Spare Parts Stock Management

Aim

• Businesses allocate large amounts of resources to spare parts stocks to keep machines running, extend equipment life and reduce downtime.
• The purpose of this training is to teach professionals how to optimize inventory costs by providing them with the skills to identify and manage risks when making backup decisions.

Scope

• Basic concepts
• Spare Parts Costs
• Setting the Right Goals
• Arrangement of Spare Parts Warehouse and Stock Areas
• Classification of Spare Parts
• Service Level and Risk Concept
• Determination of Spare Amount for Spare Parts with High Turnover Ratio
• Application Examples
• Case Studies

Achievements

• Areas that need improvement in the current spare parts stock management process and elements that prevent the system from working properly,
• Spare parts stock management system KPIs and how the process management cycle should be established,
• How different stock levels should be determined according to the variability and frequency of demand,
• The relationship between the concept of reliability and stock management,
• Improvement strategies and actions that involve stakeholders
• You will have the opportunity to learn and practice with real factory examples.