Spare parts forecasting and inventory optimization
High investments and low rotations. That is how many finance executives describe spare parts. You buy them, you store them for years and maybe, one day, you are happy to have them.
Spare parts are among the most complex items to manage. Most of them are used so rarely that it is hard to guess how many you really need. Some of them are so expensive that they represent a fortune on your balance sheet. In the end, they might never get used at all. But when should you write them off?
Spare parts are also very important. You cannot afford stopping an equipment, just because you do not have the spare part. Or you committed to customers that you would be able to repair their products. Maybe you are even legally obliged to do so?
Good spare parts management requires a smart combination of forecasting and inventory management.
In this webinar, Luc Baetens, Supply Chain Planning Expert at Möbius will share his experience of more than 15 years of inventory planning and forecasting. Some of the questions he will answer:
How to use product segmentation to choose the best forecasting and inventory strategy for each part number?
How to use the most relevant forecasting techniques to estimate part utilization? Or shouldn’t we use forecasting at all?
How to decide how much inventory to keep? And where?
Looking forward to your participation!