Strategy for MRO Optimization
Organizations strive to have an efficient MRO strategy, that can avoid ‘large revenue leakages’ while maximizing plant reliability and uptime. All key stakeholders understand that a weak MRO strategy puts a significant strain on procurement, reliability, inventory, warehousing, logistics and labor, all of it leading to higher costs across the organization.
Enventure excels at creating robust, cost-effective, and accurate MRO optimization strategies for clients, as our process rigor covers every single stakeholder group impacted i.e. procurement, supply chain, maintenance, stores, cataloging, and IT (including all ERP, CMMS systems, and allied software for spend analytics, procurement analytics).
Our approach for MRO optimization is multipronged covering key elements like:
- CONSULTING: Short and long-term goals: Casting a customized approach to achieve predefined short and long term goals, by doing a gap analysis to discover issues, identify the root cause and arrive on recommendations for solving the problems.
- DATA AUDIT: Breaking down the problems: Step 1 above reveals the top level picture, the devil is in the detail. The data audit is a systematic statistical analysis of key data points that can verify the findings from the gap assessment, and provide clear direction on the action plan for resolution.
- PROCESS IMPROVEMENTS: Over two decades MRO expertise: Applying customized yet industry-specific practices, combined with a clear understanding of client operations through process studies, analytics, interviews, and workshops, we identify leading and lagging indicators, to accurately measure program effectiveness, and ensure that key parameters trend in a positive direction.
- MASTER DATA EXCELLENCE: Covering – data, systems, and process. Create a blueprint of how master data should be, specifically in the context of the MRO material master, Asset Register, and Vendor Master. Implement enhancements to the master data quality, leveraging findings from the Data Audit, leading the organization to a higher level of performance. Very importantly, also implement a Master Data Governance program, via our Partlinq MDG™ platform to maintain data hygiene.
- STRATEGIC SOURCING & PROCUREMENT: Not just cost savings, but reliable suppliers: Cover every aspect of global sourcing – identify reliable suppliers, low-cost country sourcing, alternate regional suppliers, alternate materials, cross-referenced materials, increased pricing options and better lead times. Improve procurement efficiencies, around the RFP process, Purchase Order processing, Order expediting, Confirmations, Proof of Deliveries and Vendor Payments.
- RELIABILITY ENGINEERING: Leveraging years of on-field experience: Employ both onsite and offsite operating models to – identify asset reliability, failure rate, mean time to failure (MTTF), non-Repairable Systems, and mean time between failures (MTBF), failure rate and repair rate, and mean residual life (MRL) for repairable systems. Enhance the quality and depth of underlying data (such as Asset BOMs, spares criticality ratings), to ensure maintenance programs have high levels of reliability.