Course code: SP01
Delivery method: Self-paced, online
Prerequisites: None
When does this course start?: On demand
Course Summary: Basics of Spare Parts Management
The Basics of Spare Parts Management course:
- provides a general introduction to spare parts inventory management
- shows you how to identify critical spare parts
- teaches you how to set your ReOrder Point (ROP) and ReOrder Quantity (ROQ) without significant data or confusing formulas
Course Structure
This course consists of 2 learning modules. The choice is yours whether you read one article during your lunch break or study a whole module intensively.
Introduction to Spare Parts Inventory Management (INT1)
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
Critical Parts and Stock Level Decision Making (SDM1)
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.
Please note:
* All course content is provided in the course modules online.
* This course does not give you access to our full library and other advisory features. If you are after more than the basic certificate then we suggest that you review our Full Access and Support membership.
Who Is It For?
The Basics of Spare Parts Management course is for anyone engaged in the day-to-day activities of spare parts management and decision-making. This includes: storeroom, spare parts management, supply chain, procurement, maintenance, planning, and finance.
Course Time Commitment
As this course is self-paced, you can work through the content at a pace that suits you.
The course structure means that you can work through the content in ‘bite-sized’ chunks. The choice is yours whether you read one article during your lunch break or study a whole module intensively.
You have 3 months access to the course content.
Online Coaching and Tutorial Support
Course-related coaching and tutorial support is provided via our exclusive online coaching function.
Basics of Spare Parts Management 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 your registered email address within 7 days of course completion.
Training Investment
Your investment in this program is $249.00 per person
Online payment is accepted via credit card and PayPal.
For other enrollment options please visit our How to Enroll page.
Please note that this is course is also available for groups as an instructor-led program.
Please contact us for more information.
Once you have enrolled, CLICK HERE to access the course content