Forecasting Challenges of the Spare Parts Industry

Forecasting the demand for spare parts is very much different from finished goods. The author describes the unique problems that occur when forecasting spare parts, and how to best deal with them. He also discusses SKU proliferation as well as the legal obligations that accompany forecasting spare parts. MICHAEL MORRIS | Mr. Morris is currently the Manager of Inventory-Product Service and Parts at Yamaha Corporation of America. Prior to his current role, he was the Manager of Inventory Control and Forecasting at Yokohama Tire Corporation where he worked on the company’s forecasting process. Previous to that, he was with Roland Corporation U.S. as an Inventory Control Manager as well as with Allegro Mfg., a Division of Conair, as a Business Analyst. Mr. Morris has extensive experience in supply chain management and forecasting. His credentials include APICS Certification in Supply Chain, Certification in Production and Inventory Management, Six Sigma Green Belt Certification, IBF’s CPF Certification, along with a Professional Designation in Logistics and Supply Chain Management from the American Society of Transportation and Logistics. I recently transitioned from a finished ...