Learn to evaluate and optimise your spare parts management.
We offer this course as a basic skills course for spare parts stakeholders – including supply, maintenance and operations. We will show participants how all of these organisational elements must work together to establish the optimum spares strategy for a particular situation, as well as to continually review and improve that strategy.
Participants will gain an understanding of:
- The principles of spare parts optimisation in a maintenance repair and operating (MRO) environment
- Techniques for evaluating the factors that influence the spares holding decision
- Alternative solutions to large inventory
Effective application of these principles and techniques will simultaneously drive both reductions in inventory value and increases in inventory performance.
Key outcomes
By the end of this course, you will (at a minimum) be able to:
- State the value proposition for spare parts holdings with respect to the business goals
- Apply an equipment criticality process to identify critical spares
- Apply analysis techniques to identify candidates for inventory optimisation
- Estimate the key factors in a spares holding decision:
- Demand for the spare, including from both preventive and corrective maintenance
- The holding cost for the spare
- The cost of a stock outage for the spare
- The number of spares required to achieve an acceptable level of risk of an outage
- Identify alternative solutions to holding spares
- Describe the importance of a continuous improvement approach to spares holdings
Course outline
- The need for spares
- Why you may need SPO
- Enough is enough
- Definitions and terminology
- Exercise – Inventory KPIs
- How to select equipment for analysis
- Documenting the scope
- Collecting & purifying data
- Confirming criticality
- Activity – Eliminate Duplicates
- Exercise – Determine Criticality
- Locating and reviewing additional inputs
- Dealing with insurance stock
- Activity – Insurance Stock Review
- Dealing with consumable stock
- Usage Based Analysis
- Exercise – MIN Stock Calculation
- Activity – Consumable Stock Review
- Dealing with rotable stock
- Activity: Rotable Stock Review
- Facilitating timely approvals
- Managing change
- Using performance measures
- The Journey to Operational Excellence
- The PDCA cycle and the Deming wheel
Spare Parts Optimisation
- Brisbane, Melbourne, Perth
- From $877.50 excl. GST
- Online duration: 6 hours
- Face to face duration: 8 hours