Main Conference Day One: June 5,2019
Wednesday, June 5th, 2019
Inventory management teams and inventory users (i.e. Maintenance and Reliability) often have difficulty in managing conflicting goals. While the inventory management team is looking to constantly right-size inventory, inventory users are potentially asking for additional inventory to manage risk or emergencies. Using Risk Management at asset level as common dimension for both groups makes it possible to create a Risk Based - Differentiated Inventory Model. Allowing for better alignment by delivering different treatment to inventory spares depending on how critical they are. It also facilitates coordinating changes in inventory spares levels along the Asset Life Cycle.