ENERGY1 - 25 point action Plan: Reduce Stock levels, Spares Costs and Stocking Costs
27 Nov - 29 Nov, 2017 Manila, Philippines SGD 2779 Closed
Following information: Venue at Manila, Philippines | Training Date from 27 Nov 2017 till 29 Nov 2017
Early Bird Discount
Standard Price
3 day/s
SGD 2500 Purchase it before 08 Feb 2017
SGD 2779
Many companies do a bad job at managing their inventory effectively; there are many reasons for this. But it starts with bad submission of RSPLs, poor cataloguing and the selection of initial spares.

This practical newly structured 3 day workshop covers every aspect related to reducing inventory and costs of spares parts and is supported by case studies, software and practical exercise to aid understanding. The techniques allow you to immediately apply them in the workplace and start to reduce cost.

There are very few courses conducted that deal with the practical issues of spares cataloguing, optimizing spares and stock reduction. After this course, delegates will leave the workshop with tools and techniques that they can immediately apply in their own companies and start to reduce costs.

An Excel Analysis worksheet containing all formulae will be provided to conduct an audit of current inventory parameters.
Two analysis techniques will be covered; first using probability for normal operating and consumable spares and the second using simulation (modelling) techniques for high value spares with logistic issues.

The course is of particular benefit to companies who:
Want to audit their spares data quality or 
Need to upgrade their CMMS
Want to reduce inventory levels and costs

Many case studies will be shown including reduction of 50-70% in line items 

Delegates are required to bring laptop to conduct the numerous exercises. This course has a new structure designed to focus more to reduce stock levels, spares costs and stocking costs - and provide additional exercises using the optimization techniques in addition to include how to conduct improved CMMS spares cataloguing.

ISO5500 and what it means for inventory management
How to achieve consistent cataloguing
The different costs associated with spares management
Learn techniques to improve reliability resulting in less spares usage
How to select the right inventory policy for fast and slow moving parts
Good practices related to SPIR forms
How to evaluate safety stocks scientifically
How to determine how many to buy 
Learn strategies to minimise stock
How to justify the financial case for high value spares
How to measure inventory performance
What can be done in-house and what can be done with specialist software
  • Introduction to Spares Management
  • Improving RSPL Data from Vendors 
  • Effective Spares Cataloguing 
  • Inventory Cost Reduction Programme
  • Spares Parts Cost
  • Reliability Theory Related to Spares
  • Challenge Vendors Recommended Quantities
  • Setting Re-Order and Safety Stock Levels
  • How Many to Order? Determining the EOQ
  • Auditing current inventory Parameters effectiveness
  • Database Solution
  • Evaluate policies for insurance spares 
  • Alternative Spares 
  • KPI Reporting system
  • Course Review and Delegates Action Plan
The Course is designed to:

Purchasing & Logistics
Anyone involved in cost control for spares and materials
Project and Design Engineers who have an interest in how to minimize risk and costs of spare part inventories. 
Engineers responsible for specifying, buying spares and setting up the spares information in the CMMS.
Anyone who want to reduce Maintenance OpEx.

Previous Attended Job-titles: Inventory Management, Maintenance Department , warehouse , Maintenance mechanical, Inspection & Data Management, Production , Material , Instrument & Control, Maintenance & Reliability , Buyer , Procurement & contract, Planner , Store controller, CMMS coordinator, Supply chain management , Plant Engineer, Equipment Analysis and Central service Manager.

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