Introduction
Many companies do a bad job of managing their inventory effectively; there are many reasons for this. But it usually starts with bad submission of SPIRs, cataloguing and selecting initial spares.
This practical workshop covers aspects related to reducing inventory and costs of spare parts and is supported by case studies, software and practical exercises to aid understanding. There are very few courses conducted that deal with the practical issues of spares cataloguing and optimising spares.
After this course, delegates will leave the course with tools and techniques that they can immediately apply in their own companies and start to reduce costs.
Excel Analysis worksheets containing all formulae will be provided to conduct your analysis.
Two analysis techniques will be covered; first using probability and the second using simulation (modelling) techniques for high value spares with logistic issues.
Objectives
- To highlight current problems with spares management
- To improve cataloguing of spares
- To show how determine when to order scientifically - the reorder point
- To show how many to order
- To discuss principles of rationalising spares
Training Methodology
Use of PowerPoint slides, case studies, exercises using provided Excel Worksheets & discussions
Organizational Impact
- Reduce inventory carrying costs
- Reduce stock turn ratios
- Reduction in duplicate stock
- Decision support techniques for high value, long lead time spares
- Reduction in lead times
Personal Impact
- Understand the stock management process
- Raise awareness of how to select inventory levels
- How to cataloque consistently
- How to reduce stock outs and lead times
Who Should Attend?
- Maintenance Managers
- Engineers
- CMMS Key users
- Analysts
- Warehouse managers and supervisors
- Project Engineers
- Spares and Inventory Personnel
SEMINAR OUTLINE
DAY 1
Introduction to Stock Management & Optimisation
- Common problems with stock management
- Terms and definitions
- Initial spares and replenishment process
- Different stocking costs associated with stocking spares
- Spares types
- Spares categories
- Estimating lead times
- Stock replenishment strategies
- Exercise lead time
DAY 2
Effective SPIRS and Cataloquing
- Purpose of the SPIR
- Why they are submitted badly
- Poor examples/case studies
- Stock Item coding and naming conventions
- Major differences Maximo & SAP
- Should We Stock
- Exercise cataloguing
DAY 3
Introduction to Failure Statistics & Setting ROPs, Safety Stock
- Definitions
- Failures & Spares
- How to measure reliability
- Weibull analysis
- Options for determining safety stock
- Poisson Distribution for low, medium and fast movers
- Effect of Service Level
- Determine ROPs & Safety Stock
DAY 4
How Many to Order & Optimising Spares
- Exploring order quantity formula
- Effective of ordering too many or too few
- How the formula doesn’t work every time
- Determine initial spares parameters (using Excel Worksheet)
- Estimating annual issue quantities
- Evaluating current stock levels and parameters
- KPIs for spares
- Excel versus MS Access
- Evaluate Insurance Spares
- Exercises using Excel Analysis Worksheet
DAY 5
Spares Work Process & Auditing Work Processes
- Work process for spares and purchasing management
- Audit work process
- Planning the audit
- Conducting the audit
- Identifying issues and corrective actions
- KPI reporting System
- Exercise auditing a work process
