While trying to balance cost with spare parts availability, reliability, and performance, Companies are increasingly turning to third-party service providers to manage spare parts inventories aiming to reduce the inventory-related costs and the risk associated with obsolescence, depreciation, and overstocking.
However, be wary of rushing too quickly to a third party, especially under a multi-year contract. Get your house in order first; otherwise, you might be leaving too much low-hanging fruit for the external service provider to turn into a quick profit at your expense.
