Using Advanced Analytics to Optimise Your MRO Inventory
Market research shows that up to 50% of unscheduled manufacturing downtime is due to lack of spare parts, yet sometimes as little as 10% of MRO (Maintenance, Repair and Operations) stock may move in any 1 year.
Building Advanced Analytics intelligence into your systems has the potential to deliver:
- Significant reduction in unplanned downtime related to parts
- Measurable reduction in inventory costs and stock levels
- Eradication of stock-outs and obsolescence
- A data-driven inventory system where the competing views from Finance, Operations and Maintenance can agree on evidence-based reorder points.
Any way you look at it, the potential savings are significant.
This webinar was aimed at senior decision makers involved in inventory optimisation. It provided information and guidance on how Advanced Analytics and BI can be used in asset-intensive industries to achieve significant business value through MRO inventory optimisation.
In our experience, organisations with maintenance inventory of any size, from small to large, can get usable insights to understand the optimum inventory levels and avoid the risk of downtime caused by stockouts of critical spare parts.
This insightful session was presented by Rob McCullagh, Strategic Account Director at Version 1, and covered:
- The challenge of trying to optimise MRO inventory levels and reduce costs while maintaining maintenance SLAs and downtime KPIs.
- How organisations can take some light touch, manageable steps, to reduce MRO inventory levels and optimise reorder points.
- Smart Inventory Management – What is it, how does it deliver value and what does good look like?