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.

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