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Advanced Spare Parts Management Course

The following modules provide the content for the Advanced Spare Parts Management Course.

You can study the modules in any order that you choose but you must complete all 8 quizzes to be awarded the certificate.

The pass mark for each quiz is set at 80%.

Quiz links are available on the page for each individual module.

Click here to return to the Pro Level welcome page.
 
advanced spare parts management certificate
 
 
 
 
 
 
 
 
 

Introduction to Spare Parts Inventory Management (INT1)
This module consists of 4 lessons.

Lesson 1: Introduction
Lesson 2: Collaboration
Lesson 3: Financial Considerations
Lesson 4: Key Consideration for Managing Your Inventory

Learning outcomes:

  • Why maintenance spare parts inventory is different from other types of inventory
  • 5 common supply chain techniques that should not be used with maintenance spare parts inventory
  • How maintenance, spare parts management, and procurement fit into the big picture
  • The 5 key financial principles for spare parts management.
  • How to identify and interpret the key financial reports associated with spare parts management

Click here to start working through this module

Critical Parts and Stock Level Decision Making (SDM1)
This module consists of 4 lessons.

Lesson 1: Introduction
Lesson 2: Critical Spare Parts
Lesson 3: Deciding What to Stock
Lesson 4: Deciding How Many to Stock

Learning outcomes:

  • How to decide whether or not to stock an item in inventory
  • How to select spare parts for new capital equipment (First-Time-Buy)
  • How to identify and manage critical spare parts
  • How to determine the most appropriate re-order point (ROP)
  • How to determine the most appropriate re-order quantity (ROQ)

This course also includes decision-making exercises to test your know-how.

Click here to start working through this module

Spare Parts Inventory Optimization (OPT1)
This module consists of 4 lessons.

    Lesson 1: What is Inventory Optimization?
    Lesson 2: Three Ways to Optimize
    Lesson 3: The Inventory Cash Release Process
    Lesson 4: Other Optimization Techniques

    Learning Outcomes:

    • The general principles of inventory optimization
    • How to treat critical spare parts in an optimization program
    • How to correctly analyze and segment spare parts inventory using the Pareto Principle
    • How to apply the ICR® Process to optimize your spare parts inventory
    • How and when to apply alternative inventory optimization techniques

    Click here to start working through this module

Spare Parts Management Best Practices (SBP1)
This module consists of 1 lesson.

Lesson 1: Spare Parts Management Best Practices

Learning outcomes:

  • The process we used to identify best practices.
  • The best practices that are shown to make a genuine difference to spare parts inventory management outcomes.

Click here to start working through this module

Metrics, Reporting and Policies (MRP1)
This module consists of 4 lessons.

Lesson 1: Metrics and Reporting
Lesson 2: Stock Turns and Inventory Management
Lesson 3: The Recommended Suite of Policies
Lesson 4: Policy Development and Implementation

Learning outcomes:

  • Identify the key elements of a spare parts management system
  • Explain what policies are and why they are important
  • Identify the suite of key spare parts management policies and understand what each policy should contain
  • Identify the the key performance indicators required for effective spare parts inventory management
  • Understand the impact of long supply chains and how to improve performance
  • Explain the differences between single and multi-echelon systems and how this affects spare parts management

Click here to start working through this module

The Storeroom: Physical Management (SRM1)
This module consists of 3 lessons.

Lesson 1: Introduction to Storeroom Management
Lesson 2: Physical Storeroom Management
Lesson 3: Obsolescence and Disposal

Learning outcomes:

  • The issues and potential responses for managing slow moving inventory
  • The difference between vendor-led and owner-led obsolescence and the implications of each
  • How to develop an End-Of-Life (EOL) plan and calculate Last-Time-Buy requirements
  • Managing spare parts disposal and how to pro-actively manage spare parts obsolescence and disposal
  • The 7 different disposal options and the benefits of each
  • The pros and cons of storeroom location decisions
  • The physical issues of storeroom management, including layout, storage issues, labelling, and work flow
  • Understand how to manage rotable and repairable spares

Click here to start working through this module

The Storeroom: Procedural Management (SRM2)
This module consists of 4 lessons.

Lesson 1: The Procedural Storeroom
Lesson 2: Spare Parts Identification and Cataloging
Lesson 3: Managing Inventory Accuracy
Lesson 4: Bar Coding

Learning outcomes:

  • The issues in developing a spare parts identification system
  • The pros and cons of spare parts standardization
  • How to improve results with high quality materials data
  • The difference between Accounting Accuracy and Storeroom Accuracy and why it matters
  • The factors that most directly affect spare parts inventory accuracy
  • Planning for the three phases for conducting successful stock takes
  • The actions required to achieve a 100% accurate inventory
  • The practical application of bar codes

Click here to start working through this module

Program Implementation (PIE1)
This module consists of 3 lessons.

Lesson 1: Pilot Programs
Lesson 2: The Optimization Trap
Lesson 3: Developing an Action Plan

Key Learning Objectives

  1. Why and how to use pilot programs to manage risk and roll out for spare parts management initiatives
  2. The failing of inventory review programs
  3. How to implement a program of spare parts inventory reduction
  4. Identifying who to involve in an inventory review program
  5. How to chose an inventory review champion
  6. How to integrate inventory reduction with your existing inventory management

Click here to start working through this module

 
 


Advanced Spare Parts Management Course Training Support


If you have a question about anything relating to the content of the Advanced Spare Parts Management Course then you can use this form to email us your question. We will provide a prompt response guiding you to the right answer.
 
 
Online support provided by: Phillip Slater
 

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Asset Recovery


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Reliability and Maintenance Education


The Reliability & Maintenance Center at the University of Tennessee, Knoxville, provides comprehensive programs of education in reliability and maintenance practice. Read more... RMC

Spare Parts Management Consulting


Phillip Slater, Founder of SparePartsKnowHow.com, spare parts inventory management specialist, consultant, guide, and mentor. Read more... Phillip Slater  

Online Resources, Training, and Support


SparePartsKnowHow.com: The most comprehensive online resource dedicated to spare parts inventory management. Visit the  Welcome page to read more >>> spare parts alliance

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