Spare Talk, Episode Three: Listeners’ Comments
Hey, there! Welcome to our recap of the third Spare Talk episode. In case you haven’t checked it out yet, Spare Talk is our podcast featuring Baxter Planning subject matter experts John Peterson and Mike Ross. In each episode, they’ll answer a variety of questions related to Spare Parts Planning, taking it step-by-step from diagnosis to assessment and recommendation.
The last episode dove into some questions about demand history and forecasting. In this one, John and Mike address feedback that came in from customers about episodes one and two.
More Talk About ‘Turns’
In episode one, John and Mike addressed issues with using turns, or inventory turnover, as a performance metric for Spare Parts Planning (SPP). They lent an understanding perspective to the common scenario where someone in leadership without an SPP background asks, “Why are your turns so bad?”
This topic resonated with Ram, the Senior Director of Logistics Services at a medical diagnostic company, who agreed that turns aren’t a great metric to chase for SPP. He added that having properly planned and maintained inventory is critical, however. In his medical industry, it could potentially save a life. Ram also brought up that revenue turns, or service revenue divided by service inventory, could be the more valuable metric to measure
The convo segued into a few comments on service investments, another key metric to track. Ram asserted that, “It makes no sense to deliver top-class customer experience without getting a return on that investment.” Mike and John agreed that companies who deviate from strategic service delivery won’t be as successful, and that this is a time factor to consider as we continue to shift to a service-based economy.
The Service Parts Planning Community
Kate, the Director of Global Product Service Development with an industrial manufacturer, commented that Spare Talk made her feel like part of a community, as her department can sometimes resemble “the sidekick that no one understands.” John and Mike were delighted to hear that she felt seen and heard, as it speaks to the point of Spare Talk: to spark a connection with fellow SPP professionals while exploring the quirky nuances of the industry. Mike and John mused over how the decades of experience they’ve gained in this field is unlike anything other non-SPP supply chain leaders have to handle, from reverse logistics to eco-friendly disposal of unused materials. They went on to say that even within the supply chain world, service parts require a ton of specialized knowledge that most folks can only gain on the job. That’s why they’re here to share their tricks of the trade!
Submit Your Own Question!
On that note, this concludes our summary of the second episode of Spare Talk. Have a question you’d like Mike and John to answer in a future episode? Send us an email at sparetalk@baxterplanning.com!
Lindsey Rose
Marketing Director
Lindsey is a relatively new addition to the Baxter Planning team, running the company’s marketing activities like webinars, email communication, and you guessed it – the Baxter Planning Blog.
With more than eight years in B2B Marketing, Lindsey enjoys finding unique ways for a company to not only stand out, but to bring true benefit a company’s customers and the industry as a whole. She finds the Baxter Planning team especially amazing to work with because of the deep passion and knowledge held by the subject matter experts and everyone at the company.
Lindsey stays plenty busy outside of work, spending time with her husband and their two toddlers. They spend lots of time at playgrounds and going for walks with their dog.
