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Inventory Management for Service Operations

Course Description

The Inventory Management for Service Operations course is a two-day course that provides an overview of theories and methods used for managing inventory in the service sector (e.g. utilities, airlines, rail, etc.) Unlike conventional inventory management for manufacturing work-in-process (WIP) and finished goods, inventory management for service operations deals maintenance-related and spare parts and inventories that are critical for ensuring equipment availability and supporting maintenance, repair and operations (MRO). The course focuses on understanding the unique aspects of managing inventory for MRO and Service Operations. This includes understanding various aspects that drive demand in the service-related companies like demand originating from maintenance and repair activities. The course will discuss different types of part classifications, inventory forecasting methods, and a classic inventory control models and theories. Methods and practices that are more suited for managing MRO-related inventory will be emphasized and discussed in greater detail. 

Who Should Attend

This course is designed for inventory managers, supply chain practitioners, procurements officers, and individuals responsible for managing storerooms and part warehouses in service-related industries.

How You Will Benefit

  • Gain a deeper understanding of demand characteristics for service and spare parts inventory.
  • Improve demand predictability by understanding MRO practices.
  • Understand and apply part classification strategies to reduce inventory costs and prevent stockout instances.
  • Understand and apply alternative inventory control policies for different types of parts, slow moving versus fast moving, versus intermittent.
  • Gain the ability to develop a comprehensive step-by-step roadmap for improving spare parts inventory management strategy.

What Is Covered

  • The unique characteristics of MRO inventory management in the service industry, such as utilities, airlines, rail and other non-manufacturing/retail industries
  • The nature and sources of demand for service parts, consumables, and replacement spare parts
  • Common maintenance practices and repair strategies, and their impact on parts demand
  • Qualitative and quantitative part classification, the benefits and limitations of each, and which strategies are best suited for regular versus intermittent demand
  • Basic demand forecasting techniques for fast-moving parts, slow-moving parts, and intermittent demand
  • Underlying theories of classic inventory control models including EOQ, continuous review, periodic review, and base stock policies
  • Comprehensive framework for improving spare parts inventory management

Course Materials

Provided

  • Online access to course material in electronic format

Required

  • Participants must bring a laptop with wireless connectivity

Course Prerequisite and Related Certificate Information

No prerequisites. This course is part of the Supply Chain Management (SCM) Certificate.

Course CEUs

This course provides for 1.40 continuing education units (CEUs).

Course Instructors

Course Fees

Standard: $1,450.00, Alumni/Org Discount: $1,305.00, Certificate: $1,203.50 (cost of each course when signing up for and paying for a multi-course certificate program).

First time attendees pay the listed Course Fee. If you are a returning student of the Supply Chain & Logistics Institute (SCL) courses (or are active/retired military), you will receive a 10% discount when you enter the coupon code SCL-Alum on the "Check Out" page. If you register and pay for all required courses in a Supply Chain & Logistics certificate in one single transaction, you can receive a discount of 17% off each course by entering the coupon code SCL-Cert on the "Check Out" page. There are also discounts available for multiple-team member registrations or to members of certain organizations.

Discounts cannot be combined. For questions, call 404-385-8663 or send us an email prior to registration

The program fee for LIVE courses (non-online) includes continental breakfasts, lunches, breaks, parking, internet access, and all classroom materials.

If the Supply Chain & Logistics Institute must cancel a program, registrants will receive a full refund. Georgia Tech, however, cannot assume the responsibility for other costs incurred. Due to program enrollment limits, early registration is encouraged. Registrations will be acknowledged by a letter of confirmation from Professional Education.

Course Times

On the first day, please check in at least 30 minutes before the class start time.

  • First Day - 8:00am to 5:00pm
  • ​Second Day - 8:00am to 5:00pm

UPCOMING OFFERINGS*

March 22, 2021 to March 23, 2021
Georgia Tech Global Learning Center
 
 
 
ISyE location map

Georgia Tech Supply Chain and
Logistics Institute
H. Milton Stewart School of
Industrial & Systems Engineering
765 Ferst Drive, NW, Suite 228
Atlanta, GA 30332
Phone: 404.894.2343