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Live Webinar

90-minute live streaming program
  • July 22
  • 1:00 - 2:30 pm EST

Best Practices for MRO Purchasing

July 22

Understand the factors that will enable you to successfully deploy MRO leading practices.

MRO is essential to maintaining effective operations and can represent a sizeable portion of the annual budget but is often considered less important and relies on local facility leadership for support. Many organizations also do not understand why MRO management includes upstream activities such as strategy development because focus is mainly on cost; as a result, while many MRO initiatives deliver short-term results, benefits are often not sustained. This topic helps people participating in MRO decisions to first understand the end-to-end MRO inventory value stream. For many companies, MRO decisions are made in a silo, so it is also important to know who else potentially may need to be involved. The material then conducts a deep dive on each part of the value stream so stakeholders can decide what could/should be implemented. As can be expected with any business transformation requiring change management, some of the leading practices will take longer to implement; a common error is companies do not place the proper expectations on the timing and complexity involved, so we will also talk about key success factors to implementing leading practices.

Learning Objectives

  • You will be able to describe the MRO inventory value chain.
  • You will be able to identify leading practices across the MRO inventory value chain.
  • You will be able to discuss the key stakeholders responsible for effective MRO management.
  • You will be able to define the factors that will enable companies to successfully deploy MRO leading practices.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Course Overview
  • MRO Inventory Value Chain
  • MRO Terminology
MRO Inventory Value Chain – Scope, Impact and Leading Practices
  • Asset and Maintenance Strategy
  • Reliability/Maintenance Engineering
  • Procurement
  • Maintenance Planning
  • Inventory Management
  • Logistics Execution
  • Maintenance Execution
Case Studies
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     
  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, LLC. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Who should attend?

This live webinar is designed for purchasing managers, material managers, presidents, vice presidents, business owners and managers, CFOs, controllers, accountants, contract administrators, senior buyers, supply chain and operations managers, and attorneys.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Patrick Lee

Patrick Lee

Ernst & Young LLP

  • Managing director in Ernst & Young LLP’s Working Capital Advisory Services based in the Atlanta, GA office
  • EY’s Working Capital Advisory Services helps companies unlock cash from operations across order to cash (accounts receivable), forecast to fulfill (inventory), procure to pay (accounts payable) and non-trade working capital by identifying root causes (strategy, people, process, technology) and implementing solutions
  • 20+ years of supply chain and operations experience across industry and consulting with deep expertise in business transformation, analytics, process improvement and working capital
  • Professional experience covers a diverse set of industries, including aerospace and defense, automotive, chemical, consumer products, food processing, industrial manufacturing, life sciences, metals and mining, and retail
  • Began professional career with Michelin Tire Corporation in manufacturing with roles in machine design, process engineering, quality control and project management
  • MRO specific experience include new capital equipment installations, manufacturing equipment modifications, production operations, maintenance planning, strategic sourcing and inventory modeling
  • Regularly conduct trainings and speak at seminars on working capital topics
  • M.B.A. degree, Goizueta Business School, Emory University; B.S. degree in mechanical engineering, North Carolina State University
  • Can be contacted at 404-641-7428 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 407481
Published 2020
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