Spare Parts Optimisation

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About this Training Course

Assetivity offers this course as a basic skills course for spare parts stakeholders – including supply, maintenance and operations. We will show participants how all of these organisational elements must work together to establish the optimum spares strategy for a particular situation, as well as to continually review and improve that strategy.

Participants will gain an understanding of:

  • The principles of spare parts optimisation in a maintenance repair and operating (MRO) environment
  • Techniques for evaluating the factors that influence the spares holding decision
  • Alternative solutions to large inventory

Effective application of these principles and techniques will simultaneously drive both reductions in inventory value and increases in inventory performance.


Who Should Attend

All personnel with an interest in the spare parts inventory, including those from the following functions:

  • Stores
  • Material Planning
  • Operations
  • Quality Control
  • Finance
  • Purchasing/Procurement
  • Supply Chain
  • Maintenance
  • Application and Service Engineers


Training Course Duration

1 Day



This course leverages off Assetivity's extensive experience in leading-edge Maintenance practices as well as Inventory Management
processes in a wide variety of industries, including mining, mineral processing, oil and gas, utilities, manufacturing, transport and defence. 


Learning Objectives

By the end of this course, participants should (as a minimum) be able to:

  • State the value proposition for spare parts holdings with respect to the business goals
  • Apply an equipment criticality process to identify critical spares
  • Apply analysis techniques to identify candidates for inventory optimisation
  • Estimate the key factors in a spares holding decision:
    • Demand for the spare, including from both preventive and corrective maintenance
    • The holding cost for the spare
    • The cost of a stock outage for the spare
    • The number of spares required to achieve an acceptable level of risk of an outage
  • Identify alternative solutions to holding spares
  • Describe the importance of a continuous improvement approach to spares holdings



This course is not formally assessed, though participants undertake case studies and exercises to ensure their new knowledge transfers into practical skills and the confidence to apply them in the workplace.


Training Course Content

Key Concepts for Spare Parts Optimisation

  • The need for spares
  • Why you may need SPO
  • Enough is enough
  • Definitions and terminology
  • Exercise – Inventory KPIs

The 10 Step SPO Process

Step One – Determine Scope of Analysis

  • How to select equipment for analysis
  • Documenting the scope

Step Two – Review Catalogue

  • Collecting & purifying data
  • Confirming criticality
  • Activity – Eliminate Duplicates
  • Exercise – Determine Criticality

Step Three – Check for Supply Issues

  • Locating and reviewing additional inputs

Step Four – Review Insurance Stock

  • Dealing with insurance stock
  • Activity – Insurance Stock Review

Step Five – Review Consumable Stock

  • Dealing with consumable stock
  • Usage Based Analysis
  • Exercise – MIN Stock Calculation
  • Activity – Consumable Stock Review

Step Six – Review Rotable Stock

  • Dealing with rotable stock
  • Activity: Rotable Stock Review

Step Seven – Gain Approval

  • Facilitating timely approvals

Step Eight – Implement Recommended Actions

  • Managing change

Step Nine – Track Success

  • Using performance measures

Step Ten – Continuous Improvement

  • The Journey to Operational Excellence
  • The PDCA cycle and the Deming wheel


Training Course Cost

$850 (ex GST) per person.  

Early Bird Discount = $85.

Discounts apply for multiple attendees from the same organisation:

2-3 attendees = $765 per person

4+ attendees = $680 per person.


Training Course Dates and Registration

  • Click here to view the dates and locations when this course is currently scheduled to run.
  • This course can be run in-house for your organisation at a time and location that suits you. This email address is being protected from spambots. You need JavaScript enabled to view it. to discuss this further and obtain a price quotation.

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Upcoming Training Courses

Monday, 16 Aug 2021 - Friday, 20 Aug 2021
Location: Perth

Monday, 23 Aug 2021 - Friday, 27 Aug 2021
Location: Perth

Monday, 23 Aug 2021
Location: Perth

Tuesday, 24 Aug 2021 - Wednesday, 25 Aug 2021
Location: Perth

Thursday, 26 Aug 2021
Location: Perth

Friday, 27 Aug 2021
Location: Perth

Monday, 6 Sep 2021 - Friday, 10 Sep 2021
Location: Sydney