Spares Inventory Management Practice Exam

About Spares Inventory Management
Spare Parts Management purpose is to provide “the right parts, in the right quantity, to the right place, at the right time, with the right level of quality, and at the least total cost to the organization”.

Effective management of maintenance spare parts is a critical contributor to equipment operating performance and to the cost of the maintenance investment.

The scope of Spare Parts Management therefore includes all functions from the supplier through to the point of use – identification and coding, criticality classification, procurement, quality inspection, stocking policies, links to work planning (kitting, staging), supplier management and internal performance.

Why is Spares Inventory Management important?
The benefits of spares inventory management for manufacturing maintenance. So by reducing spares, you're reducing space waste and holding costs. A standardised spare parts regime is the best way to ensure downtime is reduced, while also optimising inventory control.

Benefits of a Spares Management Plan
•    Allows you to keep spare inventory levels low, reducing carrying and storage costs but providing access to spare parts when needed.
•    Better service to your customers. ...
•    Enhanced part visibility so your supply chain can show where the need is and where the parts are headed.

Who should take the Spares Inventory Management Exam?
•    Supply Chain Managers.
•    Professionals working in Operations, Manufacturing or Service sectors
•    Logistics, Purchasing, Customer Relationship Managers
•    Financial Controllers, Accountants, Business Analysts & Consultants
•    Business Owners
•    Operations Managers
•    Executives working in Production, Manufacturing, Industrial Operations, Business Operations

Knowledge and Skills required for the Spares Inventory Management

Specific skills are needed to excel in career of spares inventory management which includes analytical bent of mind and quick learning skills.

Spares Inventory Management Practice Exam Objectives

Spares Inventory Management exam focuses on assessing your skills and knowledge in reorder level and inventory optimization.

Spares Inventory Management Practice Exam Pre-requisite

There are no prerequisites for the Spares Inventory Management exam.

Spares Inventory Management Certification Course Outline

1. Understanding Spare Parts Management
2. Metrics and Reporting
3. Parts Identification
4. Spare Parts Standardization
5. Capital Equipment and First Time Buy
6. Managing Critical Spares
7. Re-Order Point and Re-Order Quantity
8. Inventory Optimization
9. Repairable Spares
10. Managing Obsolescence, End of Life, and Last Time Buy


Exam Format and Information
Certification name – Spares Inventory Management Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199