25 Nov MRO Inventory Management
MRO is a 3-day course which goes in full detail of Maintenance, Repair, and Operating inventory management.
Day 1 consists of: types of inventory, storerooms, inventory management, parts criticality, VED (Vital, Essential, Desirable) approach, examining alternative stocking, storeroom activities, storeroom layouts, stocking basics, enforcing security, storeroom procedures, examples of World Class storerooms, parts numbering, intelligent numbers, storeroom accuracy, carrying cost case study, repetitive items, critical spare types, maintaining an accurate inventory, best practices, and storeroom challenges.
Day 2 includes: Stockroom basics exercise, effective inventory management, relevant inventory costs, carrying costs, reorder points, safety stock, service level, ABC analysis, an ABC analysis exercise, how to cycle count, EOQ (Economic Order Quantity), stock control, return for credit control, visual controls, inventory turnover, and inventory accuracy.
Day 3 concludes with: the supply chain, role of purchasing, supply chain management, cost of a PO (Purchase Order), the four standards of buyers, unethical behavior, Kraljic supply Matrix, purchasing cycle, purchasing inputs/outputs, supplier/vendor management, RFP (Request for Proposal), vendor review exercise, policies and procedures, RACI charts, steps for procedures, and deployment model. Numerous videos and exercises are used to further engage the trainee.
