The pit winding wheel example is valid; sometimes defence equipment creates similar if not worse challenges.
I'd be interested to know what USAF inventory managers are doing about e.g. F22 CIPs and PowerPC / i960s. Whilst some continual upgrade maybe planned, I suspect they are not afraid to justify why keeping stocks of components is cost effective to an extent for extended periods - vs rehosting the software every few years for example....one wonders if the NAO 'experts' even understand the issues involved, or whether they just get a new iPhone every 2 years and hence don't see why defence can't be 'the same' with no significant spares holdings....
...this is not to say there won't be some waste going on of course that should be rightly criticised if it cannot be justified...