Material Management

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Material Management

HOT Engineering - A Member of the HOT Energy Group
Logo HOT Engineering - A Member of the HOT Energy Group

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Starting dates and places

computer Online:
4 Jul 2022 until 7 Jul 2022

Description

DESCRIPTION

The simple argument that a rupture of material availability can have a tremendous cost impact compared to the price of the equipment itself justifies the accumulation of stocks which represents a huge money immobilisation. This is particularly true when the Lead Time to supply this equipment is significant in remote areas.
The Mission and Objectives of Stock Management is however to control the level of Stocks in order to increase their efficiency in terms of finance and material availability.

This course is a very detailed study of all tools, methodologies and processes, general and specific, which are necessary to properly control the Stocks at an E&P entity.

Course Structure: 4 …

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Didn't find what you were looking for? See also: Trading, Merchandise, Investment Management, Accounting, and English (FCE / CAE / CPE).

DESCRIPTION

The simple argument that a rupture of material availability can have a tremendous cost impact compared to the price of the equipment itself justifies the accumulation of stocks which represents a huge money immobilisation. This is particularly true when the Lead Time to supply this equipment is significant in remote areas.
The Mission and Objectives of Stock Management is however to control the level of Stocks in order to increase their efficiency in terms of finance and material availability.

This course is a very detailed study of all tools, methodologies and processes, general and specific, which are necessary to properly control the Stocks at an E&P entity.

Course Structure: 4 modules of 4 hours each, delivered over 4 days
Each day will consist of 2 x 2 hour modules including a 30 min. break in between.

Course Level: Skill
Instructor: Paul Adrian or Dominique Deleersnyder

DESIGNED FOR YOU, IF YOU ARE...

An actor in the Supply Chain: stock controller, cost controller, buyer, logistician, but also members of the technical departments, e.g. technical administrators.

HOW WE BUILD YOUR CONFIDENCE

  • Live instructor-led training
  • This course will give you a strong theoretical background through a solid and meticulous documentation you will be able to use in your working position as a reference
  • The course will also make extensive use of case studies and exercises

THE BENEFITS FROM ATTENDING

  • Upon completion of this course you will have a thorough understanding of the Stock Control activities.
  • You will have learnt the mission and objectives of Stock Management and understood how to fill this mission and to reach the objectives

TOPICS

Missions and Objectives of Stock Management

  • Objectives, Procedures and Definitions: The "4 Right" objectives leading to Stock Optimisation - Stock Management Procedures
  • Organisational Structure and Actors: The various interfaces of Stock Control - DUET and TRIPLET - Job Descriptions
  • The Stock Management Digital Tools: The ERP: Supply Chain Management Tool - Review of the main ERPs


Stock Control Activities

  • Stock Control Basics: Definition and Acronyms - Exercise
  • The essential Pre-requisite: The Master Data: The Vendor Master - The Service Master - The Material Master: Organisation, Creation, Guidelines
  • Stock Control Methodology: Stock Material Parameters - Different types of Stock Control - Decision tree - The MRP - The MAP - The Lead Time
  • Stock Control General Processes: Review of main Processes - General Processes: MR, GI, GR
  • Stock Control Specific Processes: GIT - Specific GR - Integration - Sales - Scrap - Loan - Repair
  • Potential Problems in Stock Analysis: Absence of Planning - Wrong MM Data - ERP Control - Materiel not found - Materiel unusable - Quantities discrepancy - Materiel unidentified - Generic Codes - High Shortage ratio - Wrong cost allocations - Excessive Procurement time - Documents missing
  • Stock Analysis and Methods: ABC Analysis and Pareto Principle - ABC + WXY Analysis - ASD Analysis - Key Performance Indicators - Stock report
  • Stock Optimisation: Objectives - Data Cleaning - Corrective Actions after Stock Analysis - Reduction of Stock Value
  • Inventory Management: Objectives - The 3 types of Stock Inventory - General Process - The Quality Check

COURSE FEE:
Please note that participants from Austria incur 20% VAT in addition to the disclosed net course fee.

HOT is an award-winning provider of training solutions for the energy industry. We pride ourselves in delivering excellence with each and every course session: Quality is always at the core of what we do.

Our top-notch courses, developed and taught exclusively by true experts, have been valued by the industry for over 30 years. Our training sessions equip our clients with powerful skills to remain competitive in an increasingly complex petroleum industry. We accelerate careers and empower people, striving to achieve the best possible results.

Our training portfolio covers all stages of the E&P value chain, as well as renewable energy, soft skills, and finance courses.

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    There are no frequently asked questions yet. If you have any more questions or need help, contact our customer service.