Course code: IL03
Delivery method: Instructor-led, online
Instructor: Phillip Slater
Prerequisites: The Basics of Spare Parts Management, Best Practices in Spare Parts Inventory Management
When does this course start? Click here to visit the timetable page.
Training Course Content
The instructor-led Spare Parts Policy Development Training Course:
- identifies the suite of spare parts inventory management policies that will ensure correct management and control of your spare parts inventory decision making
- shows you what those policies should contain
- includes templates of policies that you can use to develop your own tailored policies. (The policy templates are included in this course).
Training Course Structure
The instructor-led Spare Parts Policy Development Training course consists of 3 online sessions, utilizing material from our training modules and our policy templates
- Session 1: Metrics and reporting, stock turns and inventory management
- Session 2: The recommended suite of policies, policy development and implementation
- Session 3: Review of policy templates and their application
Please note that all course content is provided online.
In addition, you can elect to have a one-on-one follow up session to review the policies you develop from this program. Please note that there is an additional fee charged for this service.
What You Will Learn
- What spare parts management policies are and why they are important.
- The #1 reason why existing policies fail to deliver the expected outcomes
- The recommended suite of key spare parts management policies
- What each policy should contain
- How to develop the policies you need
- 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 (hint: its policy related!)
It is a key expectation that from this course you will be able to develop and implement tailored policies that suit your organization.
Who Is It For?
The instructor-led Spare Parts Policy Development Training course is designed for those people who are specifically interested in developing appropriate decision-making frameworks and guidelines for spare parts inventory 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 is delivered over a period of 3 weeks. During that time we hold three 90-minute online sessions.
Following an initial orientation session, participants get access to the course content. This is one week before the first online session.
It is expected that participants will review the specified lessons prior to each online session.
We recommend a time commitment of 3 hours per week for study plus 1.5 hours for the online sessions.
In addition, following the course you will need to spend time using our templates to develop your own tailored policies.
From the initial orientation session participants receive 1 month access to the course content and use of our online coaching for follow up and review.
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.
Training Course Assessment
This module includes an online quiz. Successfully completing the online quiz leads to the award of our Spare Parts Policy Development Course certificate. We set the ‘pass’ level for this quiz at 80%.
Please note that the course certificate will be forwarded to your registered email address within 7 days of course completion.
Please note that this course has prerequisites.
You need to have completed both the Basics of Spare Parts Management course and the Best Practices in Spare Parts Inventory Management course BEFORE commencing this course. These courses can be completed as either instructor-led or self-paced.
Investment in the instructor-led training portion of this course is $650.00
This includes the course access, instruction, and our policy templates.
Post course review of your new policies can be provided for just $500, if purchased at the time of enrollment.
Payment is accepted via credit card and PayPal.
For other enrollment options please visit our How to Enroll page.
Refund policy: for instructor-led training we provide the following refund policy.
Up to 2 weeks prior to course commencement cancellations are allowed but will incur a $50.00 admin fee.
Within the 2 weeks prior to course commencement there is no refund for cancellation, however, you may switch courses or substitute another participant.
Once the course commences there are no refunds, switching, or substitutions.
Prior to course commencement we will provide links for the online sessions and for access the course content.