Spare Parts Management
The program would be an interactive 3-day course with many in class exercises including solving some of company’s problems in the class (given availability of data). It also includes few hours of working with software package called SMS for slow-moving and repairable spares and also an Excel based program for fast moving spare parts. The main subjects covered in the program are listed below. There are some flexibilities regarding some of the topics depending on client’s preferences.
- Does your maintenance parts strategy align with your corporate and asset management life-cycle strategies?
- Do you know what parts are critical and how they may fail in your operating context?
- What are your fast-moving spares? What would be optimum reorder point?
- What would be the most economic reorder quantity?
- How to calculate optimum MIN and MAX for your inventory?
- How to hit the right balance between risk of having too few spares and cost of inventory?
- What are optimum minimum spares/safety stock for your slow-moving spares?
- How many repairable spares to keep in your inventory to minimize total cost production and inventory costs?
- How to work with SMS software package to calculate your minimum inventory requirements for both repairable and non-repairable spare parts?
- How reducing replenishment lead times can save a company money?
- Do you know how to prioritize your spare parts inventory improvement plans?
- How co-locating and sharing can reduce costs?
- What are the best KPIs for managing your spare part provisioning system?
Participants of this program will receive copies of the presentation material as well as supportive papers on the topics discussed.
Suitability - Who should attend?
Successful Spare Parts Programs require the disciplined application of proven processes and interdepartmental partnerships. It is important for departments that are influenced and impacted by these processes to understand how to apply them. Engineers, analysts, planners, managers, and leaders responsible for the following functions will benefit from this training:
- Asset management
- Facilities, maintenance management, planning, and
- Capital works, acquisition, planning
- Material or through life support
- Life cycle costing
- Store rooms
- Costs savings coordinators
Outcome / Qualification etc.
You will gain knowledge, develop new strategies and confirm what works with:
- Skills that you will be able to apply immediately
- You will be able to identify and define the Spare Parts environment
- Develop and Manage effective Spare Parts program
- Benchmark your existing spare parts program
- Develop a continuous improvement spare parts program
- Understand the elements that contribute to maintenance parts excellence
- Understand the value a maintenance parts operation and how it contributes to maintenance and the assets they are supporting
- Enhance your profit margins by stocking the right parts in the right place in right quantities for the right reason
- Understand how to measure success for a Maintenance parts operation
- Learn how to forecast parts requirements through the asset life-cycle
Training Course Content
- What are types of inventory in manufacturing?
- Key inventory issues
- Types of production inventory
- Setting the reorder point
- Managing repairable spares
- Setting the reorder quantity
- Determining excess inventory
- Ways to optimize inventory investment
- Summary and conclusion
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The Partners for Quality Award recognizes an Employer providing support to an individual where there was a significant benefit to the Division or Society. LEORON institute was granted the prestigious award for their continued promotion of Organizational Excellence through training courses that are directly related to quality improvement techniques and methodologies they provide while promoting the values and mission of ASQ Quality Management Division.
Provider: LEORON Professional Development Institute
Built upon the strong experience in the manufacturing sector, which its founders developed in Sweden during the 90’s global expansion, LEORON evolved into the dominant training institute that offers a comprehensive set of training and development solutions. All across the...
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