COURSE OVERVIEW

This practical and highly-interactive course includes real-life case studies and exercises where participants will be engaged in a series of interactive small groups and class workshops. 

 

This course is designed to provide participants with a detailed and up-to-date overview of Maintenance Repair and Operations (MRO) Materials Spare Parts Inventory Optimization and Cost Reduction. It covers the MRO and spare parts covering its definitions and scope, types of spare parts and role of MRO in asset reliability and uptime; the spare parts classification and criticality, MRO lifecycle management, failure modes and inventory planning and MRO and maintenance planning interface; the key performance indicators (KPIs) for MRO, inventory management principles, inventory cost categories and cost drivers and inventory optimization techniques; the vendor managed inventory (VMI) and consignment stock, critical spares and insurance spares management; and the inventory rationalization and cleanup. 

 

During this interactive course, participants will learn the spare parts catalogue standardization, material master data management, spare parts numbering and identification and integration with CMMS and ERP systems; the bill of materials (BOM) development and maintenance, digital tools and MRO technology and spare parts procurement strategies; the supplier relationship and evaluation, cost reduction through strategic sourcing and storage and warehousing best practices; the inventory accuracy and physical controls, emergency and breakdown spares handling and linking spare parts to reliability and RCM; the KPI dashboards and continuous improvement, lean maintenance and inventory principles; and the sustainability and green inventory management.