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True whole of life management avoids the pitfalls of reactive obsolescence management - unplanned redesigns and approvals, parts shortages, customer
service issues and excess stock inventory. A cost effective solution can only be the result of:
- Definition of material needs against projected life cycle & regular surveying of materials suppliers
- Positive use of an operational information network (eg: component databases; 3rd party data sharing)
- Balance of component inventory costs versus redesign costs versus storage issues
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Corporate Statement
