Production Spare Parts: Optimizing the MRO Inventory Asset - Hardcover

Moncrief, Eugene C.

Hardcover

ISBN 10: 0831132280 ISBN 13: 9780831132286

Publisher: Industrial Press, Inc., 2005

Synopsis

As leading authorities worldwide on setting part stocking levels for safety stocks to support the production process, the authors have shown that between 25 and 50 percent of the inventory investment is not necessary. Thus the overall objective of this book is to instruct readers in how to optimize their company’s spare parts asset. This compilation of the best techniques and practices for optimizing MRO inventory offers numerous case studies showing the best and not so good 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.

Features  

• Covers stocking theory and practice.
• Uses the Pareto Principal throughout as the best way to achieve superior results with a minimum of investment of time by plant personnel.
• Includes the following topics: the risks inherent in setting inventory stocking levels, setting the reorder point, setting the reorder quantity, determining excess inventory, how to avoid unnecessary purchases of spares, and how to set and monitor goals for inventory improvement.  

About this title

About the Author

Eugene Moncrief  has a degree in Chemical Engineering and has taught at the University of Virginia. 

Edition details

• Publisher: Industrial Press, Inc.
• Publication date: 2005
• Language: English
• ISBN 10: 0831132280
• ISBN 13: 9780831132286
• Binding: Hardcover
• Number of pages: 350