Spare parts inventory: An exercise in risk management -- Part 2

In part 1 of this article ( Nov 2013 AMMJ) we explored the relationship between spare parts inventory management and risk management. We explored the reasons for holding inventory, the consequence of breakdowns and the worked through a process for evaluating a process for deciding on inventory holdings based on risk assessment. In part 2 we now take the ideas discussed in part 1 and explore the impact of your maintenance policy on your spare parts inventory and risk exposure.