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What is Spare Part Inventory Management Strategy about?

The document discusses a proposed inventory management strategy for a manufacturing company, ExBuzz Fire & Security Pvt. Ltd., to address challenges in obtaining a critical spare part. The strategy involves forecasting demand, implementing a reordering process, using a hybrid JIT/EOQ system, determining safety stock and reorder points, and continuously monitoring performance. The goal is to minimize costs and stockouts while meeting demand for the complex, high-cost spare part.

Author

parth limbachiya

Language

EN