Smart Inventory Solutions. Phillip Slater
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Smart Inventory Solutions
Improving the Management of
Engineering Materials and Spare Parts
Second Edition
Phillip Slater
Industrial Press Inc.
New York, New York
Library of Congress Cataloging-in-Publication Data
Slater, Phillip.
Smart Inventory Solutions: Improving the Management of Engineering Materials and Spare Parts/ Phillip Slater.
p.cm.
ISBN 978-0-8311-9109-2
1. Inventory Management. 2. Maintenance. I. Title
HD40.S57 2010
658.7’87—dc22
2010049777
Industrial Press, Inc.
989 Avenue of the Americas
New York, NY 10018
Copyright © 2010 by Industrial Press Inc., New York. Printed in the United States of America. All rights reserved. This book, or any parts thereof, may not be reproduced, stored in a retrieval system, or transmitted in any form without the permission of the publisher.
Printed in the United States of America
10 9 8 7 6 5 4 3 2 1
Ask any author about the process of writing a book and I am certain that they will tell you that it is hard work. Researching, writing, and trying to eliminate ambiguity are all more difficult than it might seem. However, hard as it is for the author, it is undoubtedly harder for the family of the author.
By its nature, writing is a solitary pursuit. Add in the constant travel when working with clients and the pressure of deadlines and an author can be become very hard to live with!
For her patience, understanding and turning of the other cheek, I dedicate this book to my darling wife, Mercedes.
Praise for Smart Inventory Solutions, Second Edition
This is a well-written, practical book. Phill Slater speaks from experience, and shows that critical inventory scrutiny will bring real bottom line savings. His message is very relevant to our studies, and I will be recommending this book to our students.
Ray Beebe,
Senior Lecturer,
Postgraduate Programs in Maintenance and Reliability Engineering
Monash University
Phillip Slater is a recognized leader in his field and has developed a proven system for reviewing and rationalizing spares. Smart Inventory Solutions is insightful, practical, and sometimes controversial and I thoroughly recommend this book to anyone that has an interest in reducing their materials and spare parts investment or who just wants to improve their materials and spares parts management.
Steve Turner
PMO Specialist
OMCS International
Smart Inventory Solutions is packed with practical ideas on how to improve management of inventory “The Forgotten Investment!”. The book not only provides enlightening concepts but also a “How to” approach for accomplishing tasks. Philip Slater makes eloquent arguments for the important role that inventory needs to play in today’s competitive environment.
Zahra Jabiri, PhD, MEng, BEng
Adjunct Faculty
Asia Pacific International College
I have worked in the airline industry for many years and lived through the traps that are described herein. Aircraft parts are extraordinarily expensive, so mismanagement of inventory can easily cripple an operation. Phillip presents the philosophy of real inventory optimization in a clear, logical and pragmatic manner, so that everyone in the materials management chain can understand and be part of the process. Following the steps he has detailed will certainly give a continuing competitive advantage to any aircraft operator, which could be the tipping point for flourishing, when others are just surviving in this extremely volatile and cutthroat industry. I wish I had read this book years ago!
Thomas H. Carroll III
Director of Maintenance Technical Services
NetJets® Services
A New Strategy for Continuous Improvement: 10 Steps to Lower Costs and Operational Excellence (Industrial Press, 2006) ISBN 978-0-8311-3320-7
Contents
Praise for Smart Inventory Solutions, Second Edition
Foreword to the Second Edition
Chapter 1 Introduction to Smart Inventory Solutions
Achieving True Inventory Optimization
Inventory: The Forgotten Investment
Inventory Process Optimization™
Management, Reduction, or Optimization?
Chapter 2 The Mechanics of Inventory Management