Learn to evaluate and optimise your spare parts management.

We offer 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.

Key outcomes

By the end of this course, you will (at 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

Course outline

  • The need for spares
  • Why you may need SPO
  • Enough is enough
  • Definitions and terminology
  • Exercise – Inventory KPIs
  • How to select equipment for analysis
  • Documenting the scope
  • Collecting & purifying data
  • Confirming criticality
  • Activity – Eliminate Duplicates
  • Exercise – Determine Criticality
  • Locating and reviewing additional inputs
  • Dealing with insurance stock
  • Activity – Insurance Stock Review
  • Dealing with consumable stock
  • Usage Based Analysis
  • Exercise – MIN Stock Calculation
  • Activity – Consumable Stock Review
  • Dealing with rotable stock
  • Activity: Rotable Stock Review
  • Facilitating timely approvals
  • Managing change
  • Using performance measures
  • The Journey to Operational Excellence
  • The PDCA cycle and the Deming wheel
10 May 2024
7 Jun 2024
28 Jun 2024
19 Jul 2024
23 Aug 2024
11 Oct 2024
18 Oct 2024
8 Nov 2024
6 Dec 2024

Spare Parts Optimisation

  • Brisbane, Melbourne, Perth
  • From $877.50 excl. GST
  • Online duration: 8 hours
  • Face to face duration: 8 hours

Group discounts applied in cart.

Receive up to 20% off.

Group discounts are available for all courses. Receive 10% off when booking at least 2 attendees, or 20% off when booking at least 4 attendees.

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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

Accreditation and assessment

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.

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.

Customise this course to match your training needs.

We realise that your challenges may be unique, so we welcome enquiries regarding customising or expanding any of our courses to meet your specific training needs. An obligation-free discussion with one of our expert consultants is a great place to start.