Course code: IL01
Delivery method: Instructor-led, online
Instructor: Phillip Slater
When does this course start?
This course is only available as an in-house company program.
Contact us to discuss your needs.
The Instructor-led Basics of Spare Parts Management (IL01) course provides your team with:
- a general introduction to spare parts inventory management
- the know-how to identify critical spare parts
- specific techniques for setting ReOrder Points (ROP) and ReOrder Quantities (ROQ) without significant data or confusing formulas
The Basics of Spare Parts Management (IL01) Training Course consists of 4 online sessions:
- Session 1: Introduction to spare parts inventory management and understanding the big picture
- Session 2: Financial principles and key considerations for managing inventory
- Session 3: Safety stock, capital equipment, first time buy, and identifying critical spare parts
- Session 4: Deciding what to stock, forecasting, and calculating the ROP and the ROQ
Please note that all course content is provided in the course modules online.
- 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.
- 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.
It is expected that participants will review the specified lessons and complete the exercises prior to each online session.
Who Is It For?
The Basics of Spare Parts Management course is for all of your team engaged in day-to-day spare parts management and decision-making. This includes: storeroom, spare parts management, supply chain, procurement, maintenance, planning, and finance.
Participants receive 3 months access to the course content and use of our online coaching for follow up and review. During the first 4 weeks we hold four 90-minute online sessions.
Online Coaching and Tutorial Support
In addition to the live online sessions, online course-related coaching and tutorial support is provided via our exclusive online coaching function.
Basics of Spare Parts Management (IL01) Course Assessment
This course includes two online quizzes (one for each module). Successfully completing each leads to the award of our Basics of Spare Parts Management Course certificate. We set the ‘pass’ level for these quizzes at 80%.
Please note that the course certificate will be forwarded to the registered email address within 7 days of course completion.
Investment in this instructor-led program on will be quoted on application.
Payment for this program is via invoice only.