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 and Best practices used to manage surplus or inactive assets and increase investment recovery dollars.