Spare Part Management and Stock Control

Most companies and organizations are reluctant to maintain a comprehensive spare part inventory because they fear that stocking assets like spares is counterintuitive when trying to effectively control operating costs. Practical spare part management is the foundation for reliable plant operation and is crucial to a plant manager's success. Plant managers are expected to identify ways to reduce costs while maintaining the performance and efficiency of plant operations.
 

This training course is designed to provide participants with relevant knowledge and understanding of spares management and inventory control in the maintenance, repair, and operations (MRO) environment, including activities in an organization that ensure the optimal and timely availability of spare parts in order to meet maintenance timely demands. 

• Gain an understanding of product specification and the implications of holding items.
• Understand categories of stock and ways to tailor stockholdings.
• Understand the latest techniques and methods in managing inventory to reduce and eliminate inventory obsolescence.
• Learn the techniques that can be used in order to identify, control, and coordinate the spare parts requirements on a daily and long-term basis.
• Identify the savings that can be made from implementing an effective and economic spare parts stores system using both manual and computer systems.
• Apply methods of determining levels of stockholding,
• Produce an action plan designed to reduce stockholding.