GUARANTEED SAVINGS: MRO Spares – Optimize Stock Levels, and Reduce Inventory Costs (SG)
Use Successful and proven methods and analysis techniques to effectively reduce inventory and costs of spares part.
Many companies do a bad job at managing their inventory effectively; there are many reasons for this. But it starts with bad submission of SPIR/RSPL, poor cataloguing and the selection of initial spares.
This practical newly structured 3 day workshop covers every aspect related to reducing inventory and costs of spares parts and is supported by case studies, software and practical exercise to aid understanding. The techniques allow you to immediately apply them in the workplace and start to reduce cost.
There are very few courses conducted that deal with the practical issues of spares cataloguing, optimizing spares and stock reduction. After this course, delegates will leave the workshop with tools and techniques that they can immediately apply in their own companies and start to reduce costs.
An Excel Analysis worksheet containing all formulae will be provided to conduct an audit of current inventory parameters.
Two analysis techniques will be covered; first using probability for normal operating and consumable spares and the second using simulation (modelling) techniques for high value spares with logistic issues.
The course is of particular benefit to companies who:
- Want to audit their spares data quality or
- Need to upgrade their CMMS
- Want to reduce inventory levels and costs
Many case studies will be shown including reduction of 50-70% in line items
Delegates are required to bring laptop to conduct the numerous exercises. This course has a new structure designed to focus more to reduce stock levels, spares costs and stocking costs - and provide additional exercises using the optimization techniques in addition to include how to conduct improved CMMS spares cataloguing.
The Course is designed to:
- Purchasing & Logistics
- Anyone involved in cost control for spares and materials
- Project and Design Engineers who have an interest in how to minimize risk and costs of spare part inventories.
- Engineers responsible for specifying, buying spares and setting up the spares information in the CMMS.
- Anyone who want to reduce Maintenance OpEx.
- Previous Attended Job-titles: Inventory Management, Maintenance Department , warehouse , Maintenance mechanical, Inspection & Data Management, Production , Material , Instrument & Control, Maintenance & Reliability , Buyer , Procurement & contract, Planner , Store controller, CMMS coordinator, Supply chain management , Plant Engineer, Equipment Analysis and Central service Manager.
You will Learn
- ISO5500 and what it means for inventory management
- How to achieve consistent cataloguing
- The different costs associated with spares management
- Learn techniques to improve reliability resulting in less spares usage
- How to select the right inventory policy for fast and slow moving parts
- Good practices related to SPIR forms
- How to evaluate safety stocks scientifically
- How to determine how many to buy
- Learn strategies to minimise stock
- How to justify the financial case for high value spares
- How to measure inventory performance
- What can be done in-house and what can be done with specialist software
- UNDERSTAND the different meanings of ROP for SAP Users (New material to reflect SAP methodology)
- Introduction to Spares Management
- Improving RSPL Data from Vendors
- Effective Spares Cataloguing
- Inventory Cost Reduction Programme
- Spares Parts Cost
- Reliability Theory Related to Spares
- Challenge Vendors Recommended Quantities
- Setting Re-Order and Safety Stock Levels
- How Many to Order? Determining the EOQ
- Auditing current inventory Parameters effectiveness
- Database Solution
- Evaluate policies for insurance spares
- Alternative Spares
- KPI Reporting system
- Course Review and Delegates Action Plan
40 years of experience covers all aspects in Maintenance, Reliability and Operation management. His area of strength covers specifically in maintenance management audit reports , RCA , Shutdown planning and failure code systems ,CMMS , KPIs , Spares Optimization , RCM and RAM Modelling.
- Conducted over 400 audits including fast track audits, in-depth audits and distance audits in maintenance management.
- Currently working for Worley Parsons in UK writing document for a number of FEED projects worldwide.
- Interest in helping companies collect better data and to try and make reliability of interest to the regular maintenance engineer by concentrating on applications rather than complex mathematical theory.
- Developed Policy and procedures documents for a number of Oil & Gas Companies.
- Wrote standard and guidelines on many topics on maintainability, RCA, work packs, Shutdown planning and failure code systems.
- Wrote over 400 audits reports covering excellence in Maintenance management and in specialist topics spares, CMMS, KPIs and Reliability Management system.
- Presented Papers at several Maintenance & Reliability Symposiums in Europe, Malaysia and Brazil.
- Online distant learning instructor for Robert Gordon University in Assets integrity and Reliability Management.
- Undertaking a major CMMS data Cleansing Project as part of a CMMS upgrading.