Webinar – Spares Wars: The Poisson Awakens (feat. Monte Carlo)

In this webinar, we will delve into two widely used methods for spares calculations: Poisson Distribution and Monte Carlo Simulation. We’ll examine the underlying assumptions of each approach, compare the results they generate, and discuss which method offers greater statistical robustness and defensibility in real-world applications.

The session will combine theoretical foundations with practical demonstrations using Microsoft Excel, making the concepts accessible and directly applicable to day-to-day engineering tasks. Attendees will also gain insights into the strengths and limitations of each method, helping them make more informed decisions when modelling spares requirements.

This webinar is ideal for Reliability Engineers and Asset Management professionals seeking to deepen their understanding of quantitative spares analysis and improve the credibility of their recommendations.

Click here to register

Brought to you by the Asset Management Council’s Maintenance & Reliability in Asset Management special interest group.

Presenter:
Akshay Athalye, Supportability Engineer, Babcock Australasia

Akshay is a Chartered Professional Engineer and passionate Reliability Engineer with a strong focus on helping organisations unlock maximum value from their assets. He is equally dedicated to supporting the next generation of engineers by demystifying Reliability Engineering and promoting a clear understanding of its principles and practical applications. As the host of the podcast “Reliability – It Matters”, Akshay engages with industry experts to explore key topics, challenge common misconceptions, and share insights that drive better decision-making and outcomes in asset management. Through his work, he strives to build a more informed and capable reliability community, grounded in data, collaboration, and continuous improvement.