Effective Spare Part Management

Introduction

The management of spare parts and other materials needed for realization of the maintenance process is one of the key functions in physical asset management. Especially, for example, in the military and large public property ownership, power generation, chemical, motor and petrochemical industries, spare parts inventories can soon add up to tens of thousands of various items in a value of hundreds of millions RM. It is obvious that efficient spare parts inventory management can bring significant economies in operational costs. This workshop describes with examples how those economies can be made.

 How Will You Benefit

Upon completion of this programme, the participants will be able to :

• Describe the savings that can be made from implementing an effective and economic spare parts stores system using both manual and computer systems.
• Show the techniques which can be used in order to identify, control and coordinate the spare parts requirements on a daily and long-term basis.
• Discuss the requirements for making economical choices for which special strategic/critical spares should be held, and options for how they may be managed
• Understand the latest technique and methods in managing inventory to reduce and eliminate inventory obsolesces.

Who Should Attend

This program is suitable for Managers, Executives, Officers, Team/Line Leaders and Supervisors.

Methodology

This is a highly interactive training programme, whereby participants are to gain the learning points through experiential activities.

Module