An Interactive 5-Day Training Course
Reducing Costs through Spares Optimisation and Rationalisation
Spares Optimization and Management
Course Overview
Many companies do a bad job of managing their inventory effectively; there are many reasons for this. But it usually starts with bad submission of SPIRs, cataloguing and selecting initial spares.
This practical GLOMACS Reducing Costs through Spares Optimisation and Rationalisation training seminar covers aspects related to reducing inventory and costs of spare parts and is supported by case studies, software and practical exercises to aid understanding. There are very few courses conducted that deal with the practical issues of spares cataloguing and optimising spares.
After this GLOMACS training course, delegates will leave the training with tools and techniques that they can immediately apply in their own companies and start to reduce costs.
Excel Analysis worksheets containing all formulae will be provided to conduct your analysis.
Two analysis techniques will be covered; first using probability and the second using simulation (modelling) techniques for high value spares with logistic issues.
Training Outline
DAY 1: Introduction to Stock Management & Optimisation
- Common Problems with Stock Management
- Terms and Definitions
- Initial Spares and Replenishment Process
- Different Stocking Costs Associated with Stocking Spares
- Spares Types
- Spares Categories
- Estimating Lead Times
- Stock Replenishment Strategies
- Exercise Lead Time
DAY 2: Effective SPIRS and Cataloguing
- Purpose of the SPIR
- Why they are submitted badly?
- Poor Examples / Case Studies
- Stock Item Coding and Naming Conventions
- Major Differences Maximo & SAP
- Should We Stock?
- Exercise Cataloguing
DAY 3: Introduction to Failure Statistics & Setting ROPs, Safety Stock
- Definitions
- Failures & Spares
- How to Measure Reliability
- Weibull Analysis
- Options for Determining Safety Stock
- Poisson Distribution for Low, Medium and Fast Movers
- Effect of Service Level
- Determine ROPs & Safety Stock
DAY 4: How Many to Order & Optimising Spares
- Exploring Order Quantity Formula
- Effective of Ordering Too Many or Too Few
- How the Formula doesn’t Work Every Time
- Determine Initial Spares Parameters (using Excel Worksheet)
- Estimating Annual Issue Quantities
- Evaluating Current Stock Levels and Parameters
- KPIs for Spares
- Excel vs. MS Access
- Evaluate Insurance Spares
- Exercises using Excel Analysis Worksheet
DAY 5: Spares Work Process & Auditing Work Processes
- Work Process for Spares and Purchasing Management
- Audit Work Process
- Planning the Audit
- Conducting the Audit
- Identifying Issues and Corrective Actions
- KPI Reporting System
- Exercise Auditing a Work Process
Certificates
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
What do you need to learn next?
Check our list of courses or let us customize a course for you.
View courses
