Spares Optimization

Learn How to Ensure That the Right Spares are Always Available When Needed

Introduction:

Poor spare management and the lack of optimization can lead to a considerable loss of production. This training course teaches participants to differentiate between the characteristics of slow and fast-moving spares, as well as determining the criteria that effect the optimum spares holding levels of slow-moving spares, and finally establish optimum strategic and slow-moving spares levels using these criteria.

Objective:

The course objective is to reduce cost and manage risk by optimizing the spares process by using decision support as well as other methods designed specifically for the evaluation of strategic and slow-moving spares.

Content:

Group discussion of the characteristics of slow-moving and fast-moving spares and the factors that do and do not affect the optimum spares holding, as well as an introduction to the general principles of cost/risk/benefit evaluation used to determine the total business impact. Participants then work through a number of practical case studies using cost/risk/benefit processes to determine the optimum spares holding in each case.

Analyses include:

  • Data accuracy
  • Evaluations of manufacturer’s recommendations etc.
  • Pooled versus dedicated spares
  • Whole equipment versus parts
  • Use of decision support tools

Benefit:

Organizations will gain the ability to set stock holding for strategic and slow-moving spares at an appropriate level when considering cost, risk and benefit, with the goal of reducing cost and managing risk, potentially saving millions of dollars.


Who should attend?

The course is applicable to senior managers, asset managers, maintenance managers, asset planners and managers involved in performance target setting and assessment.


Workshop Pricing & Details:

Deep-Dive Course Outline Will be Available Soon

Workshop Pricing:

  • 1 student: $1,895.
  • 2+ students: $1,595. each*

*Discount applies for students from the same company

Tell us you’re interested in optimizing your spares and send us an email.

Please call our office for information: (917) 554-3444 ext. 101


Interested in learning more about asset management? Join us at The Asset Management Ecosystem Conference or the Smart Infrastructure Forum.