With an accurate Data Classification system, potential savings of organizations increases by multi-fold in different areas such inventory, supply chain and plant operations. A well-classified MRO materials database dramatically improves the spend analysis, which then enables the asset-intensive organizations to:
Identify focus areas to optimize costs and improve return on investment,
Gain insights into inventory movements and boost supply chain optimization
Adopt an inventory data standard across the organization
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MRO Data classification is important and benefits organizations in the following functional areas:
Sourcing: MRO Data classification helps drive clarity, guarantee compliance and increases cost savings with accurate data revealing hidden opportunities. It creates a reduction in inventory and parts price from and re-engineering opportunities. Other than MRO savings, MRO data management helps in sourcing by:
Improving response times,
Creating better leverage in the market,
Enabling secondary market sourcing,
Increasing RFQ effectiveness.
Purchasing: Clean, dependable MRO Data ensures company to negotiate contract pricing and exploit negotiating opportunities. This helps to automate stock purchasing, enable larger enterprise purchases, and ensures invoice accuracy.
Maintenance: Standardized and enriched MRO Data ensures visibility of current availability of all spare parts across various plant locations and regions, thus reducing amount of time spent searching for parts to procure and delaying the much-needed maintenance activity.
Inventory: The quality of MRO Data and its inventory creates an impact on optimization, sharing inventory across plants, kitting, planning, and vending and storeroom effectiveness.
MRO Analytics: Efficient MRO analytics allows to make quick and informed decisions, spot new trends, and evaluate the production for more effective planning, and better efficiency.
Quality & Asset Management: TQM (Total Quality Management) and lean manufacturing processes are enabled due to clear and accurate MRO data to reduce defects, reduce unplanned shutdowns, reduce down-time during overhauls and other unplanned maintenance.
BOM Development: Maintaining accurate MRO data of all the equipment and their parts and linking the parts to the correct equipment is a base for any Reliability Program. Previous data can be lost during software upgrades, and parts often lay unnoticed in the storehouses eventually risking to damage, corrosion, and loss. MRO data management allows for material-to-asset tie-in to ensure production line reliability.
Talk to one of our MRO data excellence specialists today and understand how Data Classification can save millions for your organization.
