Course Description

The course presents a systematic approach to periodic inventory system of electrical and mechanical equipment. The matching principles as applied to inventories. Inventory valuation and importance of an accurate valuation of inventory are presented. The course presents also pricing the inventory, Cost basis of inventory valuation, and the environment of equipment.

Concepts introduced and demonstration problem for review and solution to demonstration problem are presented in the course. In this course we consider replacement of electrical equipment which gradually wears out or subject to sudden failure.

Stock — control systems, applied to the different types of stock are important to ensuring that material is available for operation and enabling work to be valued.

Course Goal:

To enhance the participant’s knowledge, skills, and abilities necessary to ensure that material is available for operation and enabling work to be valued

Course Objectives:

By the end of the course, participant will be able to:

1. Understand inventory analysis methods for all electrical and mechanical equipment.
2. Learn how electro mechanical equipment can be stocked optimally.
3. Understand condition monitoring methods
4. Learn how to stock when demand rate is variable

Course Outline

• Introduction

• 1.  Meaning of inventory.
  2. Periodic inventory system.
  3. Inventory Evaluation Methods.
  4. Inventory of Electric equipment.

• Examples on Inventory and Exercise

• 1. Estimating ending inventory.
  2. Control of inventories.
  3. Inventory of an annual physical inventory.
  4. Need of an annual physical inventory.
  5. Computer Application on Electro mechanical equipment.
• Stock Control with backlogging

• 1.  Graphical representation.
  2. Minimizing of sum of delivery, stock holing, and deficiency casts.
  3. Derivation of formulae for batch size and maximum deficiency level.
  4. Numerical example and exercise.
  5. Derivation of the economic batch quantity (EBQ) or economic order quantity.
• Electro mechanical Equipment Inventory

• 1. Replacement with capital reduction and Maintenance.
  2. Input – Output Analysis.
  3. Estimating ending inventory.
  4. Coding and decoding system.
  5. Maximum and minimum stock.
  6. JIT Philosophy of inventory.
• Assignment Material

• 1. Review Questions.
  2. Exercises and problems.
  3. Business decision case.
  4. Beginning inventory and ending inventory

Who Can Benefit?

Electrical, and Mechanical Operation, Production, and maintenance Engineers, senior technicians, who work in power utilities and industries should benefit from this course. Also, senior engineers should update and refresh their knowledge by attending this course