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Parts Locator
A parts locator or inventory locator is a computer program that enables users to locate spare parts or other inventory items in a number of different storage locations, usually of different owners. A parts locator can be used to improve spare parts management by increasing parts availability and decreasing obsolescence. Parts locators can be included in other (packaged) software such as Dealership Management Systems (DMS) or inventory control systems; or can be offered as a separate program. Due to the purpose of the software, it becomes more valuable when it has more users, as the number of inventories that are made available increases with the number of users. Examples of specialised suppliers of parts locators are OEConnection, PareX Parts Exchange (PareX) and Inventory Locator Service, LLC (ILS) Inventory Locator Service, LLC (ILS) is an American company that started the first e-Marketplace for aviation, marine, and defense industries. ILS has its headquarters in Memph ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer Program
A computer program is a sequence or set of instructions in a programming language for a computer to execute. Computer programs are one component of software, which also includes documentation and other intangible components. A computer program in its human-readable form is called source code. Source code needs another computer program to execute because computers can only execute their native machine instructions. Therefore, source code may be translated to machine instructions using the language's compiler. ( Assembly language programs are translated using an assembler.) The resulting file is called an executable. Alternatively, source code may execute within the language's interpreter. If the executable is requested for execution, then the operating system loads it into memory and starts a process. The central processing unit will soon switch to this process so it can fetch, decode, and then execute each machine instruction. If the source code is requested for execution, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spare Part
A spare part, spare, service part, repair part, or replacement part, is an interchangeable part that is kept in an inventory and used for the repair or refurbishment of defective equipment/units. Spare parts are an important feature of logistics engineering and supply chain management, often comprising dedicated spare parts management systems. Spare parts are an outgrowth of the industrial development of interchangeable parts and mass production. In an industrial environment, spare parts are described in several manner to distinguish key features of various spare parts. The following describes spare part types and their typically functionality. 1. Capital parts are spare parts which, although acknowledged to have a long life or a small chance of failure, would cause a long shutdown of equipment because it would take a long time to get a replacement for them. Capital parts are typically repaired or replaced during planned overhauls/scheduled inspections. As description imp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inventory
Inventory (American English) or stock (British English) refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilisation. Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned course of production and stock of materials. The concept of inventory, stock or work in process (or work in progress) has been extended from manufacturing systems to service businesses and projects, by generalizing the definition to be "all work within the process of production—all work that is or has occurred prior to the completion of production". In the context of a manufacturing production system, inventory refers to all work that has occurred—raw materials, partially finished products, finished products prior to sale and departure from the manufacturing system. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spare Parts Management
Service parts management is the main component of a complete strategic service management process that companies use to ensure that right spare part and resources are at the right place (where the broken part is) at the right time. Spare parts, are extra parts that are available and in proximity to a functional item, such as an automobile, boat, engine, for which they might be used for repair. Economic considerations Spare parts are sometimes considered uneconomical since: * the parts might never be used * the parts might not be stored properly, leading to defects * maintaining inventory of spare parts has associated costs * parts may not be available when needed from a supplier But without the spare part on hand, a company's customer satisfaction levels could drop if a customer has to wait too long for their item to be fixed. Therefore, companies need to plan and align their service parts inventory and workforce resources to achieve optimal customer satisfaction levels with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Availability
In reliability engineering, the term availability has the following meanings: * The degree to which a system, subsystem or equipment is in a specified operable and committable state at the start of a mission, when the mission is called for at an unknown, ''i.e.'' a random, time. * The probability that an item will operate satisfactorily at a given point in time when used under stated conditions in an ideal support environment. Normally high availability systems might be specified as 99.98%, 99.999% or 99.9996%. Representation The simplest representation of availability (''A'') is a ratio of the expected value of the uptime of a system to the aggregate of the expected values of up and down time (that results in the "total amont of time" ''C'' of the observation window) : A = \frac = \frac Another equation for availability (''A'') is a ratio of the Mean Time To Failure (MTTF) and Mean Time To Repair (MTTR), or : A = \frac = \frac If we define the status function X(t) as : X( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Obsolescence
Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky replaces it. The international standard IEC 62402:2019 Obsolescence Management defines obsolescence as the "transition from available to unavailable from the manufacturer in accordance with the original specification". Obsolete also refers to something that is already disused or discarded, or antiquated. Typically, obsolescence is preceded by a gradual decline in popularity. Consequences Driven by rapid technological changes, new components are developed and launched on the market with increasing speed. The result is a dramatic change in production methods of all components and their market availability. A growing industry sector is facing issues where life cycles of products no longer fit together with life cycles of required components ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inventory Control System
Inventory control or stock control can be broadly defined as "the activity of checking a shop's stock". It is the process of ensuring that the right amount of supply is available within a business. However, a more focused definition takes into account the more science-based, methodical practice of not only verifying a business's inventory but also maximising the amount of profit from the least amount of inventory investment without affecting customer satisfaction. Other facets of inventory control include forecasting future demand, supply chain management, production control, financial flexibility, purchasing data, loss prevention and turnover, and customer satisfaction. An extension of inventory control is the inventory control system. This may come in the form of a technological system and its programmed software used for managing various aspects of inventory problems, or it may refer to a methodology (which may include the use of technological barriers) for handling loss preve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PareX Parts Exchange
Parex Bank was a Latvian bank founded in 1992 by Valērijs Kargins and as a privately owned full-service banking company in Riga, Latvia that was very dominant in currency exchange in the 1990s. It had local and international clients in both the West and Russia with close ties to the Tambovskaya Russian mafia in St Petersburg and Vladimir Putin. As the second largest bank in Latvia in 2008, its failure and state takeover was one of the major events of the 2008–2010 Latvian financial crisis. On 1 August 2010, Parex Banka was split into a new bank Citadele Banka and Reverta, an asset recovery company. Citadele was then sold to a group of United States investors while Reverta sued the founders Kargins and Krasovickis for €88 million due to 14 highly irregular loans and deposits between 1995 and 2008. History On 5 August 1986, under the Riga's City Committee of the Komsomol, Gints Marga created ''Parex'', which is a portmanteau of ''export parity,'' as a self suppor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inventory Locator Service, LLC (ILS)
Inventory Locator Service, LLC (ILS) is an American company that started the first e-Marketplace for aviation, marine, and defense industries. ILS has its headquarters in Memphis, Tennessee, United States of America; with relationships globally, especially in North America, through its parent company CAMP Systems, Inc., a subsidiary of Hearst Corporation.ILS. ''About Us''. ILSmart:Aircraft Parts, Helicopter & Defense Parts, Marine Spares (2009): Web. 5 Oct 2009.http://www.ilsmart.com/aboutus Inventory Locator Service was started in May 1979 by John Williams, founder of The Memphis Group, an aircraft parts dealer.Warbelow, Art. "Inventory Locator Service." Harvard Business School. 191.008 (1990): 5. Print. ILS provided a business-to-business marketplace for its subscribers to search among millions of parts and negotiate orders. History In 1985, Williams and his four partners became concerned that ILS might be vulnerable to competition and urged selling the company while it was p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
