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Reducing Costs through Spares Optimization and Rationalisation » MA12

Reducing Costs through Spares Optimization and Rationalisation

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21 Feb - 25 Feb, 2022Live Online5 Days$2150Register
16 May - 20 May, 2022Live Online5 Days$2150Register
10 Aug - 12 Aug, 2022Live Online3 Days$1750Register
21 Nov - 25 Nov, 2022Live Online5 Days$2150Register
21 Feb - 25 Feb, 2022Amsterdam5 Days$5695Register
01 Aug - 03 Aug, 2022Johannesburg3 Days$4100Register

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Course Overview

This Reducing Costs through Spares Optimization and Rationalisation training programme covers the essentials aspects relevant to minimizing the inventory and the costs of spare parts and is supported by practical exercise and software to support the understanding procedures.

After this training programme, the delegates will be able to learn the implementation of tools and techniques that can help them in their organizations and start to minimize the costs.
The worksheets for excel analysis will be provided to the delegates containing all the formulae to conduct their analysis.

Who Should Attend?

Personnel who can attend this Reducing Costs through Spares Optimization and Rationalisation course are:

  • Engineers
  • Analysts
  • Maintenance managers
  • CMMS key users
  • Supervisors and warehouse managers
  • Project engineers
  • Inventory and spares personnel

Course Objectives:

  • To enhance the spares for cataloguing
  • To demonstrate the determination when to order scientifically defined as a point of reorder point
  • To present the way of ordering based on counting
  • To consider the fundamentals of rationalizing spares
  • To emphasize the current issues associated with spares management

Course Outline:

Module I

  • Stock Management & Optimization: The introduction
  • Stock management: Common problems
  • Definitions and terms
  • Replenishment process and the initial spares
  • Stocking spares: Association of different costs of stocking
  • Types of spares
  • Categories of spares
  • Lead times: Estimation
  • Stock Exercise lead time: strategies defined for stock replenishment

Module II

  • Cataloguing and the effective SPIRS
  • SPIR purpose
  • The reason behind bad submission
  • Study guides and poor examples
  • The naming conventions and the coding of stock item
  • SAP and Maximo: The major distinctions
  • The reason why We Should Stock
  • Cataloguing: Exercise

Module III

  • Safety Stock, failure statistics and setting ROPs: The introduction
  • Definitions
  • Spares and failures
  • Reliability measurement
  • Analysis of Weibull
  • Determining safety stock: The possible options
  • Poisson Distribution
  • Service Level impact
  • Safety Stock and the determination of ROPs

Module IV

  • Optimization Spares and how many to order
  • Order quantity formula: The exploration
  • Ordering too many or too few: The effective approach
  • Description of How the formula doesn’t work every time
  • Determination of the parameters for initial spares
  • Annual issue quantities: The estimation
  • Parameters and the evaluation of the stock levels in the current time
  • Spares based on KPIs
  • Differences between MS Access and Excel
  • Insurance Spares: The evaluation
  • Excel Analysis Worksheet: The essential exercises

Module V

  • Auditing and spares Work Processes
  • Purchasing management and the work process for spares
  • Process for audit work
  • Audit planning
  • The concept of conducting the audit
  • Corrective actions and the recognition of issues
  • Reporting System based on KPI
  • Auditing a work process auditing: The exercise

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.

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