30 Tactic action Plan: MRO Spares – Reduce Stock levels, Inventory and Stocking Costs
Use Successful and proven methods and analysis techniques to effectively reduce inventory and costs of MRO spares parts.
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. How well do you manage your inventory?
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 your organisation and start to reduce costs.
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 your current inventory parameters. Different techniques will be used for normal operating and consumable spares and slow-moving spares.
The course is of particular benefit to companies who:
- Want to audit their spares master data quality or
- Need to upgrade their CMMS or implement a CMMS for the first time
- Want to reduce inventory levels and costs
Many case studies will be shown including the following examples
- Poor cataloguing
- Duplicate stock
- Reduction of 50-70% in line items
- Where master data has been controlled from the group’s headquarters and still leads to duplicate line items
- Where cleansing carried out by consultants has been done poorly
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 how to improve CMMS spares master data cataloguing.
The Course is designed for:
- 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.
You will Learn
- ISO55000 and what it means for inventory management
- How to achieve consistent master data quality. (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 initial data from vendors.
- How to evaluate safety stocks scientifically
- How to determine how many to buy and what to do when the EOQ does not work
- 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 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 vs Excel
- Evaluate policies for insurance spares
- Alternative Spares
- KPI Reporting system
- Course Review and Delegates Action Plan
- Many diverse industrial sectors (mining, metals, power, manufacturing & oil and gas.
- Conducted over 400 audits including fast track audits, in-depth audits and distance audits in maintenance management.
- Developed Policy and procedures documents for several Oil & Gas Companies.
- Wrote standard and guidelines on many topics in auditing, maintainability, RCA, RCM, CMMS data population (asset, PMs, Failure Codes, Spare Parts).
- Developed MS Access tools for Auditing, Cleansing Spare Parts Master Data, Identifying Duplicates, and Building BOMs.
- Conducted many spare parts master data audits and cleansed the master data for a large national oil company.
- Conducted several of reliability assignments.
- 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.