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! Features 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.

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.

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.

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.

Covering stocking theory and practice, this compilation of the best techniques and practices for optimizing MRO inventory offers numerous case studies showing the best--and the not-so-best--ways to improve plant inventory performance. Based on practical solutions to everyday inventory problems, it uses simple but useful metrics for setting and monitoring 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.

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.

By enabling the conversion of traditional manufacturing systems into contemporary digitalized ones, Internet of Things (IoT) adoption in manufacturing creates huge economic prospects through reshaping industries. Modern businesses can more readily implement new data-driven strategies and deal with the pressure of international competition thanks to Industrial IoT. But as the use of IoT grows, the amount of created data rises, turning industrial data into Industrial Big Data. Internet of Things and Big Data Analytics-Based Manufacturing shows how Industrial Big Data can be produced as a result of IoT usage in manufacturing, considering sensing systems and mobile devices. Different IoT applications that have been developed are demonstrated and it is shown how genuine industrial data can be produced, leading to Industrial Big Data. This book is organized into four sections discussing IoT and technology, the future of Big Data, algorithms, and case studies demonstrating the use of IoT and Big Data in a variety of industries, including automation, industrial manufacturing, and healthcare. This reference title brings all related technologies into a single source so that researchers, undergraduate and postgraduate students, academicians, and those in the industry can easily understand the topic and further their knowledge.

2012 International Conference of Intelligence Computation and Evolutionary Computation (ICEC 2012) is held on July 7, 2012 in Wuhan, China. This conference is sponsored by Information Technology & Industrial Engineering Research Center. ICEC 2012 is a forum for presentation of new research results of intelligent computation and evolutionary computation. Cross-fertilization of intelligent computation, evolutionary computation, evolvable hardware and newly emerging technologies is strongly encouraged. The forum aims to bring together researchers, developers, and users from around the world in both industry and academia for sharing state-of-art results, for exploring new areas of research and development, and to discuss emerging issues facing intelligent computation and evolutionary computation.