Smart Inventory Solutions

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 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.

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.

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.

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.

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.

This handbook brings together technical expertise, conceptual background, applications, and societal aspects of Industry 4.0: the evolution of automation and data exchange in fabrication technologies, materials processing, and device manufacturing at both experimental and theoretical model scales. The book assembles all the aspects of Industry 4.0, starting from the emergence of the concept to the consequences of its progression. Drawing on expert contributors from around the world, the volume details the technologies that sparked the fourth revolution and illustrates their characteristics, potential, and methods of use in the industrial and societal domains. In addition, important topics such as ethics, privacy and security are considered in a reality where all data is shared and saved remotely. The collection of contribution serve a very broad audience working in the fields of science and engineering, chemical engineering, materials science, nanotechnology, energy, environment, green chemistry, sustainability, electrical and electronic engineering, solid-state physics, surface science, aerosol technology, chemistry, colloid science, device engineering, and computer technology. This handbook ideal reference libraries in universities and industrial institutions, government and independent institutes, individual research groups and scientists.

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.

Servitization and Physical Asset Management, third edition, was developed to provide a structured source of guidance and reference information on the business opportunities linked to servitization and the management of physical assets. A growing trend in the global economy, servitization focuses on the actual deliverables of an asset from the perspective of the customer: electricity instead of the power plant, thrust instead of the engine, mobility instead of a plane or a car. The book offers high-level overviews of how to servitized and manage assets from a variety of perspectives, reviewing nearly 1,500 books, magazine articles, papers and presentations and websites. Written by Michael J. Provost, Ph.D., and a subject matter expert in modeling, simulation, analysis and condition monitoring, Servitization and Physical Asset Management, third edition, is an invaluable reference to those considering providing asset management services for the products they design and manufacture. It is also meant to support middle management wishing to know what needs to be done to look after the assets they are responsible for and who to approach for help, and academics doing research in this field. Michael Provost, is a British engineer with a doctoral degree in thermal power from Cranfield University.

This book will help individuals and organizations, institutions who are highly committed, tenacious and resilient self-starter and are able to quickly understand a client’s needs to enable and organize resources to satisfy the requirements in a easy and prompt way. On a personal level, this book is open to any situations that is challenging and which tests abilities with work colleagues. The reader could develop a reputation as being a fast learner, who is independent, organized still a computer savvy. While doing my Ph.D. on the subject of Inventory Management, I had to run from post to pillar to get reference books on the Inventory Management at the front desk of any book shop. Online shopping of books on the subject matter were so dearer while the activities covered under the basic thumb rule of this topic was very indispensable for any organization or for any group of people to do any activity having some purpose to achieve. While going through the learning phase of my updating of knowledge, I felt a very hard necessity to bring upon some simple way of explaining the hardest subject, which though we do but does not know the importance and reasoning of why and what of our duties and responsibilities. Through this book, I share with you my take on “INVENTORY MANAGEMENT” is not only a cup of tea of any big Multi National Industry but also is a need for a House wife. There is nothing like Inventory is ‘GOOD’ or ‘BAD’. Keeping Inventory is a commitment for uninterrupted activity, while it can be “GOOD’ when it fulfill your work flow continuity, while it can be “BAD’, when it requires you to go “of” and work to get it rid. To express the hardcore of “INVENTORY MANAGEMENT”, ONE HAS TO ROMANCE WITH INVENTORY. So, having an INVENTORY STOCK CAN BE DIVIDED AS FOLLOWS

This book comprehensively addresses computational intelligence, including the theories, methodologies and techniques underlying this evolving field, as well as its potential uses in various domains across the entire spectrum of the sciences (the natural sciences, health sciences, engineering, social sciences, and humanities) and in various types of business. Computational intelligence is rapidly spreading into all kinds of products and services. This calls for the adaptation of existing theories, methodologies and techniques – and the development of wholly new ones – to ensure the successful implementation of new intelligent products and services in various domains related to public organizations, businesses and everyday life. This book gathers contributions from various experts working on different aspects and implementations of computational intelligence, which address new developments in theory, analytical and numerical simulation and modeling, experimentation, deployment and case studies, results of laboratory or field operational tests, and ongoing advances in computational intelligence. It is intended for a broad audience, including researchers, engineers, policymakers, industry experts, and students, offering these readers essential information on and new inspirations regarding the potential of computational intelligence.

Strategic disruptors in companies and economies, including blockchain technology, big data, and artificial intelligence, can contribute to the creation of new business opportunities, jobs, and growth. Research is needed on the impacts of these disruptors in Asia, as well as analyses on new business ecosystems and policy implications. Global Challenges and Strategic Disruptors in Asian Businesses and Economies presents a rich collection of chapters that explore and discuss the state of the art, emerging topics, challenges, and success factors in business, big data, innovation, and technology in Asia. The book explores how the internet of things, big data, and artificial intelligence can provide solutions for global challenges and companies. Including topics on digital economy, strategic management, and information technologies, this book is ideal for managing directors, general managers, corporate heads of firms, politicians, executives, entrepreneurs, academicians, decision makers, policymakers, researchers, and students looking to enhance their understanding and collaboration in business, disruptive innovation, and technology in Asia.

The Internet of Things (IoT) greatly increases the scope of IT by merging the digital and physical worlds. There has been a rush of creativity and optimism due to the vast opportunities presented by electronic monitoring and control of the physical environment. Predictions of a very different future and a good bit of excitement have been sparked by the radical shifts that IoT can bring to the way company manages physical assets, the way consumers care for their well-being and fitness, and the way cities function. Increasingly digitised and interconnected machinery is creating new ecosystems that boost productivity, enhance energy efficiency, and increase profits by facilitating communication between machines, people, and the Internet. Web-enabled devices will constitute the backbone of the IoT by serving as a communication center and application incubation for other connected devices. In this context, the goal of this book is to provide readers with up-to-date information on the latest developments in the relevant fields, to emphasise the challenges in addressing these challenges, and to provide sources for possible solutions. Future issues with IoT include extensive data collecting, the possibility of unanticipated uses of user data, and increased security threats. Therefore, the present technology has to be enhanced to increase privacy and construct safe IoT devices by taking a security-focused approach, decreasing the quantity of data gathered by IoT devices, raising transparency, and giving users an opt-out option. For the purpose of visually representing the many Internet of Things (IoT) problems, difficulties, and current approaches this books talks about all the measures that IoT takes as well how other technology brings benefits to the domain of Internet of Things.

Written specifically for the oil and gas industry, Reliable Maintenance Planning, Estimating, and Scheduling provides maintenance managers and engineers with the tools and techniques to create a manageable maintenance program that will save money and prevent costly facility shutdowns. The ABCs of work identification, planning, prioritization, scheduling, and execution are explained. The objective is to provide the capacity to identify, select and apply maintenance interventions that assure an effective maintenance management, while maximizing equipment performance, value creation and opportune and effective decision making. The book provides a pre- and post- self-assessment that will allow for measure competency improvement. Maintenance Managers and Engineers receive an expert guide for developing detailed actions including repairs, alterations, and preventative maintenance. The nuts and bolts of the planning, estimating, and scheduling process for oil and gas facilities Step-by-step maintenance guide will provide long-term, results-based operational services Case studies based on the oil and gas industry

The book aims to be reading for asset maintenance management in a perspective of whole life cycle of any type of physical asset. It deals with acquisition management, including econometric models to evaluate its life cycle, and the maintenance policies to adopt during its life until withdrawal. It also covers vital areas such as EAM/CMMS systems and its integration with the many technologies that are used to aid condition monitoring and the internet of things to improve maintenance management and to increase equipment availability. This will equip readers with new management methodologies, their requisites, and its importance to the improvement of corporate competitiveness. Key Features • Presents life cycle analysis in asset management • Attribution of tools to improve the life cycle of equipment • Provides assistance on the diagnosis of the maintenance state • Presentation of the state-of-the-art of technology to aid maintenance • Explores integration of EAM/CMMS systems with internet of things

Development in information and communication technologies has led to the advancement of business and enabled enterprises to produce on a global scale. Productivity is a key function in maintaining a competitive advantage in today’s market. The internet of things has rapidly become prevalent in the productivity efforts of businesses. Understanding these technologies and how to implement them into current business practices is vital for researchers and practitioners. Internet of Things (IoT) Applications for Enterprise Productivity is a collection of innovative research on the advancing methods productivity efforts of business through the implementation of the internet of things. While highlighting topics including employee motivation, enterprise productivity, and supply chain tracking, this book is ideally designed for manufacturing professionals, industrialists, engineers, managers, practitioners, academicians, and students seeking current research on enterprise production systems and its transformation using internet of things technologies.

In this book . . . Nicolas Vandeput hacks his way through the maze of quantitative supply chain optimizations. This book illustrates how the quantitative optimization of 21st century supply chains should be crafted and executed. . . . Vandeput is at the forefront of a new and better way of doing supply chains, and thanks to a richly illustrated book, where every single situation gets its own illustrating code snippet, so could you. --Joannes Vermorel, CEO, Lokad Inventory Optimization argues that mathematical inventory models can only take us so far with supply chain management. In order to optimize inventory policies, we have to use probabilistic simulations. The book explains how to implement these models and simulations step-by-step, starting from simple deterministic ones to complex multi-echelon optimization. The first two parts of the book discuss classical mathematical models, their limitations and assumptions, and a quick but effective introduction to Python is provided. Part 3 contains more advanced models that will allow you to optimize your profits, estimate your lost sales and use advanced demand distributions. It also provides an explanation of how you can optimize a multi-echelon supply chain based on a simple—yet powerful—framework. Part 4 discusses inventory optimization thanks to simulations under custom discrete demand probability functions. Inventory managers, demand planners and academics interested in gaining cost-effective solutions will benefit from the "do-it-yourself" examples and Python programs included in each chapter.

b”IoT-Enabled Smart Healthcare Systems, Services and ApplicationsExplore the latest healthcare applications of cutting-edge technologies In IoT-Enabled Smart Healthcare Systems, Services and Applications, an accomplished team of researchers delivers an insightful and comprehensive exploration of the roles played by cutting-edge technologies in modern healthcare delivery. The distinguished editors have included resources from a diverse array of learned experts in the field that combine to create a broad examination of a rapidly developing field. With a particular focus on Internet of Things (IoT) technologies, readers will discover how new technologies are impacting healthcare applications from remote monitoring systems to entire healthcare delivery methodologies. After an introduction to the role of emerging technologies in smart health care, this volume includes treatments of ICN-Fog computing, edge computing, security and privacy, IoT architecture, vehicular ad-hoc networks (VANETs), and patient surveillance systems, all in the context of healthcare delivery. Readers will also find: A thorough introduction to ICN-Fog computing for IoT based healthcare, including its architecture and challenges Comprehensive explorations of Internet of Things enabled software defined networking for edge computing in healthcare Practical discussions of a review of e-healthcare systems in India and Thailand, as well as the security and privacy issues that arise through the use of smart healthcare systems using Internet of Things devices In-depth examinations of the architecture and applications of an Internet of Things based healthcare system Perfect for healthcare practitioners and allied health professionals, hospital administrators, and technology professionals, IoT-Enabled Smart Healthcare Systems, Services and Applications is an indispensable addition to the libraries of healthcare regulators and policymakers seeking a one-stop resource that explains cutting-edge technologies in modern healthcare.

There is an almost infinite number of ways in which the Internet of Things (IoT) might improve people's lives, and now widespread adoption of IoT applications is bringing about profound changes in how we live and work. Organizations in both the commercial and governmental sectors may better manage their assets, enhance their performance, and experiment with new business models advent of the Internet of Things. The Internet of Things has the ability to aid an ageing population, increase energy efficiency, and streamline all forms of transportation due to its central role in connecting gadgets and serving as a general facilitator of the hyper-connected society. Issues of identity, trust, privacy, security, and semantic interoperability are crucial to the success of the Internet of Things, and their development in an acceptable legal context and atmosphere of trust is essential. This book will introduce you to the current status of Internet of Things application development and research and will give you an idea of where the field stands. Manufacturing, transportation, health, building automation, agriculture, and the environment are some of the many fields that stand to benefit from the sensing, communications, and computing infused with ambient iv intelligence at the core of IoT, IIoT, and Industry 4.0 technologies. In addition to revolutionizing the business world, the new ambient intelligence computer clusters are projected to improve people's health, safeguard the planet, and facilitate more responsible consumption. This book takes a multidisciplinary approach to elucidating the knotty problem of recent scientific and technological advances that have relied heavily on AI.