Effective Materials Management - SC-42
DURATION
3 Days
DESIGNED FOR
Professional and management personnel who have responsibility for, materials, spare parts and supplies needed to support any refinery, gas plant, onshore/offshore production or other industry operations. Buyers, procurement specialists, stock analysts, and logistics, warehouse, distribution or operations supervisors will benefit from this course by learning the techniques and principles for providing better service to their operations, reducing stock outs and surplus materials and maximizing the return on investment for inventory.
YOU WILL LEARN
How to provide better customer service for long lead or critical materials and spare parts essential to the success of any well field operation, offshore platform, refinery, gas plant or chemical processing facility
How to establish the best methods of inventory analysis and create performance measures for min/max and order point systems
The most useful inventory classifications, stocking levels and safety stock calculations
How the decision to stock can be made more effectively to avoid surplus materials
How to use supplier stocking programs, consigned inventory and integrated supply agreements.
How inventory systems use forecasting techniques and what can be done to improve them
How to improve warehousing efficiency, layout and space utilization for better inventory management
How to establish improvement goals for fewer stock outs, higher inventory turnover and reduced obsolescence
How to improve inventory record accuracy and physical control of materials to lower inventory levels and increase space utilization
Best practices used to manage surplus or inactive assets and increase investment recovery dollars.
ABOUT THE COURSE
This 3-day course covers practical considerations essential to achieve major improvements in planning, buying, storing and disposing of the vast array of materials and spare parts needed in the oil and gas industry. Evolving best practices by major oil and gas companies are explored as three inter-related modules for inventory management, warehousing and investment recovery.
COURSE CONTENT
Setting comprehensive inventory goals & objectives
Understanding carrying costs and economic order quantity theory
Improving Material identification and coding
Segmenting inventory for analysis
Using formal procedures for making the decision to stock
Determining safety stock levels and order points
Improving Min/max systems and settings
Understanding and using material forecasts
Establishing a warehouse scorecard
Creating best practices in the physical control of materials
Measuring record accuracy and improving cycle counting systems
Increasing the use of warehouse technologies
Improving warehouse safety and security
Setting up an investment recovery program
Preventing and reducing surplus materials
Understanding Investment recovery techniques
Using the disposition value chain for investment recovery