Unshrouding the mystery of rarely-used parts: How to avoid shutdown and cost overruns due to parts availability
Storerooms everywhere are lacking certain critical parts while other parts are overstocked – and getting the mix right in today’s environment of supply shortages is even more challenging than it used to be. The risk, of course, is that a rarely-used yet critical part may not be available to get equipment back online, or that getting it in quickly will incur significant costs. So how do you decide which parts to stock, at what cost, how far in advance? And whose responsibility is it? With good data around lead time, usage, and a few other points, you can optimize inventory for most parts. However, rarely-used parts often don’t have good data available, and many organizations are left guessing at how they should be stocked.
James Kovacevic, Principal Instructor, Eruditio
James Kovacevic is a passionate and driven Asset Management Professional who is based in Windsor, Ontario, Canada. Throughout the span of over a decade, he has gained extensive hands-on expertise in all things maintenance, reliability, and asset management. Currently, James serves as Principal Instructor at Eruditio. Previously, he founded HP Reliability, where he is infinitely dedicated to helping manufacturers attain maximum profitability, all while ensuring quality jobs and thriving communities. Ultimately, he consistently strives to revolutionize and streamline the industry in every way possible. James is also the Host of the Rooted In Reliability Podcast. Prior to his present ventures, James held various leadership roles, including the Asset Care Manager of Diageo, Maintenance Manager of RS Technologies, the Maintenance Supervisor of Global Composite Manufacturing, and numerous more.
As an avid student of life, James makes it a point to always learn new things and hone his skills. He even assists other professionals in improving their skill sets through strategic mentorship. Furthermore, James Kovacevic holds a multitude of certifications, including Certified Maintenance & Reliability Professional (CMRP), Maintenance Management Professional (MMP), and Certified Asset Management Assessor (CAMA). He also studied business and commerce in-depth at St. Clair College.
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Original session held on July 21, 2021