The following modules provide the content for the Advanced Spare Parts Management Certificate.
You can study each module 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.
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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
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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.
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This module consists of 4 lessons.
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Lesson 1: What is Inventory Optimization?
- 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
Lesson 2: Three Ways to Optimize
Lesson 3: The Inventory Cash Release Process
Lesson 4: Other Optimization Techniques
Learning Outcomes:
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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.
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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
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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
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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
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This module consists of 3 lessons.
Lesson 1: Pilot Programs
Lesson 2: The Optimization Trap
Lesson 3: Developing an Action Plan
Key Learning Objectives
- Why and how to use pilot programs to manage risk and roll out for spare parts management initiatives
- The failing of inventory review programs
- How to implement a program of spare parts inventory reduction
- Identifying who to involve in an inventory review program
- How to chose an inventory review champion
- How to integrate inventory reduction with your existing inventory management
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Advanced Spare Parts Management Certificate Training Support
If you have a question about anything relating to the content of the Advanced Spare Parts Management Certificate 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