Materials and Spare Parts Management 

24 Training Hours

 

Introduction

 

 

Spare Parts Management includes all functions from the supplier through to the point of use. – identification and coding, criticality classification, procurement, quality inspection, stocking policies, links to work planning (kitting, staging), supplier management and internal performance. 

 

Spare parts management is a critical component of world class asset management to ensure that right spare part and resources are at the right place at the right time to support maintenance to do the right job at the right for the right reason.

 

Maintenance materials are a major part of operating costs; it’s essential to avail what is needed when it is needed to positively impact productivity, reliability, morale, and the bottom line. Spare Parts Management is a key process that supports effective maintenance planning and scheduling and equipment reliability improvement by increasing the efficiency of the maintenance department, lowering the Mean Time to Repair (MTTR), increasing the critical equipment availability, and therefore increasing the profit margin. 

 

Objectives

 

• Setting inventory levels

• Identifying and managing critical spares

• Developing policies

• Identifying and applying best practices

• Optimizing inventory levels

• Achieving high levels of stock accuracy

• Managing the storeroom

• Implementing change Developing End-Of-Life (EOL) plan and calculate Last-Time-Buy (LTB) 

• Understanding how to manage rotating and repairable spares

• Identify the key performance indicators

• Explain the process used to identify best practices.

• justifiable Re-Order Point (ROP), Economic Order Quantity (EOQ) and Recommended Order Quantity (ROQ) levels

• spare parts management in the business context

• Seven considerations to help enhancing performance,

• Identify key performance indicators

 

Methodology

 

This course was developed using over 30 years of experience of world class best practices. The focus is on value adding business decision making process and understanding how manage critical physical assets.

 

The exchange of instructor and students’ experiences, case studies and practical exercise complements positively the lecture.

 

Benefits

 

​• Classifying parts business criticality

• Understand how to calculate and the meaning of ROP’s, Safety Stocks and EOQ’s  

• Right parts, at the right time, with the lowest possible cost at the minimum inventory value. 

• Know how to create and classify a spare part 

• Understand all processes related to spare parts management 

• Understand and know how to use the right metrics and reports to manage Spare Parts and Inventory 

• Increase Asset Maintainability and Availability to World Class Standards.

• Decreased unit cost of production.

• Better business decision making.

• Sustainable increased profit margin.

​

Who should attend?

 

Both experienced industry personnel looking to take their career to the next level as well as management who want to take their facility to the next level.

 

This workshop will provide students with world-class, interactive, training to understand the importance of Materials and Spare Parts Management and its impact on Asset Management in achieving overall management excellence.

 

​​

​• VPs and directors

• Supply Chain Managers

• Stores Managers

• Maintenance Managers

• Maintenance Engineers

• Maintenance Planners

• Reliability Engineers

 

​​

​

Key Topics

 

• What is the concept behind Reliability Based Materials and

Spare Parts Management?

• What exactly is Master Data and how to gather and maintain it

• Spare parts classification best practices

• Determining spare part criticality based on risk

• Stocking decisions

• Service level agreement

• Inventory levels

• Best practices in Storeroom organization

• Controlling inventory

• Quality Program