Overview

SC-42: Effective Materials Management

About the Course

 The wide diversity of materials and spare parts required by the oil and gas sector are covered in this three-day course, along with practical considerations that must be made in order to achieve significant improvements in planning, purchasing, storing, and disposing of them. Inventory management, warehousing, and investment recovery are three interconnected sections that study the changing best practices used by significant oil and gas businesses.

Target Audience

 Professional and management staff that are in charge of the materials, spare parts, and supplies required to support any operations at a gas plant, refinery, onshore, or offshore.

Course Objectives

• How to improve customer service for vital or long lead materials and spare parts required for any offshore platform, refinery, gas plant, or chemical processing facility to operate successfully How to choose the most effective inventory analysis techniques and formulate performance criteria for order point and min/max systems
• How to leverage integrated supply agreements, consigned inventory, and supplier stocking plans How forecasting techniques are used by inventory systems and what can be done to enhance them
• How to increase storage architecture, space utilization, and efficiency for improved inventory management How to strengthen physical control of goods and inventory record accuracy to reduce inventory levels and increase space utilization
• Optimal techniques for managing surplus or dormant assets and raising investment recovery dollars

Course Outlines

•  establishing extensive inventory objectives Knowing economic order quantity theory and carrying costs improving material labeling and identification
• inventory segmentation for analysis
•  Using formal processes to choose whether to stock determining order points and safety stock levels enhancing min/max settings and systems
• Utilizing and comprehending material forecasts establishing a scorecard for the warehouse
• Developing best practices for material control physically increasing cycle counting systems and recording accuracy Utilizing warehouse technology more frequently
• enhancing warehouse security and safety preventing and cutting down on excess materials Recognizing investment recovery methods
• Utilizing the disposition value chain to recoup investments