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Data integrity is the heart of an effective MRO program. Controlling the acquisition cost of MRO materials in plants without compromising on stock availability is a major challenge in all industries. Effectively managing MRO content reduces inventory investment levels and improves part availability, which in turn reduces cost.
Bad data is bad business. Good data is a goldmine.
Managing critical parts catalog is excruciatingly time-consuming and difficult. Incomplete, incorrect or outdated information hinders asset utilization, leads to equipment breakdown, prevents efficient use of service resources and causes excessive and inefficient expenses for equipment repair and replacement. So while MRO items are frequently low-cost, they have high procurement costs relative to their value, which makes MRO data vital to a company’s daily operations.
Take control of your indirect materials. Turn it to gold.
MRO materials play a critical role in production, as they consist of non-production parts and supplies that keep operations running. Companies with manufacturing facilities across global locations find it difficult to control their MRO spend while giving priority to reducing downtime and losses in production.
Enventure’s MRO Data Management services enable customers to maintain classified, standardized, and enriched content on indirect materials. A well-configured MRO inventory dramatically improves procurement processes and assists customers in delivering higher value through better commodity management.
Enventure’s MRO Data Management Services include:
Data Services: Data Audit, Data Classification, Data Standardization, Data Enrichment
Analytics: Extraction of transactional data, Spend classification based on UNSPSC or other standards, Spend Analysis and Reporting
Consulting: Data Models/Schema/Taxonomy Development, Strategic Sourcing, Supply Chain Optimization
Technology Services: Selection and implementation of Asset Management and e-Procurement systems
Cleansed MRO data provides accurate visibility on the quantity and location of parts, procurement requirements and order status. With a better understanding of MRO content, companies are able to reduce spot buy purchases, eradicate duplicate parts, eliminate excess stock and remove slow moving or obsolete inventory.