MRO Spare Parts Optimisation and Inventory Cost Reduction

Most if not all industries have a storeroom to keep parts of their equipment they need from time to time but not all these industries have the knowledge or know how to manage their storeroom and spare parts. In fact, the Storeroom and Spare Parts is one of the functions on where maintenance can save on cost and almost every industry have a horrible story to tell on their storeroom that they have experience. With the absence of a sound strategy on spare parts most of us rely on vendor on what to stock which end up as non-moving most of the time.

Salvo Global’s MRO Spare Parts Optimization & Inventory Cost Reduction course will help attendees learn proven strategies on how they can improve and optimize their spare parts and storeroom. This might be the missing link in improving your reliability and maintenance strategy.

 

The training focuses on 6 main themes to support cost reduction:

  • Improving Processes & Procedures
  • Improving Master Data Quality from vendors
  • Achieving consistent & effective Cataloguing
  • Achieving Spares Standardising & Rationalisation (standardising, removing duplicates, identifying OPMs, removing unwanted items)
  • Reliability Principles that impact spares usage
  • Conducting Spares Optimisation (right replenishment strategy and the right stock control levels)
  • Developing KPIs at line item level

There are very few courses conducted that deal with the practical issues of spares cataloguing, optimising spares and stock reduction.

Top Learning Objectives

  • Analyze ISO5500 and what it means for inventory management
  • Learn how to achieve consistent cataloguing
  • Review the different costs associated with spares management
  • Understand the techniques to improve reliability resulting in less spares usage
  • Discover how to select the right inventory policy for fast and slow-moving parts
  • Hear good practices related to SPIR forms
  • Learn how to evaluate safety stocks scientifically
  • Understand how to determine how many to buy
  • Master the strategies to minimize stock
  • Discuss how to justify the financial case for high value spares
  • Know how to measure inventory performance
  • Discuss what can be done in-house and what can be done with specialist software

Who Should Attend?

Executive, Senior, and Section Managers, Superintendents, Engineers, Technicians, OEM, Contractors, Suppliers, Planners/Schedulers, Store & Warehouse from:

  • Maintenance
  • CMMS
  • Warehouse
  • Inventory
  • Asset Management
  • Spares Management
  • Operations
  • Materials
  • Purchasing
  • Logistics
  • Supply Chain
  • Reliability
  • Project
  • Technical Support
  • Procurement
  • Cataloguing

Also, organisations wishing to move away from reactive management to proactive stock management and, organisations wishing to comply with the requirements of and/or standards; or simply, improving asset life cycle with Material Management Optimization.

EVENT SCHEDULE

Face-to-Face Masterclass
Date: 22nd – 24th April 2024
Time: 8:30 AM – 4:30 PM
Location: Makati, Philippines


“Good example of spares management, concepts and techniques used for optimization of spares”
– Shell

“These programs enable us to learn more details on Spares inventories”
– Petronas Gas Berhad