed Inventory - Audits and Physical Inventory/Accuracy - Benchmarks - New Inventory Management Products, Services, and Ideas - Best Inventory Management Tips - E-Purchasing/E-Supply Chain etc. Duration 6 months Assessment The assessment will take place on the basis of one assignment at the end of the course. Tell us when you feel ready to take the exam and we’ll send you the assignment questions. ​​​​​​​ Study material The study material will be provided in separate files by email / download link.

This handbook brings together technical expertise, conceptual background, applications, and societal aspects of Industry 4.0: the evolution of automation and data exchange in fabrication technologies, materials processing, and device manufacturing at both experimental and theoretical model scales. The book assembles all the aspects of Industry 4.0, starting from the emergence of the concept to the consequences of its progression. Drawing on expert contributors from around the world, the volume details the technologies that sparked the fourth revolution and illustrates their characteristics, potential, and methods of use in the industrial and societal domains. In addition, important topics such as ethics, privacy and security are considered in a reality where all data is shared and saved remotely. The collection of contribution serve a very broad audience working in the fields of science and engineering, chemical engineering, materials science, nanotechnology, energy, environment, green chemistry, sustainability, electrical and electronic engineering, solid-state physics, surface science, aerosol technology, chemistry, colloid science, device engineering, and computer technology. This handbook ideal reference libraries in universities and industrial institutions, government and independent institutes, individual research groups and scientists.

Practical, easy-to-implement advice on the most successful logistics management techniques being used today--from selecting the best carriers, setting logistics performance goals, and planning logistics strategies, to streamlining shipping and receiving and slashing logistics costs, and negotiating and managing third party logistics service providers.