Inventory Planning Blog

Aftermarket Service Parts Planning Concepts Pt. 1

Posted on Tue, Oct 06,2020@06:45 AM

stamp-114438_1920Aftermarket service or spare parts inventory management is a prime candidate for advanced inventory planning software. With many diverse parts to manage and a lack of power tools, most companies with parts inventories have too many of the wrong parts. The result is unnecessary inventory expense, while still suffering service-limiting stock-outs.

Manual efforts to improve this situation fail, because of the time-intensive nature of the problem. A large number of parts, each with special considerations, quickly bog down someone trying to improve the parts purchases.

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Tags: inventory optimization, SPARE PARTS INVENTORY PLANNING

Inventory Life Cycle for Parts

Posted on Tue, Jul 09,2019@12:04 PM

Previously, we discussed the different industries, uses and planning of parts. Today, the OEM replacement of parts is happening at an ever-increasing rate as technology allows for improvements in performance and longevity.
The graphic below shows the important milestones in a part’s life cycle. These have an impact on inventory planning for each item. This section examines how those milestones impact parts planning.

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Spare & Service Parts Inventory Planning Software

Posted on Tue, Jun 04,2019@11:34 AM

Inventory planning for aftermarket and OEM parts require appropriate skill sets and knowledge of the industry, markets and the customers. Advanced inventory planning software is critical to successful manage parts and meet tough customer demands and timing. 

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Synchronized Inventory Planning

Posted on Mon, Oct 05,2015@09:30 AM

Economies and subsequent demand for products is constantly changing and evolving . However, not all aspects of technology are moving as fast as these changes. One prime example is how inventory replenishment needs are calculated. Yes, there are dozens and even hundreds of applications and processes for all types of planning needs. These include: 
  • MRP for manufacturing
  • DRP for Distribution
  • Promotional Planning for Retail
  • Parts planning for MRO and Aftermarket Service Parts 

Individually, these solutions may do a good job of managing a specific inventory need but today businesses have morphed into multi-faceted, multi-customer facing companies. At the start or top is manufacturing, which feeds all other outlets like distribution and retail.

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