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Managing Your Obsolescence in the Manufacturing Industry

“Before anything else, preparation is the key to success.” The words of legendary innovator Alexander Graham Bell. And, of course, we know this to be true both in business and in the manufacturing environment. It is critical to plan ahead, but some things are harder to plan for than others, even when we know they’re coming. 

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Obsolescence Management - How Well Are You Prepared?

The product lifecycle of a technical system is often longer in practise than the availability of spare parts. Every day, manufacturers worldwide are discontinuing products, so their end of life is announced. This affects not only the systems manufacturer but largely the operator of the plant. The machine down risk for a defective component within the system increases. While it was common practise a few years ago to stock critical components, it was soon removed in respect of warehouse costs and the tied-up capital and replaced by just-in-time inventory availability by the manufactures or distributors.

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