Opinion: Measuring The Cost Of Delayed Routine Parts
Increased maintenance costs, lost revenue and regulatory penalties are potential consequences of routine parts delays.
Credit: Lindsay Bjerregaard/AW&ST
We are all aware of the problems of long lead times and routine parts delays, but how can we solve them? We must take a step back and take some advice from British mathematician William Thomson, also known as Lord Kelvin, who famously said: “If you cannot measure it, you cannot improve it.” Heeding...
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