Update from 2022 regarding parts management and their inventory. The viewpoints mentioned do not reflect proper management of parts inventories in the context of insuring you have the right parts when you need them the most. What is talked about is minimizing inventory as a way to "increase cashflow", AKA don't maintain an inventory of parts. The traditional approach is to treat parts inventories like a savings account that you'll occasionally dip into when you need the cash. The account is federally insured and you know it will be available, sometimes even building interest. What you're saying in this video is basically to raid the saving account, liquidate the parts as a way to extract a little extra cash out of the business, because you can just order the parts when you need them. Not only does that assume the parts will be available to order when you need them, but also that they won't increase in price. Well, here we are in 2022 and the parts are not available. When they can be ordered they have increased in cost dramatically and won't arrive for months. With this cash grab viewpoint replicated throughout industries, we have a global supply chain disfunction, low supply of goods, increased demand, rapid inflation, increased costs, but hey, some corporations are posting record profits so maybe it was architected from the beginning as another way of extracting cash from the world economy.
