Oracle has 2 scripts for it. "Utlprp.sql" and "Utlrp.sql" which are found under $ORACLE_HOME/rdbms/admin.
It asks for just one input value. Its answer must be given accordingly.
0 - The level of parallelism is derived based on the CPU_COUNT parameter.
1 - The recompilation is run serially, one object at a time.
N - The recompilation is run in parallel with "N" number of threads.
Both scripts must be run as the SYS user, or another user with SYSDBA, to work correctly.
However sometimes we need to some manuel compilation.
For example the following states a compilation of package.
 BEGIN  
  FOR cur_rec IN (SELECT owner,  
              object_name,  
              object_type,  
              DECODE(object_type, 'PACKAGE', 1,  
                        'PACKAGE BODY', 2, 2) AS recompile_order  
          FROM  dba_objects  
          WHERE object_type IN ('PACKAGE', 'PACKAGE BODY')  
          AND  status != 'VALID'  
          ORDER BY 4)  
  LOOP  
   BEGIN  
    IF cur_rec.object_type = 'PACKAGE' THEN  
     EXECUTE IMMEDIATE 'ALTER ' || cur_rec.object_type ||   
       ' "' || cur_rec.owner || '"."' || cur_rec.object_name || '" COMPILE';  
    ElSE  
     EXECUTE IMMEDIATE 'ALTER PACKAGE "' || cur_rec.owner ||   
       '"."' || cur_rec.object_name || '" COMPILE BODY';  
    END IF;  
   EXCEPTION  
    WHEN OTHERS THEN  
     DBMS_OUTPUT.put_line(cur_rec.object_type || ' : ' || cur_rec.owner ||   
                ' : ' || cur_rec.object_name);  
   END;  
  END LOOP;  
 END;  
 / 
References:
1- Compile Invalid Objects
http://oracle-base.com/articles/misc/recompiling-invalid-schema-objects.php
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