You may not realize that at SparePartsKnowHow we have an extensive glossary of relevant terms used in spare parts inventory management.
You can access these via the website.
The most regularly visited definition is that of Insurance Spares.
Here's why:
Specifically categorizing insurance spares in your inventory is very important.
If you don’t properly categorize insurance spares you may find that you stock a lot of value in this type of spare part but cannot segment those spare parts and therefore subject them to appropriate scrutiny.
Only with appropriate scrutiny can you ensure that you hold the insurance spares that you really need.
You can read tour definition HERE 
