Enventure today announced that they had signed a contract with a global mining major, to provide Master Data Management Cataloguing services.
The Client’s objective was to maximize their return on assets and they recognized a need for improved asset performance and accuracy of various spare parts inventory in their SA- ERP system. The biggest problems identified were the high MTTR (Mean Time to Repair) and high inventory costs. Major reasons for such hurdle being: non-availability of right spare parts and holding a high inventory level of parts caused by unorganized data management.
The Client realized that enhancing the data quality is the best way to improve the availability, reliability, and safety of the assets. They reached out to multiple MRO data catalog experts for bids. The unmatched expertise in mining industry-specific UNSPSC based taxonomy development, multilingual delivery, training on cataloging, all of these helped Enventure to be their obvious reasons for the easy choice.
The project starts with an audit of sample data, a unique MRO data catalog covering all parts in the inventory and to implement a data governing system. Alongside, Enventure would also deliver an in-depth training for their internal team on cataloging to maintain the quality of data. Led by Data Management Experts, Enventure’s focus in developing an MRO cataloging system eliminates duplicate data points, scrub out incorrect data, enhance and standardize the description which ensures the accuracy of the spare parts inventory. Accurate spare parts inventory would help effective management of spare parts, which results in lower inventory cost and ensures that the right parts are available during asset breakdown, thus minimize the downtime.
“Our expertise in multilingual UNSPSC based cataloguing clearly edged out other competitors in the bid. Handling large data volume with accuracy and speed helped us to win this large deal. The engagement enables the client to have real-time visibility into their inventory and able to predict the ability to meet maintenance demands through the enhanced inventory accuracy, real-time access into fill rate, stockout rates, and inventory turn” said the Head of Data and Asset Management Solutions at Enventure.
The client is expecting tangible outcomes with this comprehensive solution and is expected to engage Enventure’s MRO data cataloging services for other plants, during the next phase of the project, scheduled to start in a few months.
Enventure (enventure.com) is a privately-held, ISO 9001-2015 & ISO 27001-2013 certified Engineering and Master Data Management Solutions company, with full-fledged delivery centers in India. Enventure has been serving clients in North America and Europe since 1997 and is today a preferred supplier of engineering and master data management services to Fortune 500 companies, across different industry verticals such as Hi-tech Electronics, Oil & Gas, Mining, Water Treatment, and Industrial Manufacturing. Enventure provides a wide variety of services to Clients, in areas such as Plant Design Engineering, Building Engineering, Product Design, Technical Documentation, Component Engineering, Environmental Compliance Support and Master Data Management.