Warehouse & Obsolete Spares Management
Revamp your inventory management and warehouse practices featuring expert guidance on auditing, obsolescence management and stock optimization
Obsolete spares management can be a major challenge for companies, particularly those that rely on complex equipment or machinery to conduct their business. When equipment is replaced, obsolete parts can become a liability, taking up valuable warehouse space and tying up capital that could be used elsewhere.
This new course on “Warehouse & Obsolete Spares Management" will delve into various critical aspects of warehouse management with a particular focus on obsolete management, including best practices for auditing and identifying vendor and company-led obsolescence. The course complies with the ISO Standard for Asset Management and is structured according to 7 step improvement in 11 main sections.
The 2 days Masterclass will begin with good warehouse practices, auditing companies’ inventory and warehouse best practices, practices used by many “European companies”, how to deal with slow-moving spares, different replenishment approaches, outsourcing pros and cons, unwanted items and how to deal with them, supporting the obsolescence program including company-led and OEM/OPM-led, controlling rotable spares, and making repair versus replace decisions.
The Masterclass is divided into various sections that cover perceived and common issues, initial part set up, auditing inventory management, improving technical documents and guides, data validation, and data cleansing, standardization and rationalization, optimizing inventory control, warehouse management, special tool management, repair kits and kitting, rotable spare management, and outsourcing.
The objective of this Masterclass is to provide participants with a comprehensive understanding of best practices in warehouse management, with a particular emphasis on obsolete management.
- Maintenance / Planners / Project / Production / Manufacturing
- Mechanical / Electrical with an interest in spare parts
- Materials /warehouse/store personnel /Logistic
- Anyone involved in cost control for spares and materials
- Engineers responsible for specifying, buying spares and setting up the spare’s information in the CMMS.
- 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.
You will Learn
- Processes & Procedures for good warehouse practices
- How to audit the companies inventory and warehouse best practices,
- Practices used by many European companies i.e. 5s
- How to deal with slow moving spares
- Is outsourcing for you pros and cons.
- Understand what are unwanted items and how to deal with them
- How to support the obsolescence programme incl company led & OEM/OPM led
- How to control rotable spares
- How to make repair versus replace decisions
- Perceived & Common Issues
- Initial Part Set Up
- Auditing Inventory Management
- Improving Technical Documents & Guides
- Data Validation & Data Cleansing
- Standardisation & Rationalisation
- Stock Optimization
- Monitoring Performance & Taking Action
- 5S for the Warehouse
- Receiving & Issues
- Planning, Picking and Staging
- Spare Parts Preservation Good Practices
- Physical Stock Counting
- Unwanted & Obsolescence Management
- Special Tool Management
- Repair Kits & Kitting
- Rotable spare management
- Outsourcing the Management of the Warehouse
- 40 years of experience
- Showed how a Chinese Chemical giant could save $500,000 in inventory stock level from just 10-line items.
- Taking the highest annual consumption and taking conservative approach we demonstrated $12,000 savings on one spare selected at random, this was much more than the cost of the training.
- Analysed a company’s BOMs in SAP. Showed a high % of equipment with no BOMs and a high number of spares not assigned to BOMs. This analysis also supported the management of obsolete spare programme.
- Reviewed the MRO data cleansed by a Canadian Consultant, showed how not only was the cleansing poor but they did not identify 15% of duplicates.
- Developed and implemented MRO Inventory & Warehouse Audit Process at 4 large Pharmaceutical sites in Europe, highlighting weaknesses in management practices and issues leading to excess stocking.
- Developed the following tools to support effective MRO spare part management: MRO_Master Data Auditor / MRO_Master Data Cleanser / MRO_BOM Builder and Analyser / MRO_Optimiser/ MRO_Management Practice Auditor.