Michael Blumberg

As service organizations face increasing pressure to improve uptime, reduce inventory costs, and respond faster to disruption, the role of Service Parts Management (SPM) has become more strategic than ever. Today’s supply chains must be efficient and intelligent—leveraging advanced technologies like AI and machine learning to anticipate demand, optimize inventory across complex networks, and drive smarter service decisions.

This session explores the key trends shaping modern service supply chains, and the challenges organizations must overcome, and the essential criteria for evaluating and selecting the right SPM platform. Drawing on benchmark insights and market intelligence, we’ll outline what sets next-generation SPM solutions apart and how to align your selection with long-term service transformation goals.

Key Takeaways:

• Emerging trends driving change in service supply chains and SPM strategies
• Common challenges that hinder performance and agility in spare parts operations
• Critical capabilities to prioritize when evaluating SPM platforms, including AI/ML readiness, scalability, and integration
• Strategic considerations to future-proof your service parts planning and execution environment

Managing inventory levels with today’s volatile supply chain is a delicate balancing act. Overstocking can lead to significant financial losses due to higher prices and uncertain delivery dates, both of which displease customers. This session will equip attendees with practical strategies to optimize inventory management, mitigate risks, and ensure smoother supply chain operations.

Key takeaways:

• The hidden financial burdens associated with excess inventory, including obsolescence, storage costs, and opportunity costs.
• Demand forecasting techniques to accurately predict future demand, enabling more precise inventory planning.
• Inventory optimization strategies to minimize excess inventory, such as just-in-time inventory, safety stock optimization, and vendor-managed inventory.
• Risk mitigation tactics to mitigate disruptions, including supplier diversification, contingency planning, and early warning systems.

We’ll also discuss how advanced analytics, IoT, and AI can enhance inventory visibility, optimize replenishment processes, and reduce costs.