Course code: SP04
Delivery method: Self-paced, online
Training Course Content
The self-paced Spare Parts Policy Development Training Course teaches you how-to develop a suite of spare parts inventory management policies that will ensure correct management and control of your spare parts inventory decision making.
Using this know-how you can then apply our policy templates to develop your tailored policies. (The policy templates are not included in this course and can be purchased separately. Contact us.)
Building on a general understanding of spare parts inventory management and best practice this course shows you how to take that insight to create a suite of spare parts management policies.
Please note that this course is delivered via the course modules online.
Training Course Structure
The self-paced Spare Parts Policy Development Training course consists of 4 modules from our Advanced Spare Parts Management program:
- Module 1: Introduction to Spare Parts Inventory Management
- Module 2: Stock Level Decision Making
- Module 4: Spare Parts Management Best Practices
- Module 5: Metrics, Reporting and Policies
Please note that all course content is provided in the course modules online.
What You Will Learn
- What spare parts management policies are and why they are important.
- The suite of key spare parts management policies and what each policy should contain.
- How to identify the the key performance indicators required for effective spare parts inventory management.
- The impact of long supply chains and how to improve performance in that circumstance.
- The key elements of a spare parts management system.
- The differences between single and multi-echelon systems and how this affects spare parts management.
- The characteristics that differentiate spare parts inventory from other types of inventory.
- The 5 common supply chain techniques that should not be used with spare parts inventory.
- How spare parts management fits into the big picture of operations management.
- The 5 key financial principles for spare parts management.
- How to identify and interpret the key financial reports associated with spare parts management.
- The 7 questions that need to be asked before deciding whether or not to stock an item in inventory.
- How to determine the requirements for selecting and stocking spare parts for new capital equipment (first time buy).
- How to identify critical spare parts.
- How to determine appropriate re-order points (ROP) and re-order quantities (ROQ) – complete with exercises to test your know-how.
- 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.
Plus from our Advanced Spare Parts Management Training program:
Who Is It For?
The self-paced Spare Parts Policy Development Training course is designed for those people who are specifically interested in the tactical issues of spare parts management. That is, establishing decision-making frameworks and guidelines for control.
This course is for companies that keep spare parts to support the maintenance and operations of their own assets and equipment. This is often referred to as MRO.
Training Course Length and Time Commitment
This course allows you to study at your own pace and you have up to 3 months to complete all the modules.
We recommend a minimum time commitment of 2.5 hours per week.
Studying at this rate will enable you to complete the training within the allocated time and leave some time for review.
Of course, if you have time, you can work through the content faster than that. The choice is yours.
Coaching and Tutorial Support
Online course-related coaching and tutorial support is provided via our exclusive online coaching function.
Training Course Assessment
Each module includes an online quiz. Successfully completing all four of the online quizzes leads to the award of our Spare Parts Policy Development 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.
Total investment in this program is $249.00
Payment is accepted via credit card and PayPal.
For other enrollment options please visit our How to Enroll page.
Once you have enrolled, CLICK HERE to access the course content