Introduction
This Spare Parts & Inventory Optimization (Methods) training course equips maintenance, inventory and materials management professionals with the analytical knowledge and practical techniques required to optimise spare parts inventories while maintaining equipment reliability and operational continuity. Effective spare parts management requires balancing the cost of holding inventory against the risks of stockouts, equipment downtime and delayed maintenance activities. Participants will examine proven inventory optimisation methods for classifying spare parts, forecasting demand, determining stock levels and establishing effective replenishment policies. The course emphasises using equipment criticality, consumption patterns, lead times and operational requirements to make informed inventory decisions. Participants will develop a systematic understanding of how different inventory methods can improve spare parts availability, reduce excess stock and strengthen maintenance support.
The training course explores inventory classification techniques, demand forecasting, economic order quantity, safety stock calculations, reorder point methods and inventory performance measurement. Participants will learn how to apply ABC, XYZ and criticality-based analyses, evaluate intermittent demand and develop appropriate stocking strategies for different categories of spare parts. Particular attention is given to managing slow-moving and obsolete inventory, optimising repairable spares, improving supplier coordination and aligning inventory policies with maintenance plans. The course also examines the role of Computerised Maintenance Management Systems (CMMS) and Enterprise Resource Planning (ERP) systems in supporting inventory control and data-driven decisions. Through practical calculations and structured exercises, participants will strengthen their ability to select suitable optimisation methods, evaluate inventory performance and implement improvements that support cost efficiency and equipment availability.
This GLOMACS Spare Parts & Inventory Optimization (Methods) training course will highlight:
- Applying inventory classification and spare parts criticality methods
- Forecasting spare parts demand and evaluating consumption patterns
- Calculating economic order quantities, safety stocks and reorder points
- Optimising inventory levels for critical and slow-moving spare parts
- Managing repairable, surplus and obsolete spare parts inventories
- Measuring inventory performance and improving replenishment decisions
Objectives
By the end of this training course, participants will be able to:
- Classify spare parts using appropriate inventory analysis methods.
- Evaluate spare parts demand patterns and select suitable forecasting techniques.
- Calculate inventory parameters using established optimisation methods.
- Establish stocking and replenishment policies based on risk, cost and availability.
- Identify opportunities to reduce excess, obsolete and slow-moving inventory.
- Develop practical strategies to improve spare parts inventory performance.
Training Methodology
This training course combines expert-led presentations, inventory management examples, analytical calculations and structured practical exercises. Participants will examine spare parts consumption records, inventory classifications, demand patterns and stock replenishment requirements. Guided exercises will focus on ABC and XYZ analysis, criticality assessment, safety stock calculations, reorder point determination and inventory performance evaluation. The methodology emphasises the selection and application of appropriate optimisation methods to realistic maintenance and materials management requirements without depending on specialised software.
Organisational Impact
Organisations will benefit from:
- Improved availability of critical maintenance spare parts
- Reduced excess inventory and unnecessary carrying costs
- More accurate spare parts stocking and replenishment decisions
- Lower exposure to maintenance delays caused by stock shortages
- Improved coordination between maintenance, inventory and procurement teams
- Stronger inventory performance monitoring and cost control
Personal Impact
Participants will develop:
- Stronger understanding of spare parts inventory optimisation principles
- Improved capability in inventory classification and demand analysis
- Greater confidence in calculating safety stocks and reorder points
- Better ability to evaluate inventory costs and service requirements
- Improved skills in managing slow-moving and critical spare parts
- Greater competence in applying data-driven inventory management methods
Who should Attend?
This training course is specifically designed for professionals directly responsible for spare parts planning, maintenance materials management, inventory control and replenishment decisions, including:
- Spare Parts and Materials Managers
- Inventory Control Managers and Supervisors
- Maintenance Planning and Scheduling Engineers
- Maintenance Materials Planners
- Spare Parts Inventory Analysts
- Warehouse and Stores Managers
- Materials Planning and Replenishment Specialists
- MRO Inventory Management Professionals
- Procurement Specialists responsible for maintenance spare parts
Spare Parts Inventory Fundamentals and Classification Methods
- Understanding spare parts inventory characteristics and costs
- Balancing inventory availability with maintenance requirements
- Applying ABC analysis for inventory value classification
- Using XYZ analysis to evaluate demand variability
- Assessing spare parts criticality and stockout consequences
- Developing inventory policies through combined classification methods
Spare Parts Demand Analysis and Forecasting Methods
- Analysing historical consumption and maintenance demand
- Distinguishing regular, intermittent and unpredictable demand
- Applying moving averages and exponential smoothing methods
- Forecasting intermittent and slow-moving spare parts demand
- Evaluating supplier lead times and demand uncertainty
- Measuring forecast accuracy and selecting appropriate methods
Inventory Optimisation and Replenishment Methods
- Calculating inventory holding, ordering and shortage costs
- Applying Economic Order Quantity (EOQ) methods
- Determining safety stock based on demand and lead-time variability
- Calculating reorder points and minimum stock levels
- Comparing continuous and periodic inventory review systems
- Optimising inventory parameters against service level targets
Critical Spare Parts and Inventory Reduction Methods
- Developing stocking strategies for critical equipment spares
- Evaluating insurance spares and low-demand inventory requirements
- Managing repairable spares and replacement cycles
- Identifying slow-moving, excess and obsolete inventory
- Applying inventory rationalisation and standardisation methods
- Evaluating supplier agreements and alternative replenishment strategies
Inventory Performance Measurement and Continuous Optimisation
- Establishing spare parts inventory KPIs and performance targets
- Measuring inventory turnover, availability and stockout rates
- Assessing inventory accuracy and stock control effectiveness
- Integrating CMMS and ERP information into inventory decisions
- Improving coordination between maintenance and procurement
- Developing a spare parts inventory optimisation action plan
- Upon successful completion of this training course, a GLOMACS Certificate will be awarded to all delegates.
- Guided Learning Hours – In accordance with ISO 9001:2015–certified quality management standards, one Guided Learning Hour is awarded for every 60 minutes of attendance.
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